Related provisions for BIPRU 2.2.38

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MCOB 11.6.26RRP
When assessing for the purposes of MCOB 11.6.2 R whether a customer will be able to pay the sums due, a firm: (1) must not base its assessment of affordability on the equity in the property which is used as security under the regulated mortgage contract, or take account of an expected increase in property prices;(2) must:(a) where the repayments will be made from the resources of the customer:(i) take full account of the income, net of income tax and national insurance, or net
MCOB 11.6.28RRP
In taking account (in accordance with MCOB 11.6.26R (2)) of the customer's income or net assets (or both) and the resources of the business for the purposes of its assessment of whether the customer will be able to pay the sums due: (1) a firm must obtain evidence of the income or net assets (or both) of the customer and the resources of the business, as declared by the customer for the purpose of the customer's application for the regulated mortgage contract (or variation); and
MCOB 11.6.30GRP
The information which a firm should consider when taking account, for the purposes of MCOB 11.6.26R (2)(b), of the strength of the financial resources of the business will vary according to the characteristics of the business, but may include factors such as the cash flow, assets and liabilities of the business.
MCOB 11.6.31RRP
If a firm is, or should reasonably be aware from information obtained during the application process, that there will, or are likely to, be future changes to the income and expenditure of the customer, or the resources of the business, during the term of the regulated mortgage contract, the firm must take them into account when assessing whether the customer will be able to pay the sums due for the purposes of MCOB 11.6.2 R.
MCOB 11.6.32RRP
Where a firm chooses, in accordance with MCOB 11.6.25 R, to apply the provisions of MCOB 11.6.26 R to MCOB 11.6.31 R in place of MCOB 11.6.5 R to MCOB 11.6.19 G: (1) its policy in MCOB 11.6.20R (1) need not address each of the matters prescribed in sub-paragraphs (a) to (e) of that rule;(2) MCOB 11.6.23 G does not apply; and (3) in each case the record-keeping requirements in MCOB 11.6.60R (2)(a) to (d) apply only to the extent relevant, but the record in MCOB 11.6.60R (1) must
SYSC 19D.3.19RRP
A firm must ensure that total variable remuneration does not limit the firm's ability to strengthen its capital base.[Note: article 94(1)(c) of the CRD and Standard 3 of the FSB Compensation Standards]
SYSC 19D.3.21RRP
A firm that benefits from exceptional government intervention must ensure that:(1) variable remuneration is strictly limited as a percentage of net revenues when it is inconsistent with the maintenance of a sound capital base and timely exit from government support;(2) it restructures remuneration in a manner aligned with sound risk management and long-term growth, including (when appropriate) establishing limits to the remuneration of members of its management body; and(2) no
SYSC 19D.3.23RRP
(1) A firm must ensure that any measurement of performance used to calculate variable remuneration components or pools of variable remuneration components: (a) includes adjustments for all types of current and future risks and takes into account the cost and quantity of the capital and the liquidity required; and (b) takes into account the need for consistency with the timing and likelihood of the firm receiving potential future revenues incorporated into current earnings. (2)
SYSC 19D.3.44RRP
(1) A firm must ensure that guaranteed variable remuneration is not part of prospective remuneration plans.(2) A firm must not award, pay or provide guaranteed variable remuneration unless:(a) it is exceptional;(b) it occurs in the context of hiring new dual-regulated firms Remuneration Code staff;(c) the firm has a sound and strong capital base; and(d) it is limited to the first year of service.[Note: article 94(1)(d) and (e) of the CRD and Standard 11 of the FSB Compensation
SYSC 19D.3.56RRP
(1) A firm must ensure that a substantial portion, which is at least 50%, of any variable remuneration consists of an appropriate balance of:(a) shares or equivalent ownership interests, subject to the legal structure of the firm concerned, or share-linked instruments or equivalent non-cash instruments in the case of a non-listed firm; and(b) where possible, other instruments that in each case adequately reflect the credit quality of the firm as a going concern and are appropriate
SYSC 19D.3.60GRP
(1) Deferred remuneration paid in:(a) shares or share-linked instruments should be made under a scheme which meets appropriate criteria, including risk adjustment of the performance measure used to determine the initial allocation of shares;(b) cash should also be subject to performance criteria.(2) The FCA would generally expect a firm to have a firm-wide policy (and group-wide policy, where appropriate) on deferral. The proportion deferred should generally rise with the ratio
SUP 16.12.16RRP

The applicable reporting frequencies for data items referred to in SUP 16.12.15 R2 are set out in the table below according to firm type. Reporting frequencies are calculated from a firm'saccounting reference date, unless indicated otherwise.

45Data item

Firms' prudential category

IFPRU 730K firm

IFPRU 125K firm and collective portfolio management investment firm

IFPRU 50K firm

BIPRU firm

UK consolidation group or defined liquidity group

Firmother than BIPRU firms or IFPRU investment firms

COREP/FINREP

Refer to EU CRR and applicable technical standards

Refer to EU CRR and applicable technical standards

Solvency statement

Annually

Annually

Annually

Annually

Annually

FSA001

Quarterly

Quarterly

Half yearly

Half yearly

Half yearly

FSA002

Quarterly

Quarterly

Half yearly

Half yearly

Half yearly

FSA003

Half yearly

Half yearly

FSA004

Half yearly

Half yearly

FSA005

Half yearly

Half yearly

FSA006

Quarterly

Quarterly

Quarterly

Quarterly

Quarterly

FSA007

Annual (note 4)

Annual (note 4)

FSA016

Half yearly

Half yearly

Half yearly

Half yearly

FSA018

Quarterly

Quarterly

Quarterly

FSA019

Annually

Annually

Annually

Annually

Annually

FSA028

Half yearly

FSA029

Quarterly

FSA030

Quarterly

FSA031

Quarterly

FSA032

Quarterly

FSA033

Quarterly

FSA034

Quarterly

FSA035

Quarterly38

FSA038

Half yearly

Half yearly

Half yearly

Half yearly

Half yearly

FSA039

Half yearly

Half yearly

Half yearly

Half yearly

Half yearly

FSA042

Quarterly

Quarterly

FSA045

Quarterly

Quarterly

Half yearly

Half yearly

Half yearly

FSA046

Quarterly

Quarterly

FSA047

Daily, weekly, monthly or quarterly (Notes 5, 6 and 8)

Daily, weekly, monthly or quarterly (Notes 5, 7 and 8)

FSA048

Daily, weekly, monthly or quarterly (Notes 5, 6 and 8)

Daily, weekly, monthly or quarterly (Notes 5, 7 and 8)

FSA050

Monthly (Note 5)

Monthly (Note 5)

FSA051

Monthly (Note 5)

Monthly (Note 5)

FSA052

Weekly or monthly (Notes 5 and 9)

Weekly or monthly (Notes 5 and 10)

FSA053

Quarterly (Note 5)

Quarterly (Note 5)

FSA054

Quarterly (Note 5)

Quarterly (Note 5)

FSA055

Annually (Note 5)

Annually (Note 5)

Annually (Note 5)

FSA058

Quarterly

Quarterly

FIN066

Quarterly

FIN067

Quarterly (Note 5)

FIN068

Half yearly

48FIN069

48Quarterly

48FIN070

48Quarterly

Section A RMAR

Half yearly (note 2) Quarterly (note 3)

Section B RMAR

Half yearly (note 2) Quarterly (note 3)

Section C RMAR

Half yearly (note 2) Quarterly (note 3)

Sections D1 and D250 RMAR

50

Half yearly (note 2) Quarterly (note 3)

Section F RMAR

Half yearly

Note 1

[deleted]

Note 2

Annual regulated business revenue up to and including £5 million.

