qualifying capital item
- (a) it is freely available to the firm to cover normal banking or other risks where revenue or capital losses have not yet been identified;
- (b) its existence is disclosed in internal accounting records; and
9(in UPRU and IPRU(INV)20) means that part of a firm's capital which has the following characteristics:
Note: verification by internal auditors will suffice until such time as EU provisions making external auditing mandatory have been implemented.