IFPRU TP 2 Own funds requirements

Application

2.1

R

IFPRU TP 2 applies to an IFPRU investment firm, unless it is an exempt IFPRU commodities firm.

Purpose

2.2

G

IFPRU TP 2 contains the rules that exercise the discretion afforded to the FCA as competent authority under article 465 of the EU CRR. IFPRU TP 2 applies instead of article 92(1)(a) and (b) of the EU CRR (Own funds requirements) for the duration of the transitional.

Duration of transitional

2.3

R

IFPRU TP 2 applies until 31 December 2014.

Common equity tier 1 ratio

2.4

R

The common equity tier 1 capital ratio which a firm must meet or exceed for the period from 1 January 2014 until 31 December 2014 is 4%.

[Note: article 465(1)(a) of the EU CRR]

Tier 1 capital ratio

2.5

R

The tier 1 capital ratio which a firm must meet or exceed for the period from 1 January 2014 until 31 December 2014 is 5.5%.

[Note: article 465(1)(b) of the EU CRR]