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diverse block

37(for the purposes of BIPRU 8 (Group risk - consolidation) and BIPRU 10 (Concentration risk requirements)):

  1. (a) (in relation to a firm with a wider integrated group permission that applies on a solo basis) has the meaning in BIPRU 10.9.6 R (Definition of diverse block) which is in summary all undertakings in the wider integrated group designated as a single diverse block by the applicable wider integrated group permission;
  2. (b) (in relation to a firm with a wider integrated group permission that applies on a consolidated basis) has the meaning in BIPRU 8.9.22 R (Wider integrated groups: Definition of diverse block) which is in summary a group of exposures that satisfy specified eligibility conditions and that are to undertakings that are designated by the wider integrated group permission as being associated with the same diverse block.