4
Eligibility and Limits Applicable to Tiers
4.1
As far as compliance with its SCR is concerned at least the following conditions must be met:
- (1) more than one-third of the total amount of the firm’s eligible own funds is accounted for by Tier 1 own funds; and
- (2) less than one-third of the firm’s eligible own funds is accounted for by Tier 3 own funds.
[Note: Art. 98(1) of the Solvency II Directive]
- 01/01/2016
4.2
As far as compliance with its MCR is concerned, as a minimum more than 50% of the firm’s eligible own funds must be accounted for by Tier 1 own funds.
[Note: Art. 98(2) of the Solvency II Directive]
- 01/01/2016