Note 3

Annual regulated business revenue over £5 million.

Note 4

The reporting date for this data item is six months after a firm's most recent accounting reference date.

Note 5

Reporting frequencies and reporting periods for this data item are calculated on a calendar year basis and not from a firm'saccounting reference date. In particular:

(1) A week means the period beginning on Saturday and ending on Friday.

(2) A month begins on the first day of the calendar month and ends on the last day of that month.

(3) Quarters end on 31 March, 30 June, 30 September and 31 December.

(4) Daily means each business day.

All periods are calculated by reference to London time.

Any changes to reporting requirements caused by a firm receiving an intra-group liquidity modification (or a variation to one) do not take effect until the first day of the next reporting period applicable under the changed reporting requirements if the firm receives that intra-group liquidity modification or variation part of the way through such a period, unless the intra-group liquidity modification says otherwise.

Note 6

If the report is on a solo basis the reporting frequency is as follows:

(1) if the firm does not have an intra-group liquidity modification the frequency is:

(a) weekly if the firm is a standard frequency liquidity reporting firm; and

(b) monthly if the firm is a low frequency liquidity reporting firm;

(2) if the firm is a group liquidity reporting firm in a non-UK DLG by modification (firm level) the frequency is:

(a) weekly if the firm is a standard frequency liquidity reporting firm; and

(b) monthly if the firm is a low frequency liquidity reporting firm;

(3) the frequency is quarterly if the firm is a group liquidity reporting firm in a UK DLG by modification.

Note 7

(1) If the report is by reference to the firm'sDLG by default the reporting frequency is:

(a) weekly if the group liquidity standard frequency reporting conditions are met;

(b) monthly if the group liquidity low frequency reporting conditions are met.

(2) If the report is by reference to the firm'sUK DLG by modification the reporting frequency is:

(a) weekly if the group liquidity standard frequency reporting conditions are met;

(b) monthly if the group liquidity low frequency reporting conditions are met.

(3) If the report is by reference to the firm'snon-UK DLG by modification the reporting frequency is quarterly.

Note 8

(1) If the reporting frequency is otherwise weekly, the item is to be reported on every business day if (and for as long as) there is a firm-specific liquidity stress or market liquidity stress in relation to the firm or group in question.

(2) If the reporting frequency is otherwise monthly, the item is to be reported weekly if (and for as long as) there is a firm-specific liquidity stress or market liquidity stress in relation to the firm or group in question.

(3) A firm must ensure that it would be able at all times to meet the requirements for daily or weekly reporting under paragraph (1) or (2) even if there is no firm-specific liquidity stress or market liquidity stress and none is expected.

Note 9

If the report is on a solo basis the reporting frequency is as follows:

(1) weekly if the firm is a standard frequency liquidity reporting firm; and

(2) monthly if the firm is a low frequency liquidity reporting firm.

Note 10

If the report is by reference to the firm'sUK DLG by modification the reporting frequency is:

(1) weekly if the group liquidity standard frequency reporting conditions are met;

(2) monthly if the group liquidity low frequency reporting conditions are met.
SUP 16.12.20RRP

2The applicable reporting frequencies for submission of data items referred to in SUP 16.12.4 R are set out in the table below. Reporting frequencies are calculated from a firm'saccounting reference date, unless indicated otherwise.

Solvency statement

Annually

FSA029

Quarterly

8

FSA030

Quarterly

8

FSA031

Quarterly

FSA032

Quarterly

FSA033

Quarterly

8

FSA034

Quarterly

8

FSA035

Quarterly

843

FSA039

Half yearly11

5Section A RMAR

Half yearly (note 2)

Quarterly (note 3)

5Section B RMAR

Half yearly (note 2)

Quarterly (note 3)

5Section C RMAR

Half yearly (note 2)

Quarterly (note 3)

Sections D1 and D250RMAR

5050

Half yearly (note 2)

Quarterly (note 3)

5Section F RMAR

Half yearly

Note 1

[deleted]8

8

5Note 2

Annual regulated business revenue up to and including £5 million.

5Note 3

5Annual regulated business revenue over £5 million.
SUP 16.12.23ARRP

The applicable reporting frequencies for data items referred to in SUP 16.12.22A R are set out in the table below. Reporting frequencies are calculated from a firm'saccounting reference date, unless indicated otherwise.45

45Data item

Frequency

Unconsolidated BIPRU investment firm and IFPRU investment firm

Solo consolidated BIPRU investment firm andIFPRU investment firm

UK Consolidation Group or defined liquidity group

Annual regulated business revenue up to and including £5 million

Annual regulated business revenue over £5 million

COREP/FINREP

Refer to EU CRR and applicable technical standards

Solvency statement

Annually

FSA001

Quarterly or half yearly (Note 1)

Quarterly or half yearly (Note 1)

Half yearly

FSA002

Quarterly or half yearly (Note 1)

Quarterly or half yearly (Note 1)

Half yearly

FSA003

Monthly, quarterly or half yearly (Notes 2 and 11)

Monthly, quarterly or half yearly (Notes 2 and 11)

Half yearly

FSA004

Quarterly or half yearly (Notes 1 and 11)

Quarterly or half yearly (Notes 1 and 11)

Half yearly

FSA005

Quarterly or half yearly (Notes 1 and 11)

Quarterly or half yearly (Notes 1 and 11)

Half yearly

FSA006

Quarterly

Quarterly

Quarterly

FSA007

Annually

FSA016

Half yearly

FSA018

Quarterly

Quarterly

Quarterly

FSA019

Annually

Annually

Annually

FSA028

Half yearly (Note 11)

Half yearly (Note 11)

FSA032

Quarterly

Quarterly

FSA045

Quarterly or half yearly (Note 1)

Quarterly or half yearly (Note 1)

Half yearly

FSA046

Quarterly

Quarterly

Quarterly

FSA047

Daily, weekly, monthly or quarterly (Notes 4, 5 and 7)

Daily, weekly, monthly or quarterly (Notes 4, 5, 7 and 10)

Daily, weekly, monthly or quarterly (Notes 4, 6 and 7)

FSA048

Daily, weekly, monthly or quarterly (Notes 4, 5 and 7)

Daily, weekly, monthly or quarterly (Notes 4, 5, 7 and 10)

Daily, weekly, monthly or quarterly (Notes 4, 6 and 7)

FSA050

Monthly (Note 4)

Monthly (Notes 4 and 10)

Monthly (Note 4)

FSA051

Monthly (Note 4)

Monthly (Notes 4 and 10)

Monthly (Note 4)

FSA052

Weekly or monthly (Notes 4 and 8)

Weekly or monthly (Notes 4, 8 and 10)

Weekly or monthly (Notes 4 and 9)

FSA053

Quarterly (Note 4)

Quarterly (Notes 4 and 10)

Quarterly (Note 4)

FSA054

Quarterly (Note 4)

Quarterly (Notes 4 and 10)

Quarterly (Note 4)

FSA055

Annually (Note 4)

Annually (Notes 4 and 10)

Annually (Note 4)

FSA058

Quarterly (Note 11)

Quarterly (Note 11)

Quarterly

FIN067

Quarterly (Note 4)

Quarterly (Note 4)

FIN068

Half yearly

Half yearly

Section A RMAR

Half yearly

Quarterly

Section B RMAR

Half yearly

Quarterly

Section C RMAR

Half yearly

Quarterly

Sections D1 and D2 RMAR50

50

Half yearly

Quarterly

Section E RMAR

Half yearly

Half yearly

Half yearly

Half yearly

Quarterly

Section F RMAR

Half yearly

Half yearly

Half yearly

Half yearly

Half yearly

Section G RMAR

Half yearly

Half yearly

Half yearly

Half yearly

Half yearly

Section H RMAR

Half yearly

Half yearly

Half yearly

Half yearly

Half yearly

Section J RMAR

Annually

Annually

Annually

Annually

Annually

Section K RMAR

Annually54

54

Annually54

54

Annually54

54

Annually54

54

Annually54

54

Note 1

IFPRU 730K firms and IFPRU 125K firms - quarterly;

IFPRU 50K firms and BIPRU firms - half yearly.

