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  1. Point in time
    2008-12-06

BIPRU TP 13 Other operational risk transitionals

1Application

13.1

R

BIPRU TP 13 applies to a BIPRU firm.

Purpose

13.2

G

BIPRU TP 13 implements Articles 155 of the Banking Consolidation Directive and Article 44 of the Capital Adequacy Directive.

Relevant indicator

13.3

R

Until 31 December 2012, a percentage of 15% applies to the business line "Trading and Sales" of a firm whose relevant indicator (as referred to in BIPRU 6.4.6 R) for the business line "Trading and Sales" represents at least 50% of the total of the relevant indicators for all of the firm's business lines in accordance with BIPRU 6.4.6 R to BIPRU 6.4.16 G (Calculating the ORCR under the standardised approach to operational risk).

Reduced operational risk charge in 2007

13.4

G

BIPRU TP 3.21R (Reduced ORCR for a firm applying pre-CRD capital requirements in 2007) also contains a transitional rule about operational risk.

Systems and controls in 2007

13.5

R

A reference in BIPRU 6 (Operational risk) to SYSC 4 to SYSC 10 (referred to in this rule as the "common platform requirements") or a part of those requirements must be read as being to the corresponding provisions of SYSC 3. This rule ceases to have effect on 1 November 2007 or on any earlier date on which the firm elects to comply with the common platform requirements in accordance with SYSC.