Decree of the Czech National Bank No. 333 / 2002 Coll.
Order of the Czech National Bank laying down rules on prudent business of controlling persons on a consolidated basis
Valid
Effective from 01.08.2002
Contents
ČÁST PRVNÍ
§ 1
§ 2
ČÁST DRUHÁ
§ 3
§ 4
§ 5
§ 6
ČÁST TŘETÍ
HLAVA I
§ 7
§ 8
§ 9
§ 10
§ 11
HLAVA II
§ 12
HLAVA III
§ 13
§ 14
§ 15
§ 16
HLAVA IV
§ 17
§ 18
HLAVA V
§ 19
§ 20
§ 21
§ 22
§ 23
§ 24
HLAVA VI
Díl 1
§ 25
§ 26
§ 27
Díl 2
§ 28
Díl 3
§ 29
§ 30
§ 31
§ 32
§ 33
§ 34
HLAVA VII
§ 35
§ 36
§ 37
§ 38
§ 39
§ 40
HLAVA VIII
§ 41
§ 42
§ 43
§ 44
HLAVA IX
Díl 1
§ 45
§ 46
§ 47
Díl 2
§ 48
§ 49
§ 50
§ 51
§ 52
§ 53
HLAVA X
Díl 1
§ 54
§ 55
§ 56
Díl 2
§ 57
§ 58
§ 59
§ 60
§ 61
HLAVA XI
§ 62
§ 63
§ 64
§ 65
§ 66
§ 67
§ 68
§ 69
HLAVA XII
§ 70
ČÁST ČTVRTÁ
§ 71
§ 72
§ 73
§ 74
§ 75
§ 76
§ 77
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333
DECLARATION
Czech National Banks
of 3 July 2002
laying down rules on prudent business of controlling persons on a consolidated basis
The Czech National Bank pursuant to § 26d (3) and § 26f (1) and (2) of Act No. 21 / 1992 Coll., on Banks, as amended by Act No. 126 / 2002 Coll., and § 41 (3) of Act No. 6 / 1993 Coll., on the Czech National Bank, as amended by Act No. 127 / 2002 Coll., provides:
INTRODUCTORY PROVISIONS
Subject matter
(1) The Order provides for:
(a) criteria for excluding persons from the banking supervision of consolidation total, 1)
(b) the scope, manner and timing of the information obligations of the persons included in the consolidation unit, which those persons perform against the Czech National Bank;
(c) the rules on prudent business of controlling persons on a consolidated basis which establish a regulated consolidation unit, including the application of methods for consolidating the data of members of a regulated consolidation unit.
(2) The obligations arising from this Order shall not apply to persons included in the consolidation whole if the Czech National Bank notifies the controlling bank, the financial holding company, the mixed holding company or the bank that is a member of that consolidation unit that it forgoes the exercise of banking supervision on a consolidated basis over that consolidation total, (2) until the Czech National Bank notifies the controlling bank, the financial holding company, the mixed holding company or the bank that is a member of that consolidation entity that it reacts to exercise banking supervision on a consolidated basis over that consolidation total.
(3) The controlling bank, the financial holding company, the mixed holding company or the bank which is a member of the consolidation unit, whose supervision on a consolidated basis has been abandoned by the Czech National Bank, will immediately notify the Czech National Bank of new facts justifying the re-accession to the exercise of banking supervision on a consolidated basis over that consolidation total.
