BIPRU 12.1 Application

1Subject to BIPRU 12.1.2R, BIPRU 12 applies to:

1. (1)

   a BIPRU firm;

2. (2)

   an incoming EEA firm which:

   1. (a)

      is afull BCD credit institution; and

   2. (b)

      has a branch in the United Kingdom; and

3. (3)

   a third country BIPRU firm which:

   1. (a)

      is a bank; and

   2. (b)

      has a branch in the United Kingdom.

BIPRU 12.5 (Individual Liquidity Adequacy Standards), BIPRU 12.6 (Simplified ILAS), BIPRU 12.7 (Liquid assets buffer) and BIPRU 12.9 (Individual liquidity guidance and regulatory intervention points) apply only to an ILAS BIPRU firm.

1. (1)

   An exempt full scope BIPRU investment firm is a full scope BIPRU investment firm that at all times has total net assets which are less than or equal to £50 million.

2. (2)

   In this rule, total net assets are the sum of a firm's total trading book assets and its total non-trading book assets, less the sum of its called up share capital, reserves and minority interests.

3. (3)

   For the purpose of (2), the value attributed to each of the specified balance sheet items must be that which is reported to the FCA in the firm's most recent FSA001 data item.

In relation to an incoming EEA firm or a third country BIPRU firm, this chapter applies only with respect to the activities of the firm's UK branch.