Related provisions for GENPRU 2.2.74B

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GENPRU 2.2.6GRP

This table belongs to GENPRU 2.2.5 G

Topic

Location of text

Application and purpose of the rules in this section

GENPRU 2.2.1 R to GENPRU 2.2.4 G

BIPRU firms that only have simple types of capital resources (simple capital issuers)

GENPRU 2.2.7 G

Principles underlying the definition of capital resources

GENPRU 2.2.8 G

Which method of calculating capital resources applies to which type of firm

GENPRU 2.2.17 R to GENPRU 2.2.19 R

Purpose of the limits on the use of different forms of capital

GENPRU 2.2.24 G

Use of higher tier capital in lower tiers

GENPRU 2.2.25 R to GENPRU 2.2.28 R

Calculation of capital resources for insurers

GENPRU 2.2.22 G to GENPRU 2.2.23 G; GENPRU 2 Annex 1

Limits on the use of different forms of capital for insurer (capital resources gearing rules for insurer)

GENPRU 2.2.29 R to GENPRU 2.2.41 R

Calculation of capital resources for banks

GENPRU 2 Annex 2

Calculation of capital resources for building societies

GENPRU 2 Annex 3

Limits on the use of different forms of capital for banks and building societies (certain types of capital resources cannot be used for certain purposes)

GENPRU 2.2.44 R8 to GENPRU 2.2.45 R; GENPRU 2.2.47 R to GENPRU 2.2.48 R

8

Limits on the use of different forms of capital for banks and building societies (capital resources gearing rules)

GENPRU 2.2.29 R to GENPRU 2.2.31 G; GENPRU 2.2.46 R; GENPRU 2.2.49 R

Calculation of capital resources for BIPRU investment firms

GENPRU 2.2.20 G to GENPRU 2.2.21 G; GENPRU 2 Annex 4 to GENPRU 2 Annex 6

Limits on the use of different forms of capital for BIPRU investment firms (certain types of capital resources cannot be used for certain purposes)

GENPRU 2.2.44 R8 to GENPRU 2.2.45 R; GENPRU 2.2.47 R to GENPRU 2.2.48 R

8

Limits on the use of different forms of capital for BIPRU investment firms (capital resources gearing rules)

GENPRU 2.2.29 R to GENPRU 2.2.31 G; GENPRU 2.2.46 R; GENPRU 2.2.50 R

Example of how the capital resources calculation for BIPRU firms works

GENPRU 2.2.51 G to GENPRU 2.2.59 G

Capital used to meet the base capital resources requirement for BIPRU firms

GENPRU 2.2.60 R to GENPRU 2.2.61 G12

12Notification of issuance of capital instruments.

GENPRU 2.2.61A R to GENPRU 2.2.61H G

Tier one capital instruments: general

GENPRU 2.2.9 G to GENPRU 2.2.10 G; GENPRU 2.2.62 R to GENPRU 2.2.69 G; GENPRU 2.2.80 R to GENPRU 2.2.82 G

8Tier one capital: payment of coupons (BIPRU firm only)

GENPRU 2.2.69A R to GENPRU 2.2.69F G

Core tier one capital: permanent share capital

GENPRU 2.2.83 R to 10GENPRU 2.2.84A G10

10General conditions for eligibility of capital instruments as core tier one capital (BIPRU firm only)

GENPRU 2.2.83A R to GENPRU 2.2.83D G; GENPRU 2.2.84A G

10Core tier one capital: exception to eligibility criteria (building societies only)

GENPRU 2.2.83E R to GENPRU 2.2.83H G

Core tier one capital: profit and loss account and other reserves: material applicable to all firms

GENPRU 2.2.85 R; GENPRU 2.2.87 R to GENPRU 2.2.89 G; GENPRU 2.2.91 G

Core tier one capital: profit and loss account and other reserves: material specific to BIPRU firms

GENPRU 2.2.86 R; GENPRU 2.2.90 R; GENPRU 2.2.92 G

Core tier one capital: provisions relating to partnerships and limited liability partnerships

GENPRU 2.2.93 R to GENPRU 2.2.100 R

Core tier one capital: share premium account

GENPRU 2.2.101 R

Core tier one capital: externally verified interim net profits

GENPRU 2.2.102 R to GENPRU 2.2.103 G

Core tier one capital: valuation differences and fund for future appropriations for insurer