Definition of terms
For the purposes of this decree:
(a) a bank in the State of the zone A person authorised to receive deposits from the public and to grant loans on the basis of a permit granted by an authority of a State located in zone A. The branch of such a person operating in zone B State shall be treated as a bank in zone A State,
(b) a bank in zone B State authorised to receive deposits from the public and to grant loans on the basis of an authorisation granted by an authority of a State located in zone B. The branch of such a person operating in zone A State shall be considered as a bank in zone B State,
(c) by the central government of the Ministry and the departments of the executive agencies of the central government and government agencies, established or hired by the government, serving public purposes whose obligations are fully guaranteed by an unconditional, explicit and unlimited guarantee of the State;
(d) delta equivalent to the product of the fair value of the underlying instrument and delta option;
(e) the delta option ratio of the change in the fair value of the option and the change in the fair value of the underlying instrument concerned; it is the first derivative of the fair value of the option according to the fair value of the underlying,
(f) the gamma ratio of the change in the delta option and the change in the fair value of the underlying instrument concerned; it is the second derivative of the fair value of the option according to the fair value of the underlying,
(g) a global deposit guarantee (GDR) security representing shares of other persons whose holdings do not result in voting rights and are identified as a global deposit guarantee (GDR) in the relevant language;
(h) equity investments in shares, other shares, in particular in limited liability companies, public companies, limited companies, cooperatives, and subordinated debts included in the capital of banks, securities dealers or insurance undertakings;
(i) commodity commodity commodity or commodity derivative as underlying;
(j) the commodity physical product traded or may be traded on the secondary market;
(k) Macaulay's duration weighted average of the periods between the present and the maturities of each cash flow, where the weights are the real values of their corresponding cash flows. Macaulay Durace D counts as
D = ITETC1 + rt ITEC1 + rt,
(l) the value of the financial instruments determined by the clearing centre that the person must transfer to the clearing house account as collateral for the duration of futures or stock options;
(m) international financial institutions
1. The European Investment Bank (EIB),
2. international development banks, namely the International Bank for Reconstruction and Development, the International Financial Corporation, the Inter-American Development Bank, the Asian Development Bank, the African Development Bank, the Council of Europe's Resettlement Fund, the Nordic Investment Bank, the Caribbean Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the InterAmerican Investment Corporation and the Multilateral Investment Guarantees Agency (2a);
(n) the interim profit of the current period, the profit recorded in the interim financial statements;
(o) gold in gold in marketable alloys according to the LBMA standard (London Bullion Market Association),
(p) modified duration (Dmod) the proportion in which the numerator is Macaulay duration (D) and in the denominator is the sum of one and the return to maturity (r),
(q) assets and liabilities;
(r) general risk of unfavourable price movement of instruments related to the assessment of the economic environment by market participants;
(s) a financial institution's securities dealer whose continuing activity is the provision of the main investment services to third parties. The financial institution shall have the authority of the competent authority in the State of its registered office to act and shall be subject to at least the regulation required by Directive 93 / 6 / EEC,
(t) the underlying instrument of the instrument from which the derivative is composed;
(u) assets (long positions) or liabilities (short positions) resulting from the instrument. The tool contains one or more positions,
(v) the special drawing rights (SDR) currency used by the International Monetary Fund to express a member interest or, where applicable, the amount of borrowing by a Member State;
(w) the specific risk of adverse price movement for instruments related to the assessment of the issuer or debtor by market participants;
(x) jointly managed by an affiliated company which is a bank, a financial institution with the exception of an insurance undertaking or an ancillary banking services undertaking, provided that:
1. A member of a regulated consolidation entity, together with at least one person not included in the regulated consolidation entity, shall participate in the management of such an associated company; and
2. the liability or liability of a person or persons not included in a regulated consolidation unit involved in the management of an associate for the liabilities of an associate shall be limited to their share in the capital of that associate;
(y) spot transactions for the purchase or sale of financial instruments or commodities with a delivery date such that the period from trade to settlement is not more than 2 days or, where applicable, longer than any other period according to the market practice;
(z) provisions for standard credit claims established under a special law.
