Prudential Regulation Authority Rulebook

2.1

The combined buffer will include the capital conservation buffer (CCoB), the countercyclical capital buffer (CCyB), the buffer for Global Systemically Important Institutions (G-SII buffer) , the buffer for other systemically important institutions (O-SII buffer) and the systemic risk buffer — if applicable to a firm, as required by CRD. The frameworks for the CCoB, the CCyB and capital conservation measures when a firm does not meet its combined buffer are set out in the PRA’s capital buffers rules.

2.2

The G-SII buffer and O-SII buffer are firm specific. Where applicable to a firm, the G-SII buffer and the O-SII buffer will be set by the PRA using its powers under section 55M of the Financial Services and Markets Act (2000), which will have the effect of increasing the size of the combined buffer a firm must meet to avoid restrictions on distributions.