Part 1 Introduction

Citation, commencement and extent

1.—(1) These Regulations may be cited as the Financial Services and Markets Act 2023 (Prudential Regulation of Credit Institutions) (Consequential Amendments) Regulations 2025.

(2) These Regulations come into force on 1st January 2026.

(3) These Regulations extend to England and Wales, Scotland and Northern Ireland.

Part 2 Amendment of Primary Legislation

Banking Act 2009

2. In section 3(1) (interpretation: other expressions) of the Banking Act 2009(2)—

(a)in the definition of “Common Equity Tier 1 instruments”(3)—

(i)after “to (4),” insert “or”;

(ii)omit “or 31(1)”;

(b)in the definition of “own funds requirements”(4), for “to” substitute “and”.

Part 3 Amendment of Secondary Legislation

Bank Recovery and Resolution (No. 2) Order 2014

3. In articles 64(2) (interpretation of Chapter 3) and 68(2) (interpretation of Chapter 4) of the Bank Recovery and Resolution (No. 2) Order 2014(5), in the definition of “response period”(6), in sub-paragraph (a), omit “, as applicable,” and “the requirements referred to in Articles 92a and 494 of the capital requirements regulation or”.

Financial Conglomerates and Other Financial Groups (Amendment etc.) (EU Exit) Regulations 2019

4. In regulation 7(6) (transfer of functions to the competent authorities to ensure consistent application of the technical calculation methods of capital adequacy requirements for regulated entities in a financial conglomerate) of the Financial Conglomerates and Other Financial Groups (Amendment etc.) (EU Exit) Regulations 2019(7), omit sub-paragraph (a) and the “and” after it.

Bank Levy (Loss Absorbing Instruments) Regulations 2020

5. In regulation 2 (interpretation) of the Bank Levy (Loss Absorbing Instruments) Regulations 2020(8), in the definition of “relevant requirement”, in paragraph (b), omit “or article 92a”.