(2) For the purposes of this Order, the following definitions shall also apply:
(a) a recognised exchange, recognised by the competent authorities, which operates regularly, shall have rules issued or approved by the competent authorities of the country of registered office of the stock exchange which define the conditions under which the stock exchange operates, the conditions of access to the stock exchange and the conditions which the contract must meet in order to be able to be traded on the stock exchange contract. In the case of a derivative exchange, the clearing mechanism of that exchange provides that derivatives are subject to daily margin updates which, in the opinion of the competent authorities, provide appropriate protection for market participants,
(b) the weighted sum of modified durations of individual instruments weighted by the real values of those instruments;
(c) a vega change in the fair value of the option in the unit volatility change of the underlying; it is the first partial derivative of the fair value of the option according to the volatility of the underlying,
(d) the Government of the State Department and the Department of the Executive Offices of these Governments of the Territorial Units of States (Republics, Cantons and the like) and other institutions and agencies whose obligations are fully guaranteed by an unconditional, explicit and unlimited guarantee of the Territorial Unit of the State;
(e) a government-backed institution, any institution set up or hired by a government serving public purposes whose obligations are not necessarily, explicitly and unrestricted by the central government, shall be:
1. state funds according to special legislation, in particular the State Fund for Culture of the Czech Republic, State Fund for the Promotion and Development of Czech Cinematography, State Environmental Fund of the Czech Republic, State Agricultural Intervention Fund, State Fund for Land Management, State Fund for Housing Development, State Fund for Transport Infrastructure,
2. Deposit Guarantee Fund,
3. National Property Fund of the Czech Republic,
4. Land Fund of the Czech Republic,
5. Support and guarantee peasant and forestry fund,
6. Export Guarantee and Insurance Company, a. s., with the exception of obligations guaranteed by the State's express guarantee pursuant to § 8 (1) (a) of Act No. 58 / 1995 Coll., on Insurance and Financing of Exports with State Aid,
(f) a security with which the right of its holder to purchase the instrument at an agreed price in the period to maturity or the maturity date of the guarantee is attached. Settlement may take place either by delivery of the instrument or by cash,
(g) Zone A all Member States of the European Economic Area (EEA) and all other countries that are full members of the OECD and countries that have concluded a credit agreement with the International Monetary Fund under the so-called General Arrangements to Borrow (GAB). As of June 2002, the following countries were: Australia, Belgium, Czech Republic, Denmark, Finland, France, Ireland, Italy, Iceland, Japan, Canada, Korea, Liechtenstein, Luxembourg, Hungary, Mexico, Germany, Netherlands, Norway, New Zealand, Poland, Portugal, Austria, Greece, Saudi Arabia, Slovak Republic, United Kingdom, United States, Spain, Sweden, Switzerland, Turkey. A country that has restructured or applied for the restructuring of its sovereign external debt shall not be included in Zone A for the following five years,
(h) zone B all countries not included in zone A.
CONSOLIDATION RULES
Rules for the establishment of a consolidation unit and a regulated consolidation unit
(1) The controlling bank, the financial holding company and the mixed holding company will set up a consolidation unit consisting of itself and all its controlled persons and associated companies.
(2) The controlling bank and the financial holding company (hereinafter referred to as the "controlling person") shall further establish a regulated consolidation unit consisting of it itself and persons who are:
(a) banks, financial institutions, except insurance undertakings and ancillary banking services undertakings, (3) if they are controlled by them;
(b) jointly managed undertakings.
(3) A controlled entity or a jointly managed undertaking need not be included in a regulated consolidation entity if at least one of the following criteria is met:
(a) the controlled person or jointly managed undertaking is established in a country where there are legal obstacles to the transfer of the necessary information or obstacles to the transfer of profits;
(b) the net amount of the value of the assets of an individual controlled person or an individual jointly controlled undertaking does not reach the smaller of the following two values: CZK 300 million or 1% of the total net amount of the assets of the controlling person. However, if the total net amounts of the assets of such controlled entities and jointly controlled undertakings reach at least CZK 300 million or 1% of the total net amount of the assets of the controlling entity, those controlled entities and joint controlled undertakings shall be included in the regulated consolidation unit,
(c) the share of the controlled person or jointly managed undertaking is held with the intention of selling in the near future. If no sale is made within one year of the acquisition of the holding, this exemption shall not apply and the controlled person or jointly managed undertaking shall be included in the regulated consolidation unit,
(d) the controlled person or jointly managed undertaking is in bankruptcy or liquidation.
