CSSF Regulation No 22-07 of 1 January 2024 is a CSSF regulation concerning systemically important institutions authorised in Luxembourg, published 1 January 2024. The CSSF marks it as outdated.
\nLegal basis: Law of 23 December 1998 creating the CSSF, Law of 5 April 1993 on the financial sector, Loi du 1er avril 2015 relative à la cession d'un terrain domanial au Fonds de compensation commun au régime général de pension.
\nRelevant for: Credit institutions, Investment firms.
\nIn case of discrepancies between the French and the English texts, the French text shall prevail.
\nCSSF Regulation No 22-07
\nIn case of discrepancies between the French and the English texts, the French text shall prevail.
\nCSSF Regulation No 22-07 of 30 November 2022 concerning systemically important institutions authorised in Luxembourg (Mém. A 2022, No 647)
\nHaving regard to Article 108a of the Constitution; Having regard to the Law of 23 December 1998 establishing a financial sector supervisory commission (“Commission de surveillance du secteur financier”), and in particular Article 9(2) thereof; Having regard to the Law of 5 April 1993 on the financial sector (“LFS”) and in particular Article 59-2 and Article 59-3 thereof, pursuant to which the CSSF, as designated authority and after consultation with the Banque centrale du Luxembourg (“BCL”), is in charge of identifying the systemically important institutions which have been authorised in Luxembourg and the yearly review thereof, and its Article 59-9 pursuant to which the CSSF, after consultation with the BCL, may require systemically important institutions, other than global, to maintain an additional capital buffer; Having regard to Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, as amended by Directive 2019/878 of the European Parliament and of the Council of 20 May 2019, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC, and in particular Article 131 thereof; Having regard to Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (“SSM Regulation”), and in particular Article 5 thereof; Having regard to Commission Delegated Regulation (EU) No 1222/2014 of 8 October 2014 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards for the specification of the methodology for the identification of global systemically important institutions and for the definition of subcategories of global systemically important institutions; Having regard to the Guidelines of the European Banking Authority (EBA/GL/2014/10) of 16 December 2014 on the criteria to determine the conditions of application of Article 131(3) of Directive 2013/36/EU (CRD) in relation to the assessment of other systemically important institutions (O-SIIs) (“EBA Guidelines”); Having regard to the opinion of the Comité du risque systémique (Systemic Risk Committee) of 17 October 2022 on the annual identification and the review of the calibration of the buffer for the other systemically important institutions (CRS/2022/009) (“CRS Opinion”); Having regard to the decision of the ECB, adopted pursuant to Article 5 of the SSM Regulation, not to object to the CSSF's intention to take the macro-prudential measures set out in this regulation; Having regard to the opinion of the Consultative Committee for Prudential Regulation; The Executive Board of the Commission de Surveillance du Secteur Financier, Decides:
\nArticle 1 Identification of global systemically important institutions None of the institutions authorised in Luxembourg referred to in Article 1(11a) of the LFS, hereinafter “CRR institutions”, has been identified as a global systemically important institution (G-SII) within the meaning of Article 59-3 of the LFS.
\nThe text above is the opening of the document; the PDF carries the whole.
\nDocument page, PDF. Source: Commission de Surveillance du Secteur Financier (CSSF), reproduced with the CSSF's consent. The French text prevails.
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