Note 2

IFPRU 730K firms - monthly;

IFPRU 125K firms - quarterly

IFPRU 50K firms and BIPRU firms - half yearly.

Note 3

The reporting date for this data item is six months after a firm's most recent accounting reference date.

Note 4

Reporting frequencies and reporting periods for this data item are calculated on a calendar year basis and not from a firm'saccounting reference date. In particular:

(1) a week means the period beginning on Saturday and ending on Friday;

(2) a month begins on the first day of the calendar month and ends on the last day of that month;

(3) quarters end on 31 March, 30 June, 30 September and 31 December;

(4) daily means each business day.

All periods are calculated by reference to London time.

Any changes to reporting requirements caused by a firm receiving an intra-group liquidity modification (or a variation to one) do not take effect until the first day of the next reporting period applicable under the changed reporting requirements if the firm receives that intra-group liquidity modification or variation part of the way through such a period, unless the intra-group liquidity modification says otherwise.

Note 5

If the report is on a solo basis the reporting frequency is as follows:

(1) if the firm does not have an intra-group liquidity modification the frequency is:

(a) weekly if the firm is a standard frequency liquidity reporting firm; and

(b) monthly if the firm is a low frequency liquidity reporting firm;

(2) if the firm is a group liquidity reporting firm in a non-UK DLG by modification (firm level) the frequency is:

(a) weekly if the firm is a standard frequency liquidity reporting firm; and

(b) monthly if the firm is a low frequency liquidity reporting firm;

(3) the frequency is quarterly if the firm is a group liquidity reporting firm in a UK DLG by modification.

Note 6

(1) If the report is by reference to the firm'sDLG by default the reporting frequency is:

(a) weekly if the group liquidity standard frequency reporting conditions are met;

(b) monthly if the group liquidity low frequency reporting conditions are met.

(2) If the report is by reference to the firm'sUK DLG by modification the reporting frequency is:

(a) weekly if the group liquidity standard frequency reporting conditions are met;

(b) monthly if the group liquidity low frequency reporting conditions are met.

(3) If the report is by reference to the firm'snon-UK DLG by modification the reporting frequency is quarterly.

Note 7

(1) If the reporting frequency is otherwise weekly, the item is to be reported on every business day if (and for as long as) there is a firm-specific liquidity stress or market liquidity stress in relation to the firm or group in question.

(2) If the reporting frequency is otherwise monthly, the item is to be reported weekly if (and for as long as) there is a firm-specific liquidity stress or market liquidity stress in relation to the firm or group in question.

(3) A firm must ensure that it would be able at all times to meet the requirements for daily or weekly reporting under (1) or (2) even if there is no firm-specific liquidity stress or market liquidity stress and none is expected.

Note 8

If the report is on a solo basis the reporting frequency is as follows:

(1) weekly if the firm is a standard frequency liquidity reporting firm; and

(2) monthly if the firm is a low frequency liquidity reporting firm.

Note 9

If the report is by reference to the firm'sUK DLG by modification the reporting frequency is:

(1) weekly if the group liquidity standard frequency reporting conditions are met;

(2) monthly if the group liquidity low frequency reporting conditions are met.

Note 10

As specified in SUP 16.12.22A R, solo consolidation has no application to liquidity reporting. Therefore, it does not make any difference to the reporting of this item whether or not the firm is solo consolidated.

Note 11

Only applicable to firms that are not required to report a data item with a similar name and purpose under the EU CRR and applicable technical standards.
SUP 16.12.25ARRP

2The applicable data items referred to in SUP 16.12.4 R are set out according to type of firm in the table below:

45Description of data item

Firms' prudential category and applicable data item(note 1)

IFPRU investment firms and BIPRU firms

Firmsother thanBIPRU firms or IFPRU investment firms

IFPRU

BIPRU

IPRU(INV)Chapter 3

IPRU(INV)Chapter 5

IPRU(INV)Chapter 9

IPRU(INV)Chapter 13

 38

Solvency statement (note 11)

No standard format

 38

Balance sheet

FSA001/FINREP (Notes 2 and 30)

FSA001 (Note 2)

FSA029

FSA029

FSA029

Section A RMAR (note 17) or FSA029

Income statement

FSA002/FINREP (Notes 2 and 30)

FSA002 (Note 2)

FSA030

FSA030

FSA030

Section B RMAR (note 17) or FSA030

Capital adequacy

COREP (Note 30)

FSA003 (Note 2)

FSA033

FSA034 or FSA035 (note 14)

FSA031

Sections D1 and D250 RMAR (note 17) or FSA 032 (note 15)

 38

Credit risk

COREP (Note 30

FSA004 (Notes 2, 3)

Market risk

COREP (Note 30)

FSA005 (Notes 2, 4)

Market risk - supplementary

FSA006 (note 5)

FSA006 (Note 5)

Operational risk

COREP (Note 30)

Large exposures

COREP (Note 30)

UK Integrated group large exposures

FSA018 (note 12)

Exposures between core UK group and non-core large exposures group

FSA016 (note 20)

Solo consolidation data

FSA016 (note 20)

Pillar 2 questionnaire

FSA019 (note 8)

FSA019 (Note 8)

Non-EEA sub-group

COREP (Note 30)

FSA028 (Note 9)

Threshold conditions

Section F RMAR (note 17)

Client money and client assets

FSA039

FSA039

FSA039

FSA039

FSA039

Section C RMAR (Note 13) or FSA039

 38

IRB portfolio risk

FSA045 (note 18)

FSA045 (Note 18)

Securitisation: non-trading book

COREP (Note 30)

FSA046 (Note 19)

Daily Flows

FSA047/COREP (Notes 21, 24, 26, 28 and 30)

Enhanced Mismatch Report

FSA048/COREP (Notes 21, 24, 26, 28 and 30)

Liquidity Buffer Qualifying Securities

FSA050/COREP (Notes 22, 25, 26, 28 and 30)

Funding Concentration

FSA051/COREP (Notes 22, 25, 26, 28 and 30)

Pricing data

FSA052/COREP (Notes 22, 26, 28, 29 and 30)

Retail and corporate funding

FSA053/COREP (Notes 22, 25, 26, 28 and 30)

Currency Analysis

FSA054/COREP (Notes 22, 25, 26, 28 and 30)

Systems and Controls Questionnaire

FSA055/COREP (Notes 23, 28 and 30)

FSA055 (notes 23 and 28)45

Securitisation: trading book

COREP (Note 30)

FSA058 (Note 27)

Note 1:

When submitting the completed data item required, a firm must use the format of the data item set out in SUP 16 Annex 24 R. Guidance notes for completion of the data items are contained in SUP 16 Annex 25 G.

