Art. 78

in force 2023-06-28 MODIFIED±0§

Amended by Regulation (EU) 2019/876 32019R0876

applies from: unknown

Sources disagree — the amending act's instructions found this change; the text comparison finds no difference in the provision's text and the EU's own amendment metadata does not list it. All are shown; none is overruled.

No explanation shipped — the structural diff did not see this change, so it carries no text; another signal named the unit and the disagreement ships as `disputed`.

in force 2021-09-30 MODIFIED§

Amended by Regulation (EU) 2021/424 32021R0424

applies from: unchanged

Sources disagree — the text comparison found this change; the EU's own amendment metadata does not list it and the amending act's instructions do not mention it. All are shown; none is overruled.

The only textual difference is in paragraph 1's third subparagraph, where the phrase describing the margin the competent authority considers necessary changes from being introduced with "by" to being joined with "and" after the reference to Directives 2013/36/EU and 2014/59/EU.

Cited: Art. 78, v1 · Art. 78, v2

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in force 2020-12-28 MODIFIED§

Amended by Regulation (EU) 2019/876 32019R0876

applies from: unknown

Sources disagree — the amending act's instructions found this change; the text comparison finds no difference in the provision's text and the EU's own amendment metadata does not list it. All are shown; none is overruled.

No explanation shipped — the structural diff did not see this change, so it carries no text; another signal named the unit and the disagreement ships as `disputed`.

text before / after, on the event page →

in force 2019-06-27 MODIFIED§

Amended by Regulation (EU) 2019/876 32019R0876

applies from: unchanged

The heading changes from "Supervisory permission for reducing own funds" to "Supervisory permission to reduce own funds", and paragraph 1 is expanded to cover reducing, calling, redeeming, repaying or repurchasing instruments, and now also to reducing, distributing or reclassifying related share premium accounts, with the margin test in point (b) referring to own funds and eligible liabilities exceeding requirements under this Regulation and Directives 2013/36/EU and 2014/59/EU rather than the prior wording tied to Article 92(1) and the combined buffer requirement.

Paragraph 1 gains new subparagraphs allowing a general prior permission for future actions under Article 77(1), subject to time limits, predetermined percentage caps, and withdrawal by competent authorities if criteria are breached, none of which appeared before.

Paragraph 4 broadens the range of covered actions and adds new grounds (c) grandfathering under Article 494b, (d) replacement of instruments justified by exceptional circumstances, and (e) repurchase for market making purposes, while paragraph 5(c) is reworded to also address limits and procedures for advance approval by competent authorities.

Cited: Art. 78, v1 · Art. 78, v2

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detected 2026-08-13 MODIFIED§

no amending act named

applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)

dates added to the text: 2013-07-28 · dates removed: 2015-02-01

In paragraph 1, the introductory phrase changed from referring to any of the following conditions to either of the following conditions.

In paragraph 3, the waiver clause changed from stating the competent authority requires the institution to limit redemption to stating that the competent authority requires that the institution limit redemption, a wording adjustment with the same substance.

In paragraph 5, the deadline for EBA to submit draft regulatory technical standards to the Commission changed from 1 February 2015 to 28 July 2013.

Cited: Art. 78, v1 · Art. 78, v2

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