(4) The controlling person shall demonstrate to the Czech National Bank compliance with the criteria set out in paragraph 3 (a) to (d).
Scope of the information obligation
(1) The controlling person and the mixed holding company shall present to the Czech National Bank a graphical representation of the structure of the consolidation unit and a list of its controlled persons and associated companies, indicating for each of them:
(a) a business name, identification number and sectoral classification of economic activities;
(b) subscribed and paid-up capital;
(c) the amount of the direct and indirect share of the controlling person or mixed holding company in capital and voting rights, or any other way in which it exercises a decisive or significant influence in the controlled persons or associates;
(d) the names of the persons who are the statutory body or members of the statutory body and the supervisory board or other supervisory authority of the controlled person, indicating their birth numbers and the companies in whose organs they operate, including the subject of the business of those companies;
(e) the subject matter of the business (s) registered in the commercial register and the definition of the activities actually carried out;
(f) the name and address of the authority having its registered office abroad which oversees the financial activity of the controlled person or associated company;
(g) an overview of the services provided to the controlling party and the mixed holding company;
(h) a list of other persons having a qualified participant (3) in the controlled person, indicating the amount of their direct or indirect share of the capital and voting rights, or the manner in which such persons exercise a significant influence in the controlled person;
(i) whether and to which auditor or audit firm ("auditor") will be audited.
(2) The controlling person and the mixed holding company shall submit to the Czech National Bank information on themselves within the scope of paragraph 1 (a), (b), (d), (e), (f) and (i).
(3) The controlling person will also submit to the Czech National Bank
(a) a graphical representation of the structure of the regulated consolidation unit, indicating the method of consolidation (Paragraph 6), indicating, where appropriate, whether the aggregation method plus (Paragraph 8 (5) and (6)) will be used, for each individual controlled entity and jointly managed undertaking;
(b) the names of the persons who are the statutory body or members of the statutory body and the supervisory board or other supervisory authority of the jointly managed undertaking, indicating their birth numbers and the commercial companies in whose bodies they operate, including the subject of the business of those firms;
(c) a list of other persons who have a qualified participation in a jointly managed undertaking, indicating their direct or indirect share of the capital and voting rights and, where appropriate, the manner in which such persons exercise a significant influence in a jointly managed undertaking;
(d) the list of controlled persons and jointly managed undertakings not included in the regulated consolidation unit in accordance with Article 3 (3), together with a valid justification;
(e) a list of persons with a qualifying holding in the controlling party, indicating the amount of their direct and indirect share of the capital and voting rights, and, where appropriate, the manner in which the decisive or significant influence is exercised in the controlling party;
(f) an overview of the services provided by the controlling party to other members of the consolidation unit and an overview of the services provided between the members of the consolidation unit;
(g) further information if needed to clarify the structure and links of the consolidation unit and the regulated consolidation unit.
Date of implementation of the information obligation
(1) The controlling officer and the mixed holding company shall submit the information to the extent provided for in Article 4 on a regular basis on 31 December at the latest by 31 January of the following year.
(2) Persons who become a controlling person or a mixed holding company after 31 December 2002 shall submit to the Czech National Bank the first information referred to in Article 4 without delay, according to the immediate condition, and shall proceed in accordance with paragraph 1.
(3) The controlling person and the mixed holding company shall inform the Czech National Bank without delay of any changes to the information requirements of Section 4. Where the change concerns the consolidation unit structure or the regulated consolidation unit, they shall attach a new graphic representation of the structure.
(4) A financial holding company and a mixed holding company are to submit information for persons forming part of a consolidation unit or a regulated consolidation unit themselves or through a bank that is a member of that entity.
Methods for consolidating the data of members of a regulated consolidation unit
For the consolidation of the data of members of a regulated consolidation unit, the controller shall use only the following methods of consolidation according to international accounting standards:
(a) complete for the consolidation of data controlling persons and persons controlled;
(b) proportional to the consolidation of data by controlling persons and jointly managed undertakings.