Note 2

Firms that are members of a UK consolidation group are also required to submit this report on a UK consolidation group basis.

Note 3

This applies to a firm that is required to submit data item FSA003 and, at any time within the 12 months up to its latest accounting reference date ("the relevant period"), was reporting data item FSA004 ("Firm A") or not reporting this item ("Firm B").

In the case of Firm A it must report this data item if one or both of its last two submissions in the relevant period show that the threshold was exceeded.

In the case of Firm B it must report this item if both the last two submissions in the relevant period show that the threshold has been exceeded.

The threshold is exceeded where data element 77A in data item FSA003 is greater than £10 million, or its currency equivalent, at the relevant reporting date for the firm.

Note 4

This applies to a firm that is required to submit data item FSA003 and, at any time within the 12 months up to its latest accounting reference date ("the relevant period"), was reporting data item FSA005 ("Firm A") or not reporting this item ("Firm B").

In the case of Firm A it must report this data item if one or both of its last two submissions in the relevant period show that the threshold was exceeded.

In the case of Firm B it must report this item if both the last two submissions in the relevant period show that the threshold has been exceeded.

The threshold is exceeded where data element 93A in data item FSA003 is greater than £50 million, or its currency equivalent, at the relevant reporting date for the firm.

Note 5

Only applicable to firms with a VaR model permission.

Note 6

[deleted]

Note 7

[deleted]

Note 8

Only applicable to IFPRU investment firms and BIPRU firms that:

(a) are subject to consolidated supervision under BIPRU 8, except those that are either included within the consolidated supervision of a group that includes a UK credit institution, or that have been granted an investment firm consolidation waiver; or

(b) have been granted an investment firm consolidation waiver; or

(c) are not subject to consolidated supervision under BIPRU 8.

An IFPRU investment firm and BIPRU firm under (a) must complete the report on the basis of its UK consolidation group. An IFPRU investment firm and BIPRU firm under (b) or (c) must complete the report on the basis of its solo position.

Note 9

This will be applicable to firms that are members of a UK consolidation group on the reporting date.

Note 10

[deleted]55

55

Note 11

Only applicable to a firm that is a sole trader or a partnership, when the report must be submitted by each partner.

Note 12

Only applicable to a firm that has both a core UK group and a non-core large exposures group.

Note 13

FSA039 must only be completed by a firm subject to IPRU(INV) Chapter 13 which is an exempt CAD firm. Section C RMAR must only be completed by a firm subject to IPRU(INV) Chapter 13 which is not an exempt CAD firm.

Note 14

FSA034 must be completed by a firm not subject to the exemption in IPRU(INV) 5.2.3(2)R.

FSA035 must be completed by a firm subject to the exemption in

IPRU(INV) 5.2.3(2) R.

Note 15

FSA032 must be completed by a firm subject to IPRU(INV) Chapter 13 which is an exempt CAD firm.

Note 16

[deleted]

Note 17

This is only applicable to a firm subject to IPRU(INV) Chapter 13 that is not an exempt CAD firm.

Note 18

Only applicable to firms that have an IRB permission.

Note 19

Only applicable to firms that hold securitisation positions, or are the originator or sponsor of securitisations of non-trading bookexposures.

Note 20

Only applicable to a firm that has a solo consolidation waiver.

Note 21

A firm must complete this item separately on each of the following bases (if applicable).

(1) It must complete it on a solo basis. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone.

(2) If it a group liquidity reporting firm in a DLG by default and is a UK lead regulated firm, it must complete the item on the basis of that group.

(3) If it is a group liquidity reporting firm in a UK DLG by modification, it must complete the item on the basis of that group.

(4) If it is a group liquidity reporting firm in a non-UK DLG by modification, it must complete the item on the basis of that group.

Note 22

A firm must complete this item separately on each of the following bases that are applicable.

(1) It must complete it on a solo basis unless it is a group liquidity reporting firm in a UK DLG by modification. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone.

(2) If it is a group liquidity reporting firm in a UK DLG by modification, it must complete the item on the basis of that group.

Note 23

If it is a non-ILAS BIPRU firm, it must complete it on a solo basis. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone.

Note 24

(1) This item must be reported in the reporting currency.

(2) If any data element is in a currency or currencies other than the reporting currency, all currencies (including the reporting currency) must be combined into a figure in the reporting currency.

(3) In addition, all material currencies (which may include the reporting currency) must each be recorded separately (translated into the reporting currency). However if:

(a) the reporting frequency is (whether under a rule or under a waiver) quarterly or less than quarterly; or

(b) the only material currency is the reporting currency;

(3) does not apply.

(4) If there are more than three material currencies for this data item, (3) only applies to the three largest in amount. A firm must identify the largest in amount in accordance with the following procedure.

(a) For each currency, take the largest of the asset or liability figure as referred to in the definition of material currency.

(b) Take the three largest figures from the resulting list of amounts.

(5) The date as at which the calculations for the purposes of the definition of material currency are carried out is the last day of the reporting period in question.

(6) The reporting currency for this data item is whichever of the following currencies the firm chooses, namely USD (the United States Dollar), EUR (the euro), GBP (sterling), JPY (the Japanese Yen), CHF (the Swiss Franc), CAD (the Canadian Dollar) or SEK (the Swedish Krona).

Note 25

Note 24 applies, except that paragraphs (3), (4) and (5) do not apply, meaning that material currencies must not be recorded separately.

Note 26

Any changes to reporting requirements caused by a firm receiving an intra-group liquidity modification (or a variation to one) do not take effect until the first day of the next reporting period applicable under the changed reporting requirements for the data item in question if the firm receives that intra-group liquidity modification or variation part of the way through such a period. If the change is that the firm does not have to report a particular data item or does not have to report it at a particular reporting level, the firm must nevertheless report that item or at that reporting level for any reporting period that has already begun. This paragraph is subject to anything that the intra-group liquidity modification says to the contrary.

Note 27

Only applicable to firms that hold securitisation positions in the trading book and/or are the originator or sponsor of securitisations held in the trading book.

Note 28

FSA047, FSA048, FSA050, FSA051, FSA052, FSA053 and FSA054 must be completed by an ILAS BIPRU firm. An ILAS BIPRU firm does not need to complete FSA055. A non-ILAS BIPRU firm must complete FSA055 and does not need to complete FSA047, FSA048, FSA050, FSA051, FSA052, FSA053 and FSA054.

Note 29

This data item must be reported only in the currencies named in FSA052, so that liabilities in GBP are reported in GBP in rows 1 to 4, those in USD are reported in USD in rows 5 to 8, and those in Euro are reported in Euro in rows 9 to 12. Liabilities in other currencies are not to be reported.

Note 30

Requirements under COREP and FINREP should be determined with reference to the EU CRR and applicable technical standards.
SUP 16.12.26RRP

The applicable reporting frequencies for data items referred to in SUP 16.12.25A R are set out according to the type of firm2 in the table below. Reporting frequencies are calculated from a firm'saccounting reference date, unless indicated otherwise.

