Statutory Loss Absorption Regime definition

Statutory Loss Absorption Regime means any statutory regime which provides any relevant authority the powers to implement loss absorption measures in respect of capital instruments (such as the Notes), including, any such regime that may be implemented pursuant to the applicable rules or which contain provisions analogous to those regarding the implementation of loss absorption measures in respect of capital instruments (such as the Notes).

Statutory Loss Absorption Regime means any statutory regime implemented in the Kingdom of Saudi Arabia which provides the Financial Regulator with the powers to implement loss absorption measures in respect of capital instruments (such as the Certificates), including, but not limited to, any such regime which is implemented pursuant to Basel III;

Statutory Loss Absorption Regime means any statutory regime implemented or directly effective in Iceland which provides any Relevant Resolution Authority with the powers to implement loss absorption measures in respect of capital instruments (such as the Notes), including, but not limited to, any regime resulting from the implementation in Iceland of, or which otherwise contains provisions analogous to, Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms, as amended or replaced from time to time.

Examples of Statutory Loss Absorption Regime in a sentence

• If the Bank becomes Non-Viable on or after the Effective Date, the Financial Regulator (or the Bank on instructions from the Financial Regulator) may take such action in respect of the Certificates as is required or permitted by such Applicable Statutory Loss Absorption Regime.

• The provisions of this Condition 11 (Write-down at the Point of Non-Viability) will lapse and cease to apply with effect from (and including) the date on which the Applicable Statutory Loss Absorption Regime becomes effective in respect of the Certificates (the “Effective Date”), except to the extent such provisions are required by the Applicable Statutory Loss Absorption Regime.

• The provisions of this Condition 11 (Write-down at the Point of Non-Viability) will lapse and cease to apply with effect from (and including) the date on which the Applicable Statutory Loss Absorption Regime becomes effective in respect of the Certificates (the Effective Date), except to the extent such provisions are required by the Applicable Statutory Loss Absorption Regime.

• With effect on and from the date on which the Applicable Statutory Loss Absorption Regime becomes effective, the foregoing provisions of this Condition 11 (Write-Down at the Point of Non-Viability for Subordinated Certificates) will lapse and cease to have any effect, except to the extent such provisions are required by the Applicable Statutory Loss Absorption Regime.

• If the Mudareb becomes Non-Viable on or after the Effective Date, the Financial Regulator (or the Mudareb on instructions from the Financial Regulator) may take such action in respect of the Certificates as is required or permitted by such Applicable Statutory Loss Absorption Regime.

More Definitions of Statutory Loss Absorption Regime

Statutory Loss Absorption Regime means any legal, statutory or regulatory regime or requirement implemented in South Africa which provides the Prudential Authority or anotherdedicated authority with (i) special resolution powers in respect of systemically-important and other financial institutions and/or (ii) the power to implement principal loss absorption measures in respect of capital instruments (such as the Notes), including, but not limited to, any such regime or requirement which is implemented pursuant to Basel III (being the set of minimum global standards for banks issued by the Basel Committee on Banking Supervision in December 2010 and revised in July 2011, or its successor or replacement standard).

Statutory Loss Absorption Regime means any statutory regime implemented or directly effective in Spain which provides any administrative agency or governmental authority (including, without limitation, the Fondo de Reestructuración Ordenada Bancaria (Fund for the Orderly Restructuring of Banks, the "FROB")), or any successor authority with the powers to implement any loss absorption measures in respect of capital instruments (such as theSubordinated Notes), including, but not limited to, Law 9/2012 of 14 November, on restructuring and resolution of credit entities ("Law 9/2012") and any such regime which is implemented pursuant to the RRD or which otherwise contains provisions analogous to those regarding the implementation of loss absorption measures in respect of capital instruments contained in the RRD;

Statutory Loss Absorption Regime means any Capital Regulations implemented in South Africa which provide the Prudential Authority with (i) special resolution powers in respect of systemically-important and other financial institutions and/or (ii) the power to implement loss absorption measures in respect of capital instruments (such as Additional Tier 1 Capital Notes and Tier 2 Capital Notes) in accordance with Basel III (being the set of minimum global standards for banks issued by the Basel Committee on Banking Supervision in December 2010 and revised in July 2011, or its successor or replacement standard) and which Capital Regulations so implemented:

Statutory Loss Absorption Regime means any Capital Regulations implemented in South Africa which provide the Prudential Authority with (i) special resolution powers in respect of systemically-important and other financial institutions and/or (ii) the power to implement loss absorption measures in respect of capital instruments (such as Additional Tier 1 Capital Notes and Tier 2 Capital Notes) in accordance with Basel III or its successor or replacement standard and which Capital Regulations so implemented:

Statutory Loss Absorption Regime means any laws, regulations, rules or requirements in effect in Iceland, (including, but not limited to, the Act on Resolution of Credit Institutions and Investment Firms No. 70/2020 and the Act on Financial Undertakings No. 161/2002 as well as secondary laws enacted on the basis of those Acts), which provide any Relevant Resolution Authority with any powers in respect of the Notes as a result of the implementation in Iceland of, (or such laws, regulations, rules or requirements otherwise containing provisions analogous to), Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms, including as amended by Directive 2019/879/EU, and as further amended or replaced from time to time;

Statutory Loss Absorption Regime means any legal, statutory or regulatory regime or requirement implemented in South Africa pursuant to Applicable Laws which provides the Relevant Regulator with the power to implement principal loss absorption measures in respect of capital instruments (such as Tier 2 Capital), including, but not limited to, any such regime or requirement which is implemented pursuant to the Basel III regulatory framework introduced by the Basel Committee on Banking Supervision;

Statutory Loss Absorption Regime means any legal, statutory or regulatory regime or requirement implemented in South Africa which provides the Prudential Authority or another dedicated authority with (i) special resolution powers in respect of systemically-important and other financial institutions and/or (ii) the power to implement principal loss absorption measures in respect of capital instruments (such as Additional Tier 1 Capital and Tier 2 Capital) in accordance with Basel III (being the setof minimum global standards for banks issued by the Basel Committee on Banking Supervision in December 2010 and revised in July 2011, or its successor or replacement standard) and which legal, statutory or regulatory regime or requirement so implemented: