Related provisions for IFPRU 11.5.12

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IFPRU 11.5.1RRP
This section applies to:(1) a firm that is an RRD group member; (2) a qualifying parent undertaking that is an RRD group member; and(3) a qualifying parent undertaking that is a mixed activity holding company of an IFPRU 730k firm in an RRD group.
IFPRU 11.5.2GRP
(1) This section applies where an RRD group member gives, or proposes to give, intra-group financial support using an RRD group financial support agreement.(2) It does not apply to other sorts of intra-group financial arrangements, including funding arrangements and the operation of centralised funding arrangements.(3) It does not apply to financial support arrangements where none of the parties to the arrangement has infringed, or is likely to infringe, an RRD early intervention
IFPRU 11.5.3GRP
(1) RRD recognises a specific form of intra-group financial support. This allows an RRD group member in one EEA State or a third country2 to give financial support to an RRD institution in its group in another EEA State or third country2, when that institution has infringed or is likely to infringe an RRD early intervention condition.(2) To give this specific form of financial support an RRD group member must use an RRD group financial support agreement and satisfy the applicable
IFPRU 11.5.6GRP
An RRD group financial support agreement may include a reciprocal agreement so the group member receiving financial support can give financial support to the group member agreeing to give financial support.[Note: article 19(6) of RRD]
IFPRU 11.5.7RRP
(1) The following must apply to their consolidating supervisor for approval of any proposed RRD group financial support agreement or of any amendment to that agreement:(a) a firm that is the EEA parent undertaking of an RRD group;(b) a qualifying parent undertaking that is the EEA parent undertaking of an RRD group; and(c) an IFPRU 730k firm that is a subsidiary of an EEA parent undertaking of an RRD group: (i) where the EEA parent undertaking is an EEA parent financial holding
IFPRU 11.5.20RRP
An RRD group member may only give financial support using an RRD group financial support agreement if the FCA has:(1) agreed to the giving of the support with restrictions; or(2) agreed to the giving of the support without restrictions; or(3) not prohibited the support within five business days of receiving a notice of intention to give financial support.[Note: article 25(2) and (5) of RRD]
IFPRU 11.3.1RRP
This section applies to:(1) a firm that is the EEA parent undertaking of an RRD group; (2) a qualifying parent undertaking that is the EEA parent undertaking of an RRD group; and(3) an IFPRU 730k firm that is the subsidiary of the EEA parent undertaking of an RRD group where: (a) the EEA parent undertaking is an EEA parent financial holding company or an EEA parent mixed financial holding company that is incorporated in, or formed under, the law of an EEA state other than the
IFPRU 11.3.5RRP
The group recovery plan must: (1) consist of a plan for the recovery of the RRD group as a whole; and(2) identify measures the group may need to implement at the level of:(a) the EEA parent undertaking; and(b) each individual subsidiary.[Note: article 7(1) of RRD]
IFPRU 11.3.6RRP
The group recovery plan must include arrangements to ensure the coordination and consistency of measures for each RRD group member, including, where applicable, each significant branch.[Note: article 7(4) of RRD]
IFPRU 11.3.7RRP
The group recovery plan must:(1) aim to stabilise the RRD group as a whole and each RRD institution in the group, when the group, or any RRD institution in the group, is under financial stress;(2) aim to address or remove the causes of the financial stress and restore the financial position of the group or the RRD institution in question; and(3) at the same time consider the financial position of other group members.[Note: article 7(4) of RRD]
IFPRU 11.3.9RRP
If the RRD group includes an IFPRU 730k firm that is not a significant IFPRU firm (and does not include an IFPRU 730k firm that is a significant IFPRU firm) the group recovery plan must include:(1) a summary of the key elements of the group recovery plan;(2) information on the governance of the group, including: (a) how the group recovery plan is integrated into the corporate governance of the group; and (b) the group's overall risk management framework;(3) a description of the
IFPRU 11.3.11GRP
(1) When identifying recovery options, a firm or qualifying parent undertaking should consider a range of scenarios of severe macroeconomic and financial stress relevant to the group's specific conditions.(2) The range of scenarios should include system-wide events and stress specific to individual legal persons and groups.(3) For each of the scenarios in (1), a group recovery plan should identify whether there are:(a) obstacles to implementing recovery measures within the group,
IFPRU 11.3.13RRP
If the group recovery plan includes the use of central bank facilities, the firm or qualifying parent undertaking must: (1) include an analysis of how and when members of the group may apply for the use of central bank facilities; and(2) identify those assets which would be expected to qualify as collateral.[Note: articles 5(4) and 7(5) of RRD]
IFPRU 11.3.19RRP
A firm or qualifying parent undertaking must demonstrate to its consolidating supervisor that:(1) carrying out its group recovery plan is reasonably likely to maintain or restore the viability and financial position of RRD institutions in the group, taking into account the preparatory measures that the group has taken, or plans to take; and(2) its group recovery plan: (a) is reasonably likely to be carried out quickly and effectively in situations of financial stress; and(b) avoids,
IFPRU 11.1.1RRP
IFPRU 11 applies to:(1) an IFPRU 730k firm that is not subject to supervision on a consolidated basis; (2) a firm that is an RRD group member; (3) a qualifying parent undertaking that is an RRD group member; and(4) a qualifying parent undertaking that is a mixed activity holding company of an IFPRU 730k firm.
IFPRU 11.1.2GRP
(1) An IFPRU 730k firm that is not subject to supervision on a consolidated basis will not be an RRD group member.(2) An IFPRU 730k firm may be subject to supervision on a consolidated basis by the FCA, the PRA or another competent authority.
IFPRU 11.1.6GRP
(1) RRD applies to credit institutions and to investments firms with an initial capital requirement of €730,000. Together, these are referred to as RRD institutions in our rules.(2) It also applies to financial institutions, financial holding companies and mixed financial holding companies within the same group as these institutions that are subsidiaries of an EEA parent undertaking. An EEA parent undertaking is an institution, a financial holding company or a mixed financial
IFPRU 11.1.7GRP

