Related provisions for IPRU-INV 13.1.24
This table belongs to GENPRU 2.2.5 G
This table belongs to GENPRU 2.2.51 G
Description of the stage of the capital resources calculation |
Stage in the capital resources table |
Amount (£) |
Total tier one capital after deductions 8 |
Stage F |
80 |
Total tier two capital 8 |
Stage K |
80 |
Deductions |
Stage M |
(20) |
Total tier one capital and tier two capital after deductions |
Stage N |
140 |
Upper tier three capital (this example assumes the firm has no lower tier three capital (trading book profits)) |
Stage Q |
50 |
Total capital resources |
Stage T |
190 |
This table belongs to GENPRU 2.2.55 G
Description of the stage of the capital resources calculation |
Stage in the capital resources table |
Amount (£) |
Total tier one capital and tier two capital after deductions |
Stage N |
140 |
Credit and counterparty1 risk requirement 16 |
(100) |
|
Tier one capital and tier two capital available to meet market risk requirement |
40 |
|
Stage Q |
50 |
|
Total capital available to meet market risk requirement |
90 |
|
Market risk requirement |
(90) |
|
Market risk requirement met subject to meeting gearing limit set out in GENPRU 2.2.49 R – see GENPRU 2.2.57 G |
Table: Application of tier two capital rules to tier three debt
This table belongs to GENPRU 2.2.244 R
Adjustment |
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GENPRU 2.2.159 R (General conditions for eligibility as tier two capital) |
The references in GENPRU 2.2.159R (5) (Capital must not become repayable prior to stated maturity date except in specified circumstances) to repayment at the option of the holder are replaced by a reference to GENPRU 2.2.242R (1) (Upper tier three capital should have maturity or notice period of at least two years) The reference in GENPRU 2.2.159R (10) (Description of tier two capital in marketing documents) to GENPRU 2.2.271 R (Other requirements: insurers carrying on with-profits business (Insurer only)) does not apply |
GENPRU 2.2.161 R (Additional remedies) |
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GENPRU 2.2.163 R (Legal opinion where debt subject to a law of a country outside the United Kingdom) |
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GENPRU 2.2.169 R (Ineligibility as tier two capital owing to connected transactions) |
The reference to GENPRU 2.2.177 R (General eligibility conditions for upper tier two capital) does not apply |
GENPRU 2.2.171 R (Amendments to terms of the capital instrument) |
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GENPRU 2.2.172 R to GENPRU 2.2.173 R (Redeemability at the option of the issuer) |
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GENPRU 2.2.174 R (Notification of redemption) |
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References in the rules in the first column to the fifth anniversary are amended so as to refer to the second anniversary. |
This table belongs to GENPRU 2.1.47 R
Firm category |
Amount: Currency equivalent of12 |
BIPRU firm (but not a collective portfolio management investment firm)12 12 |
€50,00012 |
Schedule to the Recognition Requirements Regulations, Paragraph 1
2(1) The [UK RIE] must have financial resources sufficient for the proper performance of its [ relevant functions] as a [UK RIE]. |
(2) In considering whether this requirement is satisfied, the [FCA]5must (without prejudice to the generality of regulation 6(1)) take into account all the circumstances, including the [UK RIE's] connection with any person , and any activity carried on by the [UK RIE], whether or not it is anexempt activity. 5 |
The amount of additional capital resources that a firm must hold as a result of an exclusion under 13.1.21R should be calculated by referring to the firm's relevant income in the following table:
Relevant income £000s |
Minimum additional capital resources |