RULES ON REVIEW ENTERPRISING PERSONS ON THE CONSOLIDATED BASIS
DEFINITION OF THE RULES ON REVIEW UNDERTAKING
Rules on prudent business
For the purposes of this decree, prudential business rules for controlling persons that compile a regulated consolidation entity shall mean capital adequacy and rules on credit exposures on a consolidated basis. To that end, this Part shall specify:
(a) the structure of own funds on a consolidated basis, meaning the own funds of a regulated consolidation entity;
(b) the procedure for calculating the capital requirement of a regulated consolidation unit for:
1. credit risk of the banking and trading book;
2. the exposure risk of the trading book;
3. market risk, which is general interest rate, general equity, monetary and commodity risk;
4. options,
(c) the procedure for calculating solvency on a consolidated basis;
(d) the solvency limit on a consolidated basis;
(e) credit exposure limit on a consolidated basis, meaning the limit on the net exposure of the banking book.
Capital requirements
(1) Capital requirement means the value in crowns calculated in accordance with the procedures set out in Titles III to X, expressing the need for adequate capital coverage of the risks to be taken. The capital requirement is composed of capital requirement A and capital requirement B.
(2) Capital requirement A regulated consolidation entity is equal to the own funds requirement for the credit risk of the banking book (Title III).
(3) Capital requirement B of the regulated consolidation unit is equal to the sum of capital requirements
(a) the credit risk of the trading book (Title IV);
(b) the exposure risk of the trading book (Title V);
(c) general interest rate risk (Title VI);
(d) general equity risk (Title VII);
(e) foreign exchange risk (Title VIII);
(f) commodity risk (Title IX).
The own funds requirement for options is added according to the title The amount to be reported in column 060 of this row:
(4) In order to consolidate the interest and equity positions of the trading book instruments and the currency and commodity positions of the banking and trading book instruments of the controlling person and the controlled person or jointly managed undertaking, the controlling person may use the method of full consolidation or proportional consolidation, provided that the following criteria are met simultaneously:
(a) the controlling person manages the risks on a consolidated basis;
(b) the person controlled or jointly managed by the undertaking is obliged to comply with and comply with a defined capital adequacy limit on an individual basis under a specific legislation or foreign legislation corresponding to the relevant European CommunityDirective (4);
(c) the transfer of individual components of own funds within a regulated consolidation unit is not prevented by the law of that country.
(5) In cases not referred to in paragraph 4, the aggregation method shall be used for determining the capital requirements for the interest, equity and credit risk of the trading book or the monetary and commodity risk of the instruments of the banking and trading book of the regulated consolidation unit plus.
(6) The aggregation method plus means that the own funds requirements laid down on an individual basis in accordance with a specific legislation or foreign legislation corresponding to the relevant Directive of the European Communities controlling a person, controlled by a person and jointly managed by an undertaking shall be added together. Compensation for long and short positions of instruments is not possible. The aggregation method plus is not considered a consolidation method. The model of application of the aggregation method plus for the determination of the capital requirements of the regulated consolidation entity and of the solvency on a consolidated basis is set out in Annex 1 to this Decree.
Bank and business portfolio
(1) The controlling entity shall break down all instruments of the regulated consolidation unit recorded in the accounts and, where appropriate, in other demonstrable records in the trading book or in the banking book in accordance with a strategy approved by the statutory authority controlling persons, in compliance with the provisions of paragraphs 2 to 8. The Controller captures all instruments according to international accounting standards and subsequently appreciates them in accordance with Section 10 of this Order.
(2) To be included in the trading book
(a) financial instruments and commodity instruments held for trading purposes and to obtain a profit from price differences and changes in interest rates in the short term, generally within one year, in such a quantity which cannot significantly affect prices in the public market;
(b) outstanding transactions with trading book instruments pursuant to Article 18 (2) and free deliveries pursuant to Article 18 (6).