The table below summarises whether a section of IFPRU 11 applies to a firm or qualifying parent undertaking:

(1) IFPRU 730k firm that is not subject to supervision on a consolidated basis

(2) firm or qualifying parent undertaking that is the EEA parent undertaking of an RRD group

(3) specific application to an IFPRU 730k firm that is a subsidiary of an EEA parent undertaking in another EEA State (note 1)

(4) firm or qualifying parent undertaking that is a subsidiary of an EEA parent undertaking of an RRD group

(5) qualifying parent undertaking that is a mixed activity holding company of an IFPRU 730k firm

IFPRU 11.1 (Application and purpose)

Yes

Yes

No

Yes

Yes

IFPRU 11.2 (Individual recovery plans)

Yes

No

No

No

No

IFPRU 11.3 (Group recovery plans)

No

Yes

Yes

No

No

IFPRU 11.4 (Information for resolution plans)

Yes

Yes

Yes

No

No

IFPRU 11.5 (Intra-group financial support)

No

Yes

Yes - IFPRU 11.5.7 R only

Yes

Yes (note 2)

IFPRU 11.6 (Contractual recognition of bail-in)

Yes

Yes

No

Yes

Yes (note 3)

IFPRU 11.7 (Notifications)

Yes

Yes

No

Yes

Yes

Note 1: IFPRU 11.3.1R (3) and IFPRU 11.4.1R (4) more fully describe this type of firm. Where specific application is not provided for this type of firm, the application is explained by (4).

Note 2: IFPRU 11.5 only applies to mixed activity holding companies of an IFPRU 730k firm in an RRD group.

Note 3: IFPRU 11.6 only applies to mixed activity holding companies that do not hold an RRD institution using an intermediate financial holding company or mixed financial holding company.
SUP 16.20.2RRP

A firm or qualifying parent undertaking must send its recovery plan or group recovery plan to the FCA within three months of the reporting reference dates specified in the table below:

Type of firm or qualifying parent undertaking

Type of plan

Total balance sheet assets (see SUP 16.20.3 G)

First reporting reference date

Ongoing reporting reference date

firm or qualifying parent undertaking in an RRD group that includes an IFPRU 730k firm that is a significant IFPRU firm or does not include an IFPRU 730k firm

group recovery plan

More than £2.5 billion

30 June 2015

Every year on the same date as the first reporting reference date.

