An Authorised Person must determine the amount of minority interests of a Subsidiary that is eligible for inclusion in its consolidated CET1 Capital by subtracting from the minority interests of that Subsidiary the result of multiplying the amount referred to in (a) by the percentage referred to in (b):
(a) the CET1 Capital of the Subsidiary minus the lesser of the following:
(i) the amount of CET1 Capital of that Subsidiary required to meet the sum of the Subsidiary's CET1 Capital requirement (on a solo basis) of 6.0% of its Total Risk Exposure Amount, calculated in accordance with Rule 3.5.7
, and its Combined Buffer Requirement; or
(ii) the amount of consolidated CET1 Capital that relates to that Subsidiary that is required on a consolidated basis to meet the sum of its Financial Group's CET1 Capital requirement of 6.0% of its Total Risk Exposure Amount, calculated in accordance with Rule 3.5.7
, and its Combined Buffer Requirement;
(b) the minority interests of the Subsidiary expressed as a percentage of all CET1 Capital instruments of that Undertaking plus the related retained earnings and Share premium accounts.