The Financial Regulator has published its requirements and guidelines for credit institutions and investment firms relating to the implementation of the Capital Requirements Directive (CRD). The document details the exercise of discretions available to the Financial Regulator pursuant to SI 660 of 2006 and SI 661 of 2006 and requirements and guidelines for institutions wishing to apply for the use of internal models for the calculation of regulatory capital. In addition, there are sections on operational risk, specialised lending and institutions' Internal Capital Adequacy Assessment Process (ICAAP) and disclosure obligations.
The notice applies to credit institutions licensed under the Central Bank Act 1971, investment funds authorised under the Investment Intermediaries Act, 1995, and to stockbrokers authorised under the Stock Exchange Act, 1995.
In addition to meeting the requirements set out in the notice, institutions must also ensure that their operations are consistent with the guidelines of the Committee of European Banking Supervisors (CEBS) unless otherwise instructed by the Financial Regulator.
To view a copy of the notice please click on following link: www.financialregulator.ie/ |
