BIPRU TP 27 Application of GENPRU 1.2, BIPRU 12.3 and BIPRU 12.4: all firms to which BIPRU 12 applies
1Application |
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27.1 |
R |
BIPRU TP 27 applies to a firm which as at 1 December 2009 falls into BIPRU 12.1.1 R. |
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Transitional Provisions |
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27.2 |
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(1) |
(2) |
(3) |
(4) |
(5) |
Material to which the transitional provision applies |
Transitional Provision |
Handbook provisions: coming into force |
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1 |
BIPRU 12.3 and BIPRU 12.4 |
R |
References to the overall liquidity adequacy rule contained in the rules and guidance in the sections of the Handbook listed in column (2) are replaced by ones to the overall financial adequacy rule. |
1 December 2009 |
2 |
R |
For the purposes of complying with GENPRU 1.2.26 R as regards the adequacy of liquidity resources, a firm must apply the rules and guidance in BIPRU 12.3 and BIPRU 12.4 instead of applying the ICAAP rules. |
1 December 2009 |
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Duration and application of BIPRU TP 27.2 |
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27.3 |
R |
In relation to each firm falling into BIPRU 12.1.1 R, BIPRU TP 27.2 applies in the way described in BIPRU TP 27.4. |
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27.4 |
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(1) |
(2) |
(3) |
(4) |
Transitional provision: dates in force |
Transitional provision: application |
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1 |
R |
1 December 2009 until 31 May 2010 |
A firm which as at 30 November 2009 calculates its liquidity resources in accordance with Chapter LS of IPRU(BANK). |
2 |
R |
1 December 2009 until 31 May 2010 |
Subject to (3), a firm which as at 30 November 2009 calculates its liquidity resources in accordance with IPRU(BSOC). |
3 |
R |
1 December 2009 until 30 September 2010 |
A firm which as at 30 November 2009 calculates its liquidity resources in accordance with IPRU(BSOC) and which as at 1 June 2010 has a simplified ILAS waiver. |
4 |
R |
1 December 2009 until 30 September 2010 |
A firm which as at 30 November 2009 calculates its liquidity resources in accordance with Chapter LM of IPRU(BANK) and which is not an incoming EEA firm or a third country BIPRU firm. |
5 |
R |
1 December 2009 until 31 October 2010 |
A firm which as at 30 November 2009 calculates its liquidity resources in accordance with Chapter LM of IPRU(BANK) and which is an incoming EEA firm or a third country BIPRU firm. |
6 |
R |
1 December 2009 until 31 October 2010 |
A firm which as at 1 December 2009 is a full scope BIPRU investment firm and which is also an ILAS BIPRU firm. |
7 |
R |
1 December 2009 until 31 October 2010 |
A firm which as at 1 December 2009 is a non-ILAS BIPRU firm. |
Guidance for a firm which becomes an ILAS BIPRU firm or non-ILAS BIPRU firm on 1 December 2009 |
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27.5 |
G |
BIPRU TP 27 applies to a firm which becomes either an ILAS BIPRU firm or a non-ILAS BIPRU firm (as the case may be) on 1 December 2009. A firm which becomes an ILAS BIPRU firm or non-ILAS BIPRU firm after that date and before the end of the transitional period which would otherwise have applied will not therefore have the benefit of those rules and will be expected to comply with the rules and guidance in BIPRU 12 from the date on which it becomes either an ILAS BIPRU firm or a non-ILAS BIPRU firm (as the case may be). |