Prudential Regulation Authority Rulebook

11.1

The Common Equity Tier 1 capital ratio which firms must under Article 465(1)(a) of the CRR meet or exceed for the period from 1 January 2014 until 31 December 2014 shall be 4.0%.

[Note: Art 465(1)(a) of the CRR]

11.2

The Tier 1 capital ratio which firms must under Article 465(1)(b) of the CRR meet or exceed for the period from 1 January 2014 until 31 December 2014 shall be 5.5%.

[Note: Art 465(1)(b) of the CRR]

11.3

The applicable percentage for the purposes of Article 467(1) of the CRR shall be:

1. (1) 100% during the period from 1 January 2014 to 31 December 2014;
2. (2) 100% during the period from 1 January 2015 to 31 December 2015;
3. (3) 100% during the period from 1 January 2016 to 31 December 2016; and
4. (4) 100% for the period from 1 January 2017 to 31 December 2017.

[Note: Art 467 of the CRR]

11.4

The applicable percentage for the purposes of Article 468(1) of the CRR shall be:

1. (1) 0% during the period from 1 January 2015 to 31 December 2015;
2. (2) 0% during the period from 1 January 2016 to 31 December 2016; and
3. (3) 0% for the period from 1 January 2017 to 31 December 2017.

[Note: Art 468(1)-(3) of the CRR]

11.5

The applicable percentage for the purposes of Article 468(4) of the CRR shall be:

1. (1) 100% for the period from 1 January 2014 to 31 December 2014;
2. (2) 100% for the period from 1 January 2015 to 31 December 2015;
3. (3) 100% for the period from 1 January 2016 to 31 December 2016; and
4. (4) 100% for the period from 1 January 2017 to 31 December 2017.

[Note: Art 468(4), 478(1) of the CRR]

11.6

The applicable percentage for the purposes of Article 469(1)(a) of the CRR as it applies to the items referred to in points (a)-(b) and (d)-(h) of Article 36(1) shall be:

1. (1) 100% during the period from 1 January 2014 to 31 December 2014;
2. (2) 100% during the period from 1 January 2015 to 31 December 2015;
3. (3) 100% during the period from 1 January 2016 to 31 December 2016; and
4. (4) 100% for the period from 1 January 2017 to 31 December 2017.

[Note: Art 469(1)(a), 478(1) of the CRR]

11.7

The applicable percentage for the purposes of Article 469(1)(c) of the CRR as it applies to the items referred to in point (c) of Article 36(1) that existed prior to 1 January 2014 shall be:

1. (1) 100% for the period from 1 January 2014 to 31 December 2014;
2. (2) 100% for the period from 1 January 2015 to 31 December 2015;
3. (3) 100% for the period from 1 January 2016 to 31 December 2016;
4. (4) 100% for the period from 1 January 2017 to 31 December 2017;
5. (5) 100% for the period from 1 January 2018 to 31 December 2018;
6. (6) 100% for the period from 1 January 2019 to 31 December 2019;
7. (7) 100% for the period from 1 January 2020 to 31 December 2020;
8. (8) 100% for the period from 1 January 2021 to 31 December 2021;
9. (9) 100% for the period from 1 January 2022 to 31 December 2022; and
10. (10) 100% for the period from 1 January 2023 to 31 December 2023.

[Note: Art 469(1)(c), 478(2) of the CRR]

11.8

The applicable percentage for the purposes of Article 469(1)(c) of the CRR as it applies to the items referred to in point (c) of Article 36(1) that did not exist prior to 1 January 2014 and the items referred to in point (i) of Article 36(1) shall be:

1. (1) 100% during the period from 1 January 2014 to 31 December 2014;
2. (2) 100% during the period from 1 January 2015 to 31 December 2015;
3. (3) 100% during the period from 1 January 2016 to 31 December 2016; and
4. (4) 100% for the period from 1 January 2017 to 31 December 2017.

[Note: Art 469(1)(c), 478(1) of the CRR]

11.9

The applicable percentage for the purposes of Article 474(a) of the CRR shall be:

1. (1) 20% during the period from 1 January 2014 to 31 December 2014;
2. (2) 40% during the period from 1 January 2015 to 31 December 2015;
3. (3) 60% during the period from 1 January 2016 to 31 December 2016; and
4. (4) 80% for the period from 1 January 2017 to 31 December 2017.

[Note: Art 474(a), 478(1) of the CRR]

11.10

The applicable percentage for the purposes of Article 476(a) of the CRR shall be:

1. (1) 20% during the period from 1 January 2014 to 31 December 2014;
2. (2) 40% during the period from 1 January 2015 to 31 December 2015;
3. (3) 60% during the period from 1 January 2016 to 31 December 2016; and
4. (4) 80% for the period from 1 January 2017 to 31 December 2017.

[Note: Art 476(a), 478(1) of the CRR]

11.11

The applicable percentage for the purposes of Article 479(2) of the CRR shall be:

1. (1) 0% for the period from 1 January 2014 to 31 December 2014;
2. (2) 0% for the period from 1 January 2015 to 31 December 2015;
3. (3) 0% for the period from 1 January 2016 to 31 December 2016; and
4. (4) 0% for the period from 1 January 2017 to 31 December 2017.

[Note: Art 479 of the CRR]

11.12

The applicable factor for the purposes of Article 480(1) of the CRR as it applies to point (b) of Article 84(1) shall be:

1. (1) 1 in the period from 1 January 2014 to 31 December 2014;
2. (2) 1 in the period from 1 January 2015 to 31 December 2015;
3. (3) 1 in the period from 1 January 2016 to 31 December 2016; and
4. (4) 1 in the period from 1 January 2017 to 31 December 2017.

[Note: Art 480 of the CRR]

11.13

The applicable factor for the purposes of Article 480(1) of the CRR as it applies to point (b) of Article 85(1) and point (b) of Article 87(1) shall be:

1. (1) 0.2 in the period from 1 January 2014 to 31 December 2014;
2. (2) 0.4 in the period from 1 January 2015 to 31 December 2015;
3. (3) 0.6 in the period from 1 January 2016 to 31 December 2016; and
4. (4) 0.8 in the period from 1 January 2017 to 31 December 2017.

[Note: Art 480 of the CRR]

11.14

The applicable percentage for the purposes of Article 481(1) of the CRR shall be:

1. (1) 0% for the period from 1 January 2014 to 31 December 2014;
2. (2) 0% for the period from 1 January 2015 to 31 December 2015;
3. (3) 0% for the period from 1 January 2016 to 31 December 2016; and
4. (4) 0% for the period from 1 January 2017 to 31 December 2017.

[Note: Art 481 of the CRR]

11.15

The applicable percentage for the purposes of Article 486(2), (3) and (4) of the CRR shall be:

1. (1) 80% for the period from 1 January 2014 to 31 December 2014;
2. (2) 70% for the period from 1 January 2015 to 31 December 2015;
3. (3) 60% for the period from 1 January 2016 to 31 December 2016;
4. (4) 50% for the period from 1 January 2017 to 31 December 2017;
5. (5) 40% for the period from 1 January 2018 to 31 December 2018;
6. (6) 30% for the period from 1 January 2019 to 31 December 2019;
7. (7) 20% for the period from 1 January 2020 to 31 December 2020; and
8. (8) 10% for the period from 1 January 2021 to 31 December 2021.

[Note: Art 486 of the CRR]