advanced IRB approach

37one of the following:

1. (a) (in relation to the sovereign, institutional and corporate IRB exposure class) the approach under the IRB approach under which a firm supplies its own estimates of LGD and conversion factors;
2. (b) (where the approach in (a) is being applied on a consolidated basis) the method in (a) as applied on a consolidated basis in accordance with BIPRU 8 (Group risk - consolidation); or
3. (c) when the reference is to the rules of or administered by a regulatory body other than the189 appropriate regulator,189 whatever corresponds to the approach in (a) or (b), as the case may be, under those rules.