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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Prudential — Investment, Insurance Intermediation and Banking Module (PIB) [VER33/02-19]
PIB 3 Capital
PIB 3 Part 4 — Calculating Capital Resources
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DFSA Codes of Practice
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  Versions
(1 version)
 
Dec 9 2012 onwards

PIB 3.13.16



Whole Section PDF

The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

(1) For the purposes of PIB Rule 3.13.7(g), the amount to be deducted is calculated by multiplying the amount referred to in (a) by the factor derived from the calculation referred to in (b):
(a) the aggregate amount by which the direct, indirect and synthetic holdings by the Authorised FirmG of the CET1, AT1 and T2 Capital instruments of Relevant EntitiesG , in which the Authorised FirmG does not have a significant investment, exceeds 10% of the CET1 items of the Authorised FirmG calculated after applying the following to CET1 items:
(i) all of the adjustments referred to in Rules PIB 3.13.5 and PIB 3.13.6;
(ii) the deductions referred to in PIB Rule 3.13.7(a) to (f) and (h) to (j), excluding the amount to be deducted for deferred tax assets that rely on future profitability and arise from temporary differences; and
(iii) the deductions referred to in Rules PIB 3.13.14 and PIB 3.13.15;
(b) the amount of direct and indirect holdings by the Authorised FirmG of the CET1 Capital instruments of Relevant EntitiesG divided by the aggregate amount of direct and indirect holdings by the Authorised FirmG of the CET1, AT1 and T2 Capital instruments issued by those Relevant EntitiesG .
(2) An Authorised FirmG must exclude UnderwritingG positions held for 5 working days or fewer from the amount referred to in (1)(a) and from the calculation of the factor referred to in (1)(b).
(3) The amount to be deducted pursuant to (1) must be apportioned across each CET1 Capital instrument held. An Authorised FirmG must determine the portion of holdings of CET1 Capital instruments that is to be deducted pursuant to (1) by dividing the amount specified in (a) by the amount specified in (b):
(a) the amount of holdings required to be deducted pursuant to (1)(a);
(b) the aggregate amount of direct and indirect holdings by the Authorised FirmG of all the capital instruments of Relevant EntitiesG in which the Authorised FirmG does not have a significant investment.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]