Article 45 | CRR | Regulation 575/2013

Article 45 - Regulation 575/2013 (CRR)

Article 45

Deduction of holdings of Common Equity Tier 1 instruments of financial sector entities

Institutions shall make the deductions required by points (h) and (i) of Article 36(1) in accordance with the following provisions:

(a)

they may calculate direct, indirect and synthetic holdings of Common Equity Tier 1 instruments of the financial sector entities on the basis of the net long position in the same underlying exposure provided that both the following conditions are met:

(i)	the maturity of the short position matches the maturity of the long position or has a residual maturity of at least one year;

(ii)	either both the long position and the short position are held in the trading book or both are held in the non-trading book;

(b)	they shall determine the amount to be deducted for direct, indirect and synthetic holdings of index securities by calculating the underlying exposure to the capital instruments of the financial sector entities in those indices.

PART ONE - GENERAL PROVISIONS (Article 1-24)

PART TWO - OWN FUNDS (Article 25-91)

TITLE I - ELEMENTS OF OWN FUNDS (Article 25-80)

CHAPTER 1 - Tier 1 capital (Article 25)

CHAPTER 2 - Common Equity Tier 1 capital (Article 26-50)

Section 1 - Common equity tier 1 items and instruments (Article 26-31)

Section 2 - Prudential filters (Article 32-35)

Section 3 - Deductions from common equity tier 1 items, exemptions and alternatives (Article 36-49)

Sub-Section 2 - Exemptions from and alternatives to deduction from Common Equity Tier 1 items (Article 48-49)

Section 4 - Common equity tier 1 capital (Article 50)

CHAPTER 3 - Additional Tier 1 capital (Article 51-61)

CHAPTER 4 - Tier 2 capital (Article 62-71)

CHAPTER 5 - Own funds (Article 72)

CHAPTER 6 - General requirements (Article 73-80)

TITLE II - MINORITY INTEREST AND ADDITIONAL TIER 1 AND TIER 2 INSTRUMENTS ISSUED BY SUBSIDIARIES (Article 81-88)

TITLE III - QUALIFYING HOLDINGS OUTSIDE THE FINANCIAL SECTOR (Article 89-91)

PART THREE - CAPITAL REQUIREMENTS (Article 92-386)

PART FOUR - LARGE EXPOSURES (Article 387-403)

PART FIVE - EXPOSURES TO TRANSFERRED CREDIT RISK (Article 404-410)

PART SIX - LIQUIDITY (Article 411-428)

PART SEVEN - LEVERAGE (Article 429-430)

PART EIGHT - DISCLOSURE BY INSTITUTIONS (Article 431-455)

PART NINE - DELEGATED AND IMPLEMENTING ACTS (Article 456-464)

PART TEN - TRANSITIONAL PROVISIONS, REPORTS, REVIEWS AND AMENDMENTS (Article 465-520)

PART ELEVEN - FINAL PROVISIONS (Article 521)

Article 45 - Regulation 575/2013 (CRR)