45Data item

Firms' prudential category

IFPRU 730K firm

IFPRU 125K firm

IFPRU 50K firm

BIPRU firm

UK consolidation group or defined liquidity group

Firms other than BIPRU firms or IFPRU investment firms

COREP/FINREP

Refer to EU CRR and applicable technical standards

Refer to EU CRR and applicable technical standards

Solvency statement

Annually

Annually

Annually

Annually

Annually

FSA001

Quarterly

Quarterly

Half yearly

Half yearly

Half yearly

FSA002

Quarterly

Quarterly

Half yearly

Half yearly

Half yearly

FSA003

Half yearly

Half yearly

FSA004

Half yearly

Half yearly

FSA005

Half yearly

Half yearly

FSA006

Quarterly

Quarterly

Quarterly

Quarterly

FSA007

Annual (note 4)

Annually (note 4)

FSA016

Half yearly

Half yearly

Half yearly

Half yearly

FSA018

Quarterly

Quarterly

Quarterly

FSA019

Annually

Annually

Annually

Annually

Annually

FSA028

Half yearly

FSA029

Quarterly

FSA030

Quarterly

FSA031

Quarterly

FSA032

Quarterly

FSA033

Quarterly

FSA034

Quarterly

FSA035

Quarterly38

FSA039

Half yearly

Half yearly

Half yearly

Half yearly

Half yearly

FSA045

Quarterly

Quarterly

Half yearly

Half yearly

Half yearly

FSA046

Quarterly

FSA047

Daily, weekly, monthly or quarterly (Notes 5, 6 and 8)

Daily, weekly, monthly or quarterly (Notes 5, 7 and 8)

FSA048

Daily, weekly, monthly or quarterly (Notes 5, 6 and 8)

Daily, weekly, monthly or quarterly (Notes 5, 7 and 8)

FSA050

Monthly (Note 5)

Monthly (Note 5)

FSA051

Monthly (Note 5)

Monthly (Note 5)

FSA052

Weekly or monthly (Notes 5 and 9)

Weekly or monthly (Notes 5 and 10)

FSA053

Quarterly (Note 5)

Quarterly (Note 5)

FSA054

Quarterly (Note 5)

Quarterly (Note 5)

FSA055

Annually (Note 5)

Annually (Note 5)

Annually (Note 5)

FSA058

[deleted]

[deleted]

[deleted]

Quarterly

Quarterly

Section A RMAR

Half yearly (note 2) Quarterly (note 3)

Section B RMAR

Half yearly (note 2) Quarterly (note 3)

Section C RMAR

Half yearly (note 2) Quarterly (note 3)

Sections D1 and D250 RMAR

50

Half yearly (note 2) Quarterly (note 3)

Section F RMAR

Half yearly

Note 1

[deleted]

Note 2

Annual regulated business revenue up to and including £5 million.

Note 3

Annual regulated business revenue over £5 million.

Note 4

The reporting date for this data item is six months after a firm's most recent accounting reference date.

Note 5

Reporting frequencies and reporting periods for this data item are calculated on a calendar year basis and not from a firm'saccounting reference date. In particular:

(1) A week means the period beginning on Saturday and ending on Friday.

(2) A month begins on the first day of the calendar month and ends on the last day of that month.

(3) Quarters end on 31 March, 30 June, 30 September and 31 December.

(4) Daily means each business day.

All periods are calculated by reference to London time.

Any changes to reporting requirements caused by a firm receiving an intra-group liquidity modification (or a variation to one) do not take effect until the first day of the next reporting period applicable under the changed reporting requirements if the firm receives that intra-group liquidity modification or variation part of the way through such a period, unless the intra-group liquidity modification says otherwise.

Note 6

If the report is on a solo basis the reporting frequency is as follows:

(1) if the firm does not have an intra-group liquidity modification the frequency is:

(a) weekly if the firm is a standard frequency liquidity reporting firm; and

(b) monthly if the firm is a low frequency liquidity reporting firm;

(2) if the firm is a group liquidity reporting firm in a non-UK DLG by modification (firm level) the frequency is:

(a) weekly if the firm is a standard frequency liquidity reporting firm; and

(b) monthly if the firm is a low frequency liquidity reporting firm;

(3) the frequency is quarterly if the firm is a group liquidity reporting firm in a UK DLG by modification.

Note 7

(1) If the report is by reference to the firm'sDLG by default the reporting frequency is:

(a) weekly if the group liquidity standard frequency reporting conditions are met;

(b) monthly if the group liquidity low frequency reporting conditions are met.

(2) If the report is by reference to the firm'sUK DLG by modification the reporting frequency is:

(a) weekly if the group liquidity standard frequency reporting conditions are met;

(b) monthly if the group liquidity low frequency reporting conditions are met.

(3) If the report is by reference to the firm'snon-UK DLG by modification the reporting frequency is quarterly.

Note 8

(1) If the reporting frequency is otherwise weekly, the item is to be reported on every business day if (and for as long as) there is a firm-specific liquidity stress or market liquidity stress in relation to the firm or group in question.

(2) If the reporting frequency is otherwise monthly, the item is to be reported weekly if (and for as long as) there is a firm-specific liquidity stress or market liquidity stress in relation to the firm or group in question.

(3) A firm must ensure that it would be able at all times to meet the requirements for daily or weekly reporting under paragraph (1) or (2) even if there is no firm-specific liquidity stress or market liquidity stress and none is expected.

Note 9

If the report is on a solo basis the reporting frequency is as follows:

(1) weekly if the firm is a standard frequency liquidity reporting firm; and

(2) monthly if the firm is a low frequency liquidity reporting firm.

Note 10

If the report is by reference to the firm'sUK DLG by modification the reporting frequency is:

(1) weekly if the group liquidity standard frequency reporting conditions are met;

(2) monthly if the group liquidity low frequency reporting conditions are met.
SUP 16.12.28ARRP

2The applicable data items, reporting frequencies and submission deadlines referred to in SUP 16.12.4 R are set out in the table below. Reporting frequencies are calculated from a firm'saccounting reference date, unless indicated otherwise. The due dates are the last day of the periods given in the table below following the relevant reporting frequency period.

Description of data item11

Data item11 (note 1)

Frequency

Submission deadline

Annual regulated business revenue up to and including £5 million

Annual regulated business revenue over £5 million

Balance Sheet

Section A RMAR

Half yearly

Quarterly

30 business days

Income Statement

Section B RMAR

Half yearly

Quarterly

30 business days

Capital Adequacy

Section D1 RMAR

Half yearly

Quarterly

30 business days

Professional indemnity insurance

(note 2)11

Section E RMAR

Half yearly

Quarterly 11

11

30 business days

Threshold Conditions

Section F RMAR

Half yearly

Half yearly

30 business days

Training and Competence

Section G RMAR

Half yearly

Half yearly

30 business days

COBS11 data

Section H RMAR

Half yearly

Half yearly

30 business days

Supplementary product sales data

Section I RMAR

Half yearly11

11

Annually

30 business days

Client money and client assets

Section C RMAR

Half yearly

Quarterly

30 business days

Fees and levies

Section J RMAR

Annually

Annually

30 business days

Note 1

When submitting the completed data item required, a firm must use the format of the data item set out in SUP 16 Annex 18A. Guidance notes for the completion of the data items is set out in SUP 16 Annex 18B.