GENPRU 2.2.104 R to GENPRU 2.2.108 R

Core tier one capital: deferred shares (building society only)

GENPRU 2.2.108A R to GENPRU 2.2.108B G

Tier one capital: perpetual non-cumulative preference shares (insurer only)8

GENPRU 2.2.109 R to GENPRU 2.2.110 G

Innovative tier one capital (excluding issues through SPVs) (insurer only)8

GENPRU 2.2.76 R; GENPRU 2.2.113 R to GENPRU 2.2.122 G

8Hybrid capital (excluding issues through SPVs) (BIPRU firm only)

GENPRU 2.2.115A R to GENPRU 2.2.119 G

Hybrid capital8 (issues through SPVs) (BIPRU firm only)8

8

GENPRU 2.2.123 R to GENPRU 2.2.137 R

Tier one capital: conversion ratio

GENPRU 2.2.138 R to GENPRU 2.2.144 G

Tier one capital: requirement to have sufficient unissued stock

GENPRU 2.2.145 R

Deductions from tier one capital resources

GENPRU 2.2.155 R to GENPRU 2.2.156 G

Tier two capital

GENPRU 2.2.11 G; GENPRU 2.2.157 G to GENPRU 2.2.197 G

Deductions from tier one capital resources and tier two capital resources

GENPRU 2.2.202 R to GENPRU 2.2.240 G

Tier three capital

GENPRU 2.2.12 G; GENPRU 2.2.241 R to GENPRU 2.2.249 R

Deductions from total capital resources

GENPRU 2.2.14 G to GENPRU 2.2.16 G; GENPRU 2.2.250 R to GENPRU 2.2.265 R

The effect of swaps

GENPRU 2.2.198 R to GENPRU 2.2.201 R

Step-ups (Tier one capital and tier two capital)

GENPRU 2.2.76 R; GENPRU 2.2.146 R to GENPRU 2.2.154 G

Redemption of tier one instruments

GENPRU 2.2.64R (3); GENPRU 2.2.70 R to GENPRU 2.2.79 G

8Purchases of tier one instruments: BIPRU firm only

GENPRU 2.2.79A R to GENPRU 2.2.79H G; GENPRU 2.2.79L G10

Redemption of tier two instruments

GENPRU 2.2.172 R to GENPRU 2.2.174 R; GENPRU 2.2.177 R to GENPRU 2.2.178 R (upper tier two instruments); GENPRU 2.2.194 R to GENPRU 2.2.197 G (lower tier two instruments)

Non-standard capital instruments

GENPRU 2.2.13 G

Standard form documentation for subordinated debt

GENPRU 2.2.164 G

Public sector guarantees

GENPRU 2.2.276 R

Other capital resources for insurers: unpaid share capital or unpaid initial funds and calls for supplementary contributions

GENPRU 2.2.266 G to GENPRU 2.2.269 G

Additional requirements for insurer carrying on with-profits insurance business

GENPRU 2.2.270 R to GENPRU 2.2.275 G
GENPRU 2.2.74RRP
A firm must not redeem any tier one instrument that it has included in its tier one capital resources unless it has notified the FSA of its intention at least one month before it becomes committed to do so. When giving notice, the firm must provide details of its position after such redemption in order to show how it will:77(1) meet its capital resources requirement;78(2) 7have sufficient financial resources to meet the overall financial adequacy rule; and8(3) 8in the case of
GENPRU 2.2.83RRP
Permanent share capital means an item of capital which (in addition to satisfying GENPRU 2.2.64 R) meets the following conditions:(1) it is:(a) an ordinary share; or(b) a members' contribution; or(c) part of the initial fund of a mutual; or8(d) a deferred share;8(2) any coupon on it is not cumulative, the firm is under no obligation to pay a coupon in any circumstances and the firm has the right to choose the amount of any coupon that it pays;10(3) the terms upon which it is issued
GENPRU 2.2.95RRP
A BIPRU firm that is a partnership or a limited liability partnership may not include eligible partnership capital or eligible LLP members' capital in its tier one capital resources unless (in addition to GENPRU 2.2.62 R (General conditions relating to tier one capital)) it complies with GENPRU 2.2.83R (2) (10Coupons should not be cumulative or mandatory) and GENPRU 2.2.83A R to GENPRU 2.2.83C R (General conditions for eligibility of capital instruments as core tier one capital