These disclosures are made in accordance with the rules of the Directive 2013/36/EU (Capital Requirements Directive (CRD IV)) and the Regulation No 575/2013 (Capital Requirements Regulation (CRR)) of the European Parliament and of the Council of 26 June 2013 relating to minimum capital requirements (known as “Pillar 3” requirements in the Basel II and the new Basel 3 Accord and its European transposition by the CRR). It is this application of the CRD IV and CRR that requires Talbot Capital Limited to make these disclosures.
The new CRR framework now consists of three ‘Pillars’:
Minimum capital requirements
Internal Capital Adequacy Assessment Process: the need to assess whether the capital held under Pillar 1 is sufficient to meet the additional risks not covered by Pillar 1
Disclosure requirements allowing market participants to assess information on a firms’ risks, capital and risk management procedures
The Financial Conduct Authority outlines the minimum disclosure requirements. The information below satisfies Talbot Capital Limited Pillar 3 requirement.