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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Rulebook Modules
Prudential — Investment, Insurance Intermediation and Banking Module (PIB) [VER33/02-19]
PIB 3 Capital
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  Versions
(1 version)
 
Jan 1 2018 onwards

PIB 3.9A.9 Guidance



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. CCyB Rates are usually specified to apply after an advance announcement period i.e. a period between when it is announced and when it takes effect, which gives Authorised FirmsG sufficient time to adopt the new capital buffer. The effect of PIB Rule 3.9A.9(2)(a) is that Authorised FirmsG will usually have 12 months from the announcement to adopt a buffer.
2. As a transitional measure, PIB Rule 3.9A.9(2)(b) has the effect that Authorised FirmsG will have at least 6 months from the day on which this section commences (1 January 2018) to adopt a buffer, even if the relevant rate was announced 12 months before the day the section commences.

For example: If a CCyB Authority announced on 1 February 2017 a CCyB Rate of 1% that would apply to credit exposures in its jurisdiction, this would usually take effect on 1 February 2018. However, under PIB Rule 3.9A.9(2)(b), instead an Authorised FirmG has until 1 July 2018 (6 months after the commencement of this Rule) to adopt the buffer.
Derived from DFSA RM209/2017 (Made 25th October 2017). [VER30/01-18]