Market making

[The original text of the question refers to provisions on market making that were previously included in Commission delegated regulation 241/2014 (RTS) and that have been deleted from this delegated regulation to be transferred directly into Regulation (EU) No 575/2013 (CRR)]   1. No, the second subparagraph of Article 29(3)(b) 78(1) of Regulation (EU) No 241 575 /201 3 4 does not provide for the possibility to take into account short positions, hence the calculation of the predetermined amount should always be done on the basis of the outstanding amount of the relevant issu e ance . The calculation of the used part of this amount should always be done on the basis of the gross long position, i.e. not taking into account short positions in own AT1 and/or Tier 2 instruments. Article 57(a) CRR is not applicable in this case, as it only refers to Article 56(a) CRR and not to the prior permission to re duce purchase own funds pursuant to Article 77 of the CRR for market making purposes (Article 29(3)(b) of the Commission delegated regulation 241/2014) .   2. No, amended Q&A 2014_1352 states that “The predetermined amount for which the competent authority has given its permission under the second subparagraph of Article 29(3 78(1 ) of Regulation (EU) No 241/2014 575/2013 should be deducted , from corresponding elements of the institution’s own funds, from the moment the authorization is granted, pursuant to Article 28( 3 2 ) of that of Delegated Regulation (EU) No 241/2014 as sufficient certainty about the repurchase is deemed to exist from that moment” . As a consequence, the whole predetermined amount has to be deducted since the permission is granted regardless of the short positions.   For the sake of completeness, the predetermined amount for which the resolution authority, after consulting the competent authority, has given its permission under the second subparagraph of Article 78a(1) of the CRR should be deducted from the institution’s eligible liabilities instruments from the moment the authorisation is granted pursuant to Article 32b(3) of Delegated Regulation (EU) No 241/2014 . Furthermore, the used part of this predetermined amount should be calculated on the basis of the gross long position as described above.