11Note 2

This item only applies to firms that may be subject to an FSA requirement to hold professional indemnity insurance and are not exempt CAD firms.
BIPRU 11.5.2RRP
A firm must disclose the following information regarding the scope of application of the requirements of the Banking Consolidation Directive:(1) the name of the firm which is the subject of the disclosures;(2) an outline of the differences in the basis of consolidation for accounting and prudential purposes, with a brief description of the entities that are:(a) fully consolidated;(b) proportionally consolidated;(c) deducted from capital resources;(d) neither consolidated nor deducted;(3)
BIPRU 11.5.3RRP
A firm must disclose the following information regarding its capital resources:(1) summary information on the terms and conditions of the main features of all capital resources items and components thereof, including:2(a) 2hybrid capital;(b) 2capital instruments which provide an incentive for the firm to redeem them; and(c) 2capital instruments which the firm treats as tier one capital under GENPRU TP8A;(2) tier one capital resources, with separate disclosure of:22(a) 2all positive
BIPRU 11.5.13RRP
The following information must be disclosed by a firm which calculates its market risk capital requirement using a VaR model:(1) for each sub-portfolio covered:(a) the characteristics of the models used;(b) a description of stress testing applied to the sub-portfolio;(c) a description of the approaches used for back-testing 2and validating the accuracy and consistency of the internal models and modelling processes;(d) 2for the capital charges calculated according to the incremental
BIPRU 11.5.15RRP
A firm must disclose the following information regarding the exposures in equities not included in the trading book:(1) the differentiation between exposures based on their objectives, including for capital gains relationship and strategic reasons, and an overview of the accounting techniques and valuation methodologies used, including key assumptions and practices affecting valuation and any significant changes in these practices;(2) the balance sheet value, the fair value and,
GENPRU 1.3.5GRP
Except where a rule in GENPRU, BIPRU or INSPRU makes different provision, GENPRU 1.3.4 R applies whenever a rule in GENPRU, BIPRU or INSPRU refers to the value or amount of an asset, liability, exposure, equity or income statement item, including:(1) whether, and when, to recognise or de-recognise an asset or liability;(2) the amount at which to value an asset, liability, exposure, equity or income statement item; and(3) which description to place on an asset, liability, exposure,
GENPRU 1.3.14RRP
Wherever possible, a firm must use mark to market in order to measure the value of the investments and positions to which this rule applies under GENPRU 1.3.13 R and GENPRU 1.3.38 R to GENPRU 1.3.41 R. Marking to market is valuation (on at least a daily basis in the case of the trading book positions of a BIPRU firm) at readily available close out prices from independent sources.
GENPRU 1.3.28RRP
In the case of the trading book positions of a BIPRU firm, while daily marking to market may be performed by dealers, verification of market prices and model inputs must be performed by a unit independent of the dealing room, at least monthly (or, depending on the nature of the market/trading activity, more frequently).
GENPRU 1.3.36RRP
Adjustments to accounting values(1) For the purposes of GENPRU and BIPRU, the adjustments in (2) and (3) apply to values calculated pursuant to GENPRU 1.3.4 R in addition to those required by GENPRU 1.3.9 R to GENPRU 1.3.10 R.(2) A BIPRU firm must not recognise either:(a) the fair value reserves related to gains or losses on cash flow hedges of financial instruments measured at amortised cost; or(b) any unrealised gains or losses on debt instruments held, or formerly held,8 in
CONC 10.3.3RRP

Table: Items which must be deducted in arriving at prudential resources

1

Investments in own shares

2

Investments in subsidiaries (Note 1)

3

Intangible assets (Note 2)

4

Interim net losses (Note 3)

5

Excess of drawings over profits for a sole trader or a partnership (Note 3)

Notes

1 Investments in subsidiaries are the full balance sheet value.

2 Intangible assets are the full balance sheet value of goodwill, capitalised development costs, brand names, trademarks and similar rights and licences.

3 The interim net losses in row 4, and the excess of drawings in row 5, are in relation to the period following the date as at which the capital resources are being computed.

[Note: Until 31 March 2017, transitional provisions apply to CONC 10.3.3 R: see CONC TP 5.1]

CONC 10.3.4RRP
A subordinated loan/debt must not form part of the prudential resources of the firm unless it meets the following conditions:(1) it has an original maturity of:(a) at least five years; or(b) it is subject to five years' notice of repayment;(2) the claims of the subordinated creditors must rank behind those of all unsubordinated creditors;(3) the only events of default must be non-payment of any interest or principal under the debt agreement or the winding up of the firm;(4) the
CONC 10.3.5RRP

When calculating its prudential resources, the firm must exclude any amount by which the aggregate amount of its subordinated loans/debts exceeds the amount calculated as follows:

a - b

where:

a

=

Items 1 - 5 in the Table of items which are eligible to contribute to a firm's prudential resources (see CONC 10.3.2 R)

b

=

Items 1 - 5 in the Table of items which must be deducted in arriving at a firm's prudential resources (see CONC 10.3.3 R)

[Note: Until 31 March 2017, transitional provisions apply to CONC 10.3.5 R: see CONC TP 5.2]

