IFPRU TP 4 Deductions from own funds

Application

4.1

R

IFPRU TP 4 applies to an IFPRU investment firm, unless it is an exempt IFPRU commodities firm.

Purpose

4.2

G

IFPRU TP 4 contains the rules that exercise the discretion afforded to the FCA as competent authority under articles 469 of the UK CRR1. The applicable percentages in IFPRU TP 4 apply instead of articles Deductions from own funds [deleted]36(1) of the UK CRR1 for the duration of the transitional.

Duration of transitional

4.3

R

IFPRU TP 4 applies until 31 December 2023.

Deduction from common equity tier 1

4.4

R

[expired]1

4.5

R

[expired]1

4.6

R

For the purposes of article 469(1)(c) of the EU CRR, as it applies to the items in point (c) of article 36(1)) of the UK CRR1 (Deductions from Common Equity Tier 1 items) that existed prior to 1 January 2014, the applicable percentages are:

(1)

0% for the period from 1 January 2014 to 31 December 2014;

(2)

10% for the period from 1 January 2015 to 31 December 2015;

(3)

20% for the period from 1 January 2016 to 31 December 2016;

(4)

30% for the period from 1 January 2017 to 31 December 2017;

(5)

40% for the period from 1 January 2018 to 31 December 2018;

(6)

50% for the period from 1 January 2019 to 31 December 2019;

(7)

60% for the period from 1 January 2020 to 31 December 2020;

(8)

70% for the period from 1 January 2021 to 31 December 2021;

(9)

80% for the period from 1 January 2022 to 31 December 2022; and

(10)

90% for the period from 1 January 2023 to 31 December 2023.

4.7

R

[expired]1

4.8

R

[expired]1

4.9

R

[expired]1