BIPRU 8 Annex 6 Non–EEA regulators' requirements deemed CRD-equivalent for individual risks

Part 1 (Non–EEA banking regulators' requirements deemed CRD-equivalent for individual risks)

Regime regulators

Market risk

Credit

risk

Operational Risk

USA

Office of the Comptroller of the Currency

Board of Governors of the Federal Reserve System

* a US banking subsidiary will be deemed equivalent for credit risk if:

  • it is categorised as well capitalised: and
  • it scales up its US Basel 1 credit risk requirement by 25%

X*

X*

X

X

Australia

Australian Prudential Regulation Authority [APRA]

X

Canada

Office of the Superintendent of Financial Institutions [OSFI]

Switzerland Swiss Financial Market Supervisory Authority [FINMA]2

2

√ See note 2

Japan

Financial Services Agency, Japan [JFSA]

X

X

South Africa

South African Reserve Bank [SARB]

Hong Kong

Hong Kong Monetary Authority [HKMA]

Singapore

Monetary Authority of Singapore [MAS]

India

Reserve Bank of India [RBI]

Korea

Financial Supervisory Service [FSS]

X

X

1Jersey

1Guernsey

X

1Isle of Man

X

Note 1: A √ denotes that the requirements have been assessed as equivalent to EEA standards.

A X denotes that the requirements have been assessed as not being equivalent to EEA standards.

Note 2: √ International standardised approach only. The treatment of the Lombard loans is not equivalent and they must be treated under the appropriate regulator's rules.

Part 2 (Non–EEA investment firm regulators' requirements deemed CRD-equivalent for individual risks)

Regime regulators

Market risk

Credit risk

Operational Risk

Australia

Sydney Futures Exchange

Australian Stock Exchange

X

X

X

X

Canada

Ontario Securities Commission

Quebec Securities Commission

British Columbia Securities Commission

Alberta Securities Commission

Investment dealers Association of Canada

X

X

X

X

X

X

X

X

X

X

Hong Kong

Hong Kong Monetary Authority [HKMA]

Hong Kong Securities and Futures Commission

X

X

X

X

Japan

Financial Services Agency, Japan [JFSA]

X

X

Singapore

Monetary Authority of Singapore [MAS]

Stock Exchange of Singapore

X

X

X

X

South Africa

South African Futures Exchange

Johannesburg Stock Exchange

Bond Exchange of South Africa

X

X

X

X

X

X

Switzerland

Swiss Federal Banking Commission [EBK]

√ Note 2

USA

Securities & Exchange Commission (SEC): Net Capital rule only

Commodities and Futures Trading Commission

√ Note 3

1

X

X

X

Note 1: A √ denotes that the requirements have been assessed as equivalent to EEA standards.

A X denotes that the requirements have been assessed as not being equivalent to EEA standards.

Note 2: √ International standardised approach only. The treatment of Lombard loans is not equivalent and they must be treated under the appropriate regulator's rules.

Note 3: √ Where entities are subject to a local regulatory capital requirement.