Recital 3

(3) In accordance with Article 45h(2), third subparagraph, of Directive 2014/59/EU, and in line with the TLAC standard, the sum of the actual requirements for own funds and eligible liabilities of a G-SII with an MPE resolution strategy is not to be lower than that group’s theoretical requirement under an SPE resolution strategy. In order to align the provisions of Regulation (EU) No 575/2013 with those of Directive 2014/59/EU and to ensure that resolution authorities always act in accordance with that Directive and consider both the requirements for own funds and eligible liabilities laid down in Regulation (EU) No 575/2013 and any additional requirement for own funds and eligible liabilities determined in accordance with Article 45d of Directive 2014/59/EU, Article 12a of Regulation (EU) No 575/2013 should be amended and Article 92a(3) of that Regulation should be deleted. This should not prevent resolution authorities from concluding that any adjustment to minimise or eliminate the difference between the sum of the actual requirements for own funds and eligible liabilities of a G-SII with an MPE resolution strategy and that group’s theoretical requirement under an SPE resolution strategy, when the former is higher than the latter, would be inappropriate or inconsistent with the G-SII’s resolution strategy. To ensure consistency between Article 12a of Regulation (EU) No 575/2013 and Article 45h(2) of Directive 2014/59/EU, the calculation referred to in Article 45h(2) of that Directive should also take into account all third-country entities that are part of a G-SII that would be resolution entities if they were established in the Union.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-16 · Text as adopted (Official Journal); later amendments are not incorporated in this text.