EC decides Third Country Equivalence for the Capital Requirements Regulation

The European Commission (EC) has decided that various non-EU countries have equivalent arrangements for the purposes of treatment of exposures in relation to the Capital Requirements Regulation (Regulation 575/2013) (CRR).  The EC’s Implementing Decision (link here) will enter into force on 1 January 2015.  Countries that have been found equivalent for all three types of exposure under CRR include Brazil, Canada, China, Saudi Arabia, Singapore, South Africa and the USA.  Types of exposure and equivalent countries are listed below.

(1) Supervisory and regulatory arrangements for exposures to credit institutions:

Australia, Brazil, Canada, China, Guernsey, Hong Kong, India, Isle of Man, Japan, Jersey, Mexico, Monaco, Saudi Arabia, Singapore, South Africa, Switzerland and the USA.

(2) Exposures to investment firms:

Australia, Brazil, Canada, China, Mexico, Saudi Arabia, Singapore, South Africa and the USA.

(3) Exposures to exchanges:

Brazil, Canada, China, India, Japan, Mexico, Saudi Arabia, Singapore, South Africa and the USA

Bank of England Note on CRR & CRD IV

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