BIPRU 2.1.3GRP
The rules in GENPRU and BIPRU do not allow a firm that is a parent undertaking to incorporate the capital and requirements of a subsidiary undertaking in the calculation of that firm'scapital resources and capital resources requirement. A firm that wishes to incorporate a subsidiary undertaking for this purpose should therefore apply for a solo consolidation waiver.
BIPRU 2.1.7RRP
A firm that has a solo consolidation waiver must incorporate in the calculation of its requirements under the main BIPRU firm Pillar 1 rules each subsidiary undertaking to which the solo consolidation waiver applies. This does not apply to the base capital resources requirement.323
BIPRU 2.1.24RRP
A firm must be able to demonstrate fully to the appropriate regulator the circumstances and arrangements, including legal arrangements, by virtue of which there are no material practical or legal impediments, and none are foreseen, to the prompt transfer of the capital resources of the subsidiary undertaking referred to in BIPRU 2.1.19 R or repayment of liabilities when due by the subsidiary undertaking to the firm.
INSPRU 3.2.5AGRP
(1) 3GENPRU 2 Annex 7 R (3) requires firms to consider first whether an asset is a derivative or quasi-derivative transaction notwithstanding that it is also capable of falling within one or more other categories in GENPRU 2 Annex 7 R (1). If it is a derivative or quasi-derivative transaction it is only admissible if it satisfies the conditions for it to be approved under INSPRU 3.2.5 R. Firms should be able to justify whether or not their assets are derivatives or quasi-derivatives.(2)
INSPRU 3.2.6RRP
A derivative or quasi-derivative is held for the purpose of efficient portfolio management if the firm reasonably believes the derivative or quasi-derivative (either alone or together with any other covered transactions) enables the firm to achieve its investment objectives by one of the following (or, in relation to permitted links, in a manner which includes but is not limited to)1:(1) generating additional capital or income in one of the ways described in INSPRU 3.2.7 R; or(2)
INSPRU 3.2.7RRP
The generation of additional capital or income falls within INSPRU 3.2.6R (1) where it arises from:(1) taking advantage of pricing imperfections in relation to the acquisition and disposal (or disposal and acquisition) of rights in relation to assets the same as, or equivalent to, admissible assets or permitted links1; or(2) receiving a premium for selling a covered call option or its equivalent, the underlying of which is an admissible asset or permitted link1, even if that additional
INSPRU 3.2.39GRP
For the purposes of assessing adequate quality in INSPRU 3.2.38R (3), reference should be made to the criteria for credit risk loss mitigation set out in INSPRU 2.1.16 R. The valuation rules in GENPRU 1.3 apply for the purpose of determining the value of both collateral received, and the securities transferred, by the firm. In addition, where collateral takes the form of assets transferred, under the rules in GENPRU any such asset that is not an admissible asset (see GENPRU 2
BIPRU 12.2.1RRP
(1) A firm must at all times maintain liquidity resources which are adequate, both as to amount and quality, to ensure that there is no significant risk that its liabilities cannot be met as they fall due.(2) For the purpose of (1):(a) a firm may not include liquidity resources that can be made available by other members of its group;(b) an incoming EEA firm or a third country BIPRU firm may not, in relation to its UK branch, include liquidity resources other than those which
BIPRU 12.2.3RRP
The conditions to which BIPRU 12.2.1R (2)(b) refers are that the firm's liquidity resources are:(1) under the day-to-day control of the UK branch's senior management;(2) held in an account with one or more custodians in the sole name of the UK branch;(3) unencumbered; and(4) for the purpose of the overall liquidity adequacy rule only, attributed to the balance sheet of the UK branch.
BIPRU 12.2.5GRP
For the purposes of the overall liquidity adequacy rule, liquidity resources are not confined to the amount or value of a firm's marketable, or otherwise realisable, assets. Rather, in assessing the adequacy of those resources, a firm should have regard to the overall character of the resources available to it which enable it to meet its liabilities as they fall due. Therefore, for the purposes of that rule, a firm should ensure that:(1) it holds sufficient assets which are
BIPRU 9.4.1RRP
The originator of a traditional securitisation may exclude securitised exposures from the calculation of risk weighted exposure amounts and expected loss amounts if either of the following conditions is fulfilled:(1) 2significant credit risk associated with the securitised exposures is considered to have been transferred to third parties; or(2) 2the originator applies a 1250% risk weight to all securitisation positions it holds in the securitisation or deducts these securitisation
BIPRU 9.4.11RRP
2Significant credit risk will be considered to be transferred for an originator in the following cases:(1) 2the risk weighted exposure amounts of the mezzanine securitisation positions held by the originator in the securitisation do not exceed 50% of the risk weighted exposure amounts of all mezzanine securitisation positions existing in this securitisation;(2) 2where there are no mezzanine securitisation positions in a given securitisation and the originator can demonstrate that
BIPRU 9.4.15DRP
2An originator's application for a waiver of the requirements in BIPRU 9.4.11R and BIPRU 9.4.12R must demonstrate that the following conditions are satisfied.(1) 2it has policies and methodologies in place which ensure that the possible reduction of capital requirements which the originator achieves by the securitisation is justified by a commensurate transfer of credit risk to third parties; and(2) 2that such a transfer of credit risk to third parties is also recognised for the
MIPRU 4.2BA.5RRP
(1) Economic substance: the risk management and capital treatment of a securitisation must be determined on the basis of its economic substance and not its legal form.(2) Eligible structures: only standalone traditional securitisations are eligible.(3) Eligible underlying assets: term assets (e.g. residential mortgages) originated by the firm are eligible. (4) Effective credit-risk transfer: the securitisation mechanism (e.g. true sale) must effectively transfer the risks of the
MIPRU 4.2BA.27RRP
(1) The support described in MIPRU 4.2BA.26R (1) is permitted.(2) The support described in MIPRU 4.2BA.26R (2) is not permitted.(3) The support described in MIPRU 4.2BA.26R (3) is permitted if the following conditions are met: (a) contractual and marketing documents of the securitisation expressly envisage and allow for the possibility of the firm providing such support;(b) the nature of any support that the firm may give is precisely described in the contractual and marketing
MIPRU 4.2BA.28GRP
A waiver of the right to future margin income will not breach the prohibition against implied future support in MIPRU 4.2BA.5R (6) provided that:(1) the degree of support that can be given can be defined precisely by reference to the contractual documentation for the securitisation, even if the amount of support may not be ascertainable in absolute monetary terms; and(2) no adjustment to the firm'scapital resources or capital resources requirement is required, as a firm should
MIPRU 4.2BA.30RRP
If a firm is found to have provided support to a securitisation it will be required to: (1) hold capital resources against all of the securitised exposures associated with the securitisation transaction as if they had not been securitised; and(2) disclose publicly in a timely fashion: (a) where it has provided such support; and(b) the regulatory capital impact of doing so.
SYSC 4.3A.4RRP
A CRR firm must devote adequate human and financial resources to the induction and training of members of the management body.[Note: article 91(3) of CRD]
SYSC 4.3A.8RRP
A CRR firm that is significant must:(1) establish a nomination committee composed of members of the management body who do not perform any executive function in the firm;(2) ensure that the nomination committee is able to use any forms of resources the nomination committee deems appropriate, including external advice; and(3) ensure that the nomination committee receives appropriate funding. [Note: article 88(2) of CRD]
IFPRU 4.12.8GRP
A firm seeking to achieve capital relief by deducting or applying a 1250% risk weight where permitted under articles 243 or 244 of the EU CRR does not need to make the notification in IFPRU 4.12.1 R.1 However, in such cases, a firm should consider whether the characteristics of the transaction are such that the FCA would reasonably expect prior notice of it.1
IFPRU 4.12.17GRP
The information the FCA expects a firm to provide in a permission application includes the following:(1) details of the firm's governance processes for significant risk transfer, including details of any relevant committees and the seniority and expertise of key persons involved in sign-off;(2) a copy of the firm's significant risk transfer policy, including details of the significant risk transfer calculation policies, methodologies and any models used to assess risk transfer
IFPRU 4.12.20GRP
Permissions relating to individual transactions do not need to be granted prior to the execution of a transaction. The FCA does not intend to specify the timeframe in which a firm should submit an individual transaction permission, but the firm should note that capital relief from a specific transaction will not be available until a firm has obtained permission covering the significant risk transfer assessment and capital treatment (unless the transaction is being notified under
IFPRU 4.12.41GRP
The FCA will seek to ensure that the securitisation framework is not used to undermine or arbitrage other parts of the prudential framework. For other similar credit protection arrangements (eg, those subject credit risk mitigation or trading book requirements), the impact of certain features (such as significant premiums or call options) may cast doubt on the extent of risk transferred and the resulting capital assessment. Features which result in inadequate own funds requirements
LR 5.4A.9GRP
Information required under LR 13.3.1R(1) (Contents of all circulars) to be included in the circular or announcement should include an explanation of:(1) the background and reasons for the proposed transfer;(2) any changes to the issuer's business that have been made or are proposed to be made in connection with the proposal;(3) the effect of the transfer on the issuer's obligations under the listing rules;(4) how the issuer will meet any new eligibility requirements, for example
LR 5.4A.13GRP
The FCA will not generally reassess compliance with eligibility requirements (for example LR 6.1.16 R (Working capital)) if the issuer has previously been assessed by the FCA as meeting those requirements under its existing listing category when its equity shares2 were listed.
LR 5.4A.15GRP
An issuer may take steps, in connection with a transfer, which require it to consider whether a prospectus is necessary, for example, if the company or its capital is reconstituted in a way that could amount to an offer of transferable securities to the public. The issuer and its advisers should consider whether directive obligations may be triggered.
BIPRU 4.3.4RRP
The risk weighted exposure amounts for credit risk for exposures belonging to one of the exposure classes referred to in (1) to (4) must, unless deducted from capital resources, be calculated in accordance with the following provisions:(1) for exposures in the sovereign, institution and corporate IRB exposure class, BIPRU 4.4.57 R to BIPRU 4.4.60 R, BIPRU 4.4.79 R, BIPRU 4.5.8 R to BIPRU 4.5.10 R (for specialised lending exposures), BIPRU 4.9.3 R and BIPRU 4.8.16 R to BIPRU 4.8.17
BIPRU 4.3.78GRP
A firm may carry out the adjustments under BIPRU 4.3.76 R (Adjustments to averages of historical experience) by adjusting the data from which estimates are made rather than by adjusting the estimates themselves if it can demonstrate that capital requirements are not underestimated as a result.
BIPRU 4.3.89GRP
Estimation of PD through the use of a technique set out in BIPRU does not remove the need to make conservative adjustments, where necessary, related to the expected range of estimation errors so that capital requirements produced by the relevant model or other rating system are not understated.
BIPRU 4.3.126GRP
(1) A firm using own estimates of conversion factors should take into account all facility types that may result in an exposure when an obligor defaults, including uncommitted facilities.(2) A firm should treat a facility as an exposure from the earliest date at which a customer is able to make drawings under it.(3) To the extent that a firm makes available multiple facilities, it should be able to demonstrate:(a) how it deals with the fact that exposures on one may become exposures
BIPRU 7.10.53RRP
A firm'sVaR model must capture accurately all material price risks for positions within the scope of its VaRpermission, including risks relating to options or option-like positions. The firm must ensure that, if its VaR model does not accurately capture any material risk, the firm has capital resources adequate to cover that risk. These capital resources must be additional to those required to meet its capital resources requirement.
BIPRU 7.10.54GRP
For example, BIPRU 7.10.53R might involve creating and documenting a prudent incremental PRR charge for the risk not captured in the VaR model and holding sufficient capital resources against this risk. In that case the firm should hold capital resources at least equal to its capital resources requirement as increased by adding this incremental charge to the model PRR. Alternatively the firm may make valuation adjustments through its profit and loss reserves to cover this material
BIPRU 7.10.55GRP
A firm is expected ultimately to move towards full revaluation of option positions. For portfolios containing path dependent options, an instantaneous price shock applied to a static portfolio will be acceptable provided that the risks not captured by such an approach are not material. Where a risk is immaterial and does not justify further capital resources, that immaterial risk should still be documented.
BIPRU 7.10.55ZARRP
3If the results of the stress tests carried out in accordance with BIPRU 7.10.55Z R indicate a material shortfall in the amount of capital required under the all price risk measure, a firm must notify the appropriate regulator of this circumstance by no later than two business days after the business day on which the material shortfall occurred.
BIPRU 7.10.55ZBGRP
3The appropriate regulator may use its powers under section 55J (Variation etc. on the Authority's own initiative) of the Act to impose on the firm a capital add-on to cover the material shortfall reported under BIPRU 7.10.55ZA R.
BIPRU 3.4.57RRP
Exposures fully and completely secured, to the satisfaction of the firm, by shares in Finnish residential housing companies, operating in accordance with the Finnish Housing Company Act of 1991 or subsequent equivalent legislation, in respect of residential property which is or shall be occupied or let by the owner must be assigned a risk weight of 35%.[Note: BCD Annex VI Part 1 point 46]
BIPRU 3.4.97RRP
For the purpose of defining the secured portion of the past due item, eligible collateral and guarantees must be those eligible for credit risk mitigation purposes under BIPRU 5.[Note: BCD Annex VI Part 1 point 62]
BIPRU 3.4.124RRP
Where a firm is not aware of the underlying exposures of a CIU, it may calculate an average risk weight for the CIU in accordance with the standardised approach subject to the following rules: it will be assumed that the CIU first invests, to the maximum extent allowed under its mandate, in the standardised credit risk exposure classes attracting the highest capital requirement, and then continues making investments in descending order until the maximum total investment limit
BIPRU 3.4.130RRP
Holdings of equity and other participations except where deducted from capital resources must be assigned a risk weight of at least 100%.[Note: BCD Annex VI Part 1 point 86]
BIPRU 5.4.16RRP
A firm must not use both the financial collateral simple method and the financial collateral comprehensive method, unless such use is for the purposes of BIPRU 4.2.17 R to BIPRU 4.2.19 R and BIPRU 4.2.26 R, and such use is provided for by the firm'sIRB permission. A firm must demonstrate to the appropriate regulator that this exceptional application of both methods is not used selectively with the purpose of achieving reduced minimum capital requirements and does not lead to regulatory
BIPRU 5.4.37RRP

