BANK 3.3.4 Powers of Regulatory Authority
(1) The Regulatory Authority may impose a restriction on capital distributions by a firm even if the amount of the firm’s CET 1 capital is greater than its CET 1 capital ratio and required capital conservation buffer.
(2) The Regulatory Authority may, by written notice, impose a limit on the period during which a banking business firm may operate within a specified capital conservation ratio.
(3) A banking business firm may apply to the Regulatory Authority to make a distribution in excess of a limit imposed by this Part. The authority will grant approval only if it is satisfied that the firm has appropriate measures to raise capital equal to, or greater than, the amount the firm wishes to distribute above the limit.
|Derived from QFCRA RM/2014-2 (as from 1st January 2015).|