Application of general requirements of Chapter 6 of the Regulation (EU) No 575/2013 regarding the definition of own funds

Does the definition of „own funds“ in Article 4(46) of PSD2 refer to the definition of „own funds“ as defined in point 118 of Article 4(1) of Regulation (EU) No 575/2013 only, or are Articles 26 - 88 of Regulation (EU) No 575/2013, in particular Articles 26 (3), 77 and 78 of Regulation (EU) No 575/2013, also refered to by Article 4(46) PSD2?

According to Article 4(46) PSD2 „own funds“ means funds as defined in point 118 of Article 4(1) of Regulation (EU) No 575/2013 where at least 75 % of the Tier 1 capital is in the form of Common Equity Tier 1 capital as referred to in Article 50 of that Regulation and Tier 2 is equal to or less than one third of Tier 1 capital. The PSD2 only refers to the definition in Regulation (EU) No 575/2013. In addition to definitions and requirements for the components of own funds, Part 2 of Regulation (EU) No 575/2013 also contain, among other things, the obligation to notify a reduction in own funds and the requirement for authorisation from the supervisory authorities to reduce own funds (Articles 77, 78 of Regulation (EU) No 575/2013). Article 26(3) of Regulation (EU) No 575/2013 contains the evaluation of the competent authorities whether issuances of Common Equity Tier 1 instruments meet the criteria set out in Article 28 or, where applicable, Article 29 of Regulation (EU) No 575/2013.