This table belongs to BIPRU 5.4.34 R.

Other collateral or exposure types

20 day liquidation period (%)

10 day liquidation period (%)

5 day liquidation period (%)

Main index equities, main index convertible bonds

21.213

15

10.607

Other equities or convertible bonds listed on a recognised investment exchange or designated investment exchange

35.355

25

17.678

Cash

0

0

0

Gold

21.213

15

10.607
BIPRU 5.4.62RRP
In relation to repurchase transaction and securities lending or borrowing transactions, where a firm uses the supervisory volatility adjustments approach or the own estimates of volatility adjustments approach and where the conditions set out in (1) – (8) are satisfied, a firm may, instead of applying the volatility adjustments calculated under BIPRU 5.4.30 R to BIPRU 5.4.61 R, apply a 0% volatility adjustment:(1) both the exposure and the collateral are cash or debt securities
BIPRU 5.4.64RRP
Core market participant means the following entities:(1) the entities mentioned in BIPRU 5.4.2 R (2)exposures to which are assigned a 0% risk weight under the standardised approach to credit risk;(2) institutions;(3) other financial companies (including insurance companies) exposures which are assigned a 20% risk weight under the standardised approach;(4) regulated CIUs that are subject to capital or leverage requirements;(5) regulated pension funds; and(6) a recognised clearing
BIPRU 12.5.4RRP
A firm must ensure that:(1) it regularly carries out an ILAA;(2) it makes a written record of its ILAA;(3) its ILAA is proportionate to the nature, scale and complexity of its activities; (4) its ILAA takes into account whole-firm and group-wide liquidity resources only to the extent that reliance on these is permitted by the appropriate regulator;(5) its ILAA includes an assessment of the results of the stress tests required by BIPRU 12.5.6 R; and(6) its ILAA includes an assessment
BIPRU 12.5.5GRP
A firm should carry out an ILAA at least annually, or more frequently if changes in its business or strategy or the nature, scale or complexity of its activities or the operational environment suggest that the current level of liquidity resources is no longer adequate. A firm should expect that its usual supervisory contact at the appropriate regulator will ask for the ILAA to be submitted as part of the ongoing supervisory process.
BIPRU 12.5.6RRP
A firm must ensure that in carrying out its ILAA it considers how that firm's liquidity resources change as a result of:(1) the stress in BIPRU 12.5.8 R (the first liquidity stress);(2) the stress in BIPRU 12.5.11 R (the second liquidity stress); and(3) the first and second liquidity stresses occurring simultaneously.
BIPRU 12.5.7GRP
The appropriate regulator will review the results of a firm'sILAA, including the results of the stress tests required by BIPRU 12.5.6R, as part of its Supervisory Liquidity Review Process (SLRP). The appropriate regulator's review of the stress test results will assist it assessing the adequacy of a firm's liquidity resources relative to other ILAS BIPRU firms and, consequently, in calibrating the individual liquidity guidance that it gives to that firm. BIPRU 12.9.2G sets out
IFPRU 3.1.5GRP
Principle 4 requires a firm to maintain adequate financial resources. IFPRU 3 sets out provisions that deal specifically with the adequacy of that part of a firm's financial resources that consists of own funds in addition to Parts Two (Own Funds) and Three (Capital requirements) of the EUCRR.
IFPRU 3.1.7RRP
At the time that it first becomes an IFPRU investment firm, a firm must hold initial capital of not less than the base own funds requirement applicable to that firm.