(3) Financial and commodity instruments not included in the trading book, in particular instruments for which a member of a regulated consolidation entity has the intention and ability to hold them to maturity, shall be included in the banking book. Securities shall be included in the banking book for sale. Credit shall be included in the banking book, except for loans granted or received under reverse repo and repo transactions, securities and commodities lending and lending, provided that such reverse and repo transactions, borrowing and lending are included in the trading book in accordance with paragraph 5. Furthermore, equity certificates, loans and deposits shall be included in the banking book.
(4) All instruments of controlled persons and a jointly managed undertaking may be included in the banking book where the controlled person and the jointly managed undertaking are not required, on an individual basis, to divide their instruments into the banking and trading book and to set capital requirements for them in accordance with the regulation of the relevant Directive of the European Communities. 4) The controlling person must provide proof of such a procedure at the request of the Czech National Bank.
(5) The inclusion of reverse repos and repos, borrowing and lending of securities and commodities in individual portfolios shall be carried out as follows:
(a) repo transactions and securities and commodities lending are included in the trading book where the security or commodity is included in the trading book. A repo is also included in the trading book where a security or commodity has been accepted in reverse repo or borrowing. Other repo transactions and securities and commodities lending are included in the banking book,
(b) reverse repo transactions and borrowing transactions of securities and commodities may be included in the trading book if the conditions set out in points 1, 2 and 4 or points 3 and 4 are met.
1. the value of the securities or commodities transferred is adapted to subsequent changes in the fair values of those instruments;
2. the contract ensures that, in the event of a default of the contract partner, which is understood to mean a contract established by the facts, for example, that the partner fails to pay his obligations at maturity, goes into liquidation or is declared bankrupt or allowed to settle, the claims are settled against the partner's claims on those operations;
3. The contract is concluded with the central bank of the zone State A or with a bank located in a zone A State which has a risk weight of 0,2 according to Table 1 of Annex 2 to this Regulation, or a securities dealer based in zone A State which has a risk weight of 0,2 according to Table 1 of Annex 2 to this Regulation,
4. the contract is not concluded under unusual conditions.
(6) Derivatives that have been agreed for the purpose of hedging (hedging derivatives) instruments included in the banking book only shall be included in the banking book. Other derivatives, including those agreed for the purpose of hedging instruments included in the trading book, are included in the trading book. Credit derivatives considered as guarantees under accounting procedures are included in the banking book.
(7) Movements of instruments from the bank to the trading book and vice versa shall be possible provided that the accounting procedures are complied with and are consistent with the strategy referred to in paragraph 1.
(8) Business between the banking and the trading book (hereinafter referred to as "internal business") may be carried out for the purpose of establishing the capital requirement for general interest rate risk in respect of interest rate and currency swaps, interest rate and currency forwards, with the exception of forwards based on the purchase or sale of bonds and notes. Other internal transactions may be executed if the intention to conduct such transactions has been notified and documented to the Czech National Bank and the Czech National Bank has not rejected the intention within one month of the date of its complete submission or has not informed the Czech National Bank of the extension of the deadline by a maximum of one month. The own funds requirement for the credit risk of the banking book and the own funds requirement for the credit risk of the trading book shall be zero for these swaps and forwards. The positions resulting from these internal transactions shall be used for the calculation of the capital requirement for general interest rate risk. Internal business may be carried out subject to the following conditions:
(a) the transactions are executed to ensure the interest rate risk of the bank's portfolio;
(b) transactions are initiated by a bank portfolio manager;
(c) the documentation relating to such transactions is kept in the same way as it is kept for transactions with external partners;
(d) the transactions are made at normal prices.
Valuation of instruments and positions
(1) The instruments of the trading book are valued daily at fair value.
(2) The instruments of the banking book shall be valued in accordance with international accounting standards, unless they are commodity instruments of the banking book that are valued on a daily basis at fair value, or shares in controlled entities and associated companies, including jointly managed undertakings not included in a regulated consolidation unit, which are valued at equivalent to international accounting standards.
(3) For the purpose of determining the own funds requirement for monetary risk, the instruments of the banking book in foreign currencies may be measured at fair value.
