BGF Act definition

BGF Act means a Polish Act of 10 June 2016 on bank guarantee fund, the deposit guarantee scheme and resolution (as amended from time to time);
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Examples of BGF Act in a sentence

  • The BRRD and the BGF Act implementing into the Polish law regulations concerning resolution introduced the Minimum Requirement for Eligible Liabilities and Own Funds (the "MREL") for banks.

  • The MREL responds to the need for an adequate level of liabilities that can be converted to capital (or written down) in the event of material financial distress and that resolution can be carried out without involving public funds.In connection with the adoption of the EU Banking Reform Legislation and the subsequent amendments to the BGF Act, which came into force on 15 September 2021, the Bank Guarantee Fund (the "BGF") has modified its existing approach to determination of the MREL requirement.

  • In connection with the adoption of the EU Banking Reform Legislation and the subsequent amendments to the BGF Act which came into force on 15 September 2021, the Bank Guarantee Fund (the "BGF") has modified its existing approach to the determination of the MREL requirement.

  • The total MREL should be satisfied with own funds and eligible liabilities under Article 98 of the BGF Act transposing Article 45f(2) of the BRRD2.Further, the BGF stated that the recapitalisation-equivalent portion of the MREL should be met with the following instruments: additional Tier 1 (AT1) instruments, Tier 2 (T2) instruments and other subordinated eligible liabilities bought directly or indirectly by the parent entity.

  • The establishment of such logical equivalence means that, both in theoretical and practical terms, the application of the resolution instruments described in the BGF Act to a cooperative savings and credit union is virtually excluded.

Related to BGF Act

  • TIF Act means Minnesota Statutes, Sections 469.174 through 469.1794, both inclusive.

  • FW Act means the Fair Work Act 2009, as amended from time to time.

  • FOI Act means the Freedom of Information Act 2000 and any subordinate legislation made under that Act or any code issued pursuant to sections 45 or 46 of that Act or any guidance issued by the Information Commissioner;

  • PBR Act means the Plant Breeder’s Rights Xxx 0000 (Cth) as amended from time to time.

  • FMC Act means the Financial Markets Conduct Act 2013.

  • Civil Relief Act The Soldiers' and Sailors' Civil Relief Act of 1940, as amended.

  • the 1981 Act which means the Compulsory Purchase (Vesting Declarations) Act 1981.

  • ACNC Act means the Australian Charities and Not-for-profits Commission Act 2012 (Cth).

  • OHS Act means the Occupational Health and Safety Act 2004;

  • POPI Act means the Protection of Personal Information Act, 4 of 2013;

  • former Act means the Companies Act or the International Business Companies Act;

  • Servicemember means a member of a uniformed service.

  • WHS Act means the Work Health and Safety Act 2011 (Qld) or the Work Health and Safety (National Uniform Legislation) Act 2012 (NT), where applicable. WHS EPH means Workplace Health and Safety Entry Permit Holders under the WHS Act. Workplace Impairment Policy and Procedures means the Workplace Impairment Policy and Procedures found in APPENDIX 4.

  • Relief Act The Soldiers' and Sailors' Civil Relief Act of 1940, as amended.

  • Cannabis Act means An Act respecting cannabis and to amend the Controlled Drugs and Substances Act, the Criminal Code and other Acts, S.C. 2018, c. 16, as amended from time to time.

  • Charter Act The Federal National Mortgage Association Charter Act (12 U.S.C. § 1716

  • FAIS Act means the Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002);

  • the 1961 Act means the Land Compensation Act 1961(d); “the 1965 Act” means the Compulsory Purchase Act 1965(e); “the 1980 Act” means the Highways Act 1980(f);

  • Water Act, as used in this clause, means Clean Water Act (33 U.S.C. 1251 et seq.).

  • the 1991 Act means the Water Industry Act 1991(a);

  • ECT Act means the Electronic Communications and Transaction Act No 25 of 2002, as amended;

  • Corrupt Act means any offence in respect of corruption or corrupt activities contemplated in the Prevention and Combating of Corrupt Activities Act No. 12 of 2004;

  • HITECH Act means the Health Information Technology for Economic and Clinical Health Act, TitleXIII, Subtitle D, Part 1 & 2 of the American Recovery and Reinvestment Act of 2009.

  • the 1992 Act means the Local Government Finance Act 1992;

  • 2012 Act means the Health and Social Care Act 2012;

  • the 1972 Act means the Local Government Act 1972.