|
more than |
up to |
£000s |
(Notes 1 and 2) |
||
0 |
100 |
5 |
100 |
200 |
12 |
200 |
300 |
18 |
300 |
400 |
21 |
400 |
500 |
23 |
500 |
600 |
25 |
600 |
700 |
27 |
700 |
800 |
28 |
800 |
900 |
30 |
900 |
1,000 |
31 |
1,000 |
1,500 |
37 |
1,500 |
2,000 |
42 |
2,000 |
2,500 |
46 |
2,500 |
3,000 |
51 |
3,000 |
3,500 |
55 |
3,500 |
4,000 |
59 |
4,000 |
4,500 |
63 |
4,500 |
5,000 |
67 |
5,000 |
6,000 |
73 |
6,000 |
7,000 |
79 |
7,000 |
8,000 |
85 |
8,000 |
9,000 |
90 |
9,000 |
10,000 |
95 |
10,000 |
100,000 |
95y |
100,000 |
n/a |
950 |
Note 1 - For firms with relevant income of more than £10m but up to £100m value y is calculated by relevant income/ £10m. |
||
Note 2 - The calculation of a firm's capital resources is set out in sections 13.1A to 13.12 (see rule 13.1.1 for application of these sections to an exempt CAD firm and a category B firm). |
The amount of additional capital resources that a firm must hold where the policy's excess on any claim is more than £5,000 must be calculated by referring to the firm's relevant income and excess obtained in the following table:
All amounts are shown in £000s (Notes 1 and 2)
Relevant income is |
Excess obtained, up to and including |
||||||||||||
more than |
up to |
5 |
10 |
15 |
20 |
25 |
30 |
40 |
50 |
75 |
100 |
150 |
200+ |
0 |
100 |
0 |
4 |
7 |
9 |
12 |
14 |
18 |
21 |
28 |
34 |
45 |
54 |
100 |
200 |
0 |
7 |
11 |
14 |
17 |
20 |
25 |
29 |
38 |
46 |
59 |
70 |
200 |
300 |
0 |
9 |
14 |
18 |
21 |
24 |
30 |
35 |
45 |
54 |
69 |
82 |
300 |
400 |
0 |
11 |
16 |
21 |
24 |
28 |
34 |
39 |
50 |
60 |
77 |
91 |
400 |
500 |
0 |
13 |
18 |
23 |
27 |
30 |
37 |
43 |
55 |
66 |
83 |
98 |
500 |
600 |
0 |
14 |
20 |
25 |
29 |
33 |
40 |
46 |
59 |
70 |
89 |
105 |
600 |
700 |
0 |
16 |
22 |
27 |
31 |
35 |
42 |
49 |
63 |
74 |
94 |
111 |
700 |
800 |
0 |
17 |
23 |
28 |
33 |
37 |
45 |
52 |
66 |
78 |
99 |
117 |
800 |
900 |
0 |
18 |
24 |
30 |
35 |
39 |
47 |
54 |
69 |
82 |
103 |
122 |
900 |
1,000 |
0 |
19 |
26 |
31 |
36 |
41 |
49 |
56 |
72 |
85 |
107 |
126 |
1,000 |
1,500 |
0 |
23 |
31 |
37 |
43 |
48 |
57 |
66 |
83 |
99 |
124 |
146 |
1,500 |
2,000 |
0 |
26 |
35 |
42 |
48 |
54 |
64 |
73 |
93 |
109 |
138 |
161 |
2,000 |
2,500 |
0 |
29 |
38 |
46 |
53 |
59 |
71 |
81 |
102 |
121 |
152 |
179 |
2,500 |
3,000 |
0 |
32 |
42 |
51 |
58 |
65 |
78 |
89 |
112 |
132 |
166 |
195 |
3,000 |
3,500 |
0 |
35 |
46 |
55 |
63 |
71 |
84 |
96 |
121 |
142 |
179 |
210 |
3,500 |
4,000 |
0 |
38 |
50 |
59 |
68 |
76 |
90 |
102 |
129 |
152 |
191 |
223 |
4,000 |
4,500 |
0 |
41 |
53 |
63 |
72 |
80 |
95 |
108 |
137 |
161 |
202 |
236 |
4,500 |
5,000 |
0 |
43 |
56 |
67 |
76 |
85 |
100 |
114 |
144 |
169 |
212 |
248 |
5,000 |
6,000 |
0 |
48 |
62 |
73 |
84 |
93 |
110 |
125 |
157 |
185 |
231 |
271 |
6,000 |
7,000 |
0 |
52 |
67 |
79 |
90 |
101 |
119 |
135 |
169 |
199 |
249 |
291 |
7,000 |
8,000 |
0 |
56 |
72 |
85 |
97 |
107 |
127 |
144 |
181 |
212 |
265 |
310 |
8,000 |
9,000 |
0 |
59 |
76 |
90 |
103 |
114 |
134 |
152 |
191 |
224 |
280 |
328 |
9,000 |
10,000 |
0 |
63 |
80 |
95 |
108 |
120 |
141 |
160 |
201 |
236 |
294 |
344 |
10,000 |
100,000 |
0 |
63y |
80y |
95y |
108y |
120y |
141y |
160y |
201y |
236y |
294y |
344y |
100,000 |
n/a |
0 |
630 |
800 |
950 |
1080 |
1200 |
1410 |
1600 |
2010 |
2360 |
2940 |
3440 |
Note 1 - For firms with relevant income more of £10m but up to £100m value y is calculated by relevant income/ £10m. |
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Note 2 - The calculation of a firm's capital resources is set out in sections 13.1A to 13.12 (see rule 13.1.1 for application of these sections to an exempt CAD firm and a category B firm). |
Table: Capital charges relating to consolidated requirement components
This table belongs to BIPRU 8.7.11 R
Rules on which the consolidated requirement component are based (the applicable risk capital requirement) |
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