(4) The interest, equity, monetary and commodity positions of the trading book are valued daily at real values.
Conversion of instruments in foreign currencies into crowns
Individual instruments in foreign currencies shall be converted into crowns by exchange rate according to a special law. 5)
EXPOSURE AMOUNT
This is the total amount of subordinated mutual member accounts that meet the criteria for Tier 1.
(1) Tier 1 is the part of own funds derived from a consolidated balance sheet compiled by the controlling entity for a regulated consolidation entity. It represents the sum of items (a) to (g), less deductible items (h) to (m):
(a) paid-up capital entered in the Commercial Register;
(b) paid-up emission premium;
(c) compulsory reserves;
(d) other reserves created from profit after tax, with the exception of reserves earmarked for:
(e) the retained earnings from previous post-tax periods where the profit of the periods concerned has been confirmed by an external auditor in the audit of the accounts, the members or the general meeting of the accounts have approved the accounts and decided on the amount of the profit not distributed; the economic result in the approval procedure, provided that this result agreed by the external auditor represents the profit to which the expected dividends and other payments from the expected profit distribution were reflected,
(f) the interim profit of the current period established in the framework of the interim financial statements, to which the expected dividends and other payments have been reflected, provided that it has been agreed by the external auditor and the Czech National Bank has not refused the intention, supported by the approval of the auditor, to account for that profit as part of Tier 1 within one month of the date of the supporting document or has not informed the Czech National Bank of the extension of the deadline by a maximum of one month;
(g) part of minority equity (credit balance) involving the share of minority interests in:
1. paid-up capital registered in the Commercial Register,
2. paid-up emission premium,
3. mandatory reserves,
4. other reserves created from profit after tax, with the exception of reserves earmarked for:
5. the retained earnings from previous periods after tax, where the profit of the periods concerned has been confirmed by the auditor in the audit of the accounts, the members or the general meeting have approved the annual accounts and decided on the amount of the profit not distributed;
6. the economic result in the approval procedure where this result agreed by the external auditor represents the profit to which the expected dividends and other payments from the expected profit distribution have been reflected;
(h) outstanding losses from previous periods, plus profit or loss in the approval procedure, where that result represents loss;
(i) loss of the current period;
(j) goodwill in accordance with international accounting standards (hereinafter referred to as goodwill);
Contents
ČÁST PRVNÍ
§ 1
§ 2
ČÁST DRUHÁ
§ 3
§ 4
§ 5
§ 6
ČÁST TŘETÍ
HLAVA I
§ 7
§ 8
§ 9
§ 10
§ 11
HLAVA II
§ 12
HLAVA III
§ 13
§ 14
§ 15
§ 16
HLAVA IV
§ 17
§ 18
HLAVA V
§ 19
§ 20
§ 21
§ 22
§ 23
§ 24
HLAVA VI
Díl 1
§ 25
§ 26
§ 27
Díl 2
§ 28
Díl 3
§ 29
§ 30
§ 31
§ 32
§ 33
§ 34
HLAVA VII
§ 35
§ 36
§ 37
§ 38
§ 39
§ 40
HLAVA VIII
§ 41
§ 42
§ 43
§ 44
HLAVA IX
Díl 1
§ 45
§ 46
§ 47
Díl 2
§ 48
§ 49
§ 50
§ 51
§ 52
§ 53
HLAVA X
Díl 1
§ 54
§ 55
§ 56
Díl 2
§ 57
§ 58
§ 59
§ 60
§ 61
HLAVA XI
§ 62
§ 63
§ 64
§ 65
§ 66
§ 67
§ 68
§ 69
HLAVA XII
§ 70
ČÁST ČTVRTÁ
§ 71
§ 72
§ 73
§ 74
§ 75
§ 76
§ 77
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Regulation Information
| Citation | Decree of the Czech National Bank No. 333 / 2002 Coll., laying down rules on prudent business of controlling persons on a consolidated basis |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 22.07.2002 |
|---|---|
| Effective from | 01.08.2002 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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