(1) In this Regulation -
"initial period" means the period from the commencement of these Regulations to 31 December 2024;
"target level" means the level required under paragraph (2).
(2) The resolution authority shall ensure that during the initial period, the available financial means of the Fund reaches at least 1% of the amount of covered deposits of all institutions authorised in the State.
(3) The available financial means of the Fund shall consist of the following:
(a) contributions raised from institutions in accordance with Regulations 166 and 167;
(b) irrevocable payment commitments pledged in accordance with Regulation 166(5);
(c) amounts received from an institution under resolution, bridge institution, asset management vehicle or purchaser, or any other interest or earnings on investments;
(d) amounts owed to the Fund by the resolution financing arrangements of other Member States in respect of loans provided under Regulation 171(2).
(4) During the initial period, contribu
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