Question ID
2019_4719
Legal act
Regulation (EU) No 575/2013 (CRR)
Topic
Own funds
Article
77
COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
Regulation (EU) No 241/2014 - RTS for Own Funds requirements for institutions
Article/Paragraph
28(2)
Type of submitter
Competent authority
Subject matter
Moment of deduction for cooperative shares
Question

In the case of a cooperative institution, should deductions from own funds with regard to a permission to reduce CET1 capital in accordance with Article 77(a) of Regulation (EU) No 575/2013 (CRR) and Article 32 of the RTS on Own Funds be made right after the permission from the competent authority (CA) is granted (as laid down in Article 28 (2) of the RTW on Own Funds ) or could it be later for instance at the time when the institution receives the notification of the intention to redeem from the shareholder?

Background on the question

The context was the situation where a bank wants to redeem an AT1 instrument and has obtained the permission from the competent authority but has not yet announced the redemption to the market/holders.

Submission date
Rejected publishing date
Rationale for rejection

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Status
Rejected question