More than £1 billion and less than £2.5 billion

30 September 2015

More than £500 million and less than £1 billion

31 December 2015

Less than £500 million

31 March 2016

significant IFPRU firm

recovery plan

More than £2.5 billion

30 June 2015

Every year on the same date as the first reporting reference date.

More than £1 billion and less than £2.5 billion

30 September 2015

More than £500 million and less than £1 billion

31 December 2015

Less than £500 million

31 March 2016

firm or qualifying parent undertaking in an RRD group that includes an IFPRU 730k firm that is not a significant IFPRU firm4 (but does not include an IFPRU 730k firm that is a significant IFPRU firm4)

group recovery plan

More than £50 million and less than £500 million

30 September 2015

Every two years on the same date as the first reporting reference date.

More than £15 million and less than £50 million

31 December 2015

More than £5 million and less than £15 million

31 March 2016

Less than £5 million

30 June 2016

non-significant IFPRU firm

recovery plan

More than £50 million and less than £500 million

30 September 2015

Every two years on the same date as the first reporting reference date.

More than £15 million and less than £50 million

31 December 2015

More than £5 million and less than £15 million

31 March 2016

Less than £5 million

30 June 2016

[Note: articles 4(1)(b) and 6(1) of RRD]

SUP 16.20.3GRP
(1) The calculation of total balance sheet assets for SUP 16.20.2 R should be consistent with the way this figure is calculated for determining whether a firm is a significant IFPRU firm.(2) For group recovery plans, the calculation of total balance sheet assets should be based on the assets of the largest RRD institution in the group.
SUP 16.20.4RRP

A firm or qualifying parent undertaking must send the information required for a resolution plan to the FCA within three months of the reporting reference dates specified in the table below:

Type of firm or qualifying parent undertaking

First reporting reference date

Ongoing reporting reference date

firm or qualifying parent undertaking in an RRD group that includes an IFPRU 730k firm that is a significant IFPRU firm or does not include an IFPRU 730k firm

30 June 2015

Every two years on the same date as the first reporting reference date.

significant IFPRU firm

30 June 2015

Every two years on the same date as the first reporting reference date.

firm or qualifying parent undertaking in an RRD group that includes an IFPRU 730k firm that is not a significant IFPRU firm (but does not include an IFPRU 730k firm that is a significant IFPRU firm)

31 December 2015

Every three years on the same date as the first reporting reference date.

non-significant IFPRU firm

31 December 2015

Every three years on the same date as the first reporting reference date.

[Note: articles4 4(1)(b), 11(1) and 13(1) of RRD]

SUP 16.20.5RRP
Where an RRD institution is authorised or an RRD group is created after the first reporting reference date that would have applied to that firm or qualifying parent undertaking in line with SUP 16.20.2 R and SUP 16.20.4 R, the firm or qualifying parent undertaking must: (1) send its first recovery plan or group recovery plan and resolution plan information within three months of the first quarter end date which falls after six months of the date of the authorisation of the RRD
IFPRU 11.6.1RRP
This section applies to:(1) an IFPRU 730k firm that is not subject to supervision on a consolidated basis; (2) a firm that is an RRD group member; (3) a qualifying parent undertaking that is an RRD group member; and(4) a qualifying parent undertaking that is: (a) a mixed activity holding company of an IFPRU 730k firm; and(b) does not hold an RRD institution using an intermediate financial holding company or mixed financial holding company.
IFPRU 11.7.1RRP
This section applies to: (1) an IFPRU 730k firm that is not subject to supervision on a consolidated basis; (2) a firm that is an RRD group member; (3) a qualifying parent undertaking that is an RRD group member; and(4) a qualifying parent undertaking that is a mixed activity holding company of an IFPRU 730k firm.
IFPRU 11.4.1RRP
This section applies to: (1) an IFPRU 730k firm that is not subject to supervision on a consolidated basis;(2) a firm that is the EEA parent undertaking of an RRD group;(3) a qualifying parent undertaking that is the EEA parent undertaking of an RRD group; and(4) an IFPRU 730k firm that is the subsidiary of the EEA parent undertaking of an RRD group: (a) where the EEA parent undertaking is an EEA parent financial holding company or an EