Own Funds based on Fixed Overheads
EBA in consultation with ESMA shall develop draft regulatory technical standards to specify in greater detail the following:
the calculation of the requirement to hold eligible capital of at least one quarter of the fixed overheads of the previous year;
the calculation of projected fixed overheads in the case of an investment firm that has not completed business for one year.
EBA shall submit those draft regulatory technical standards to the Commission by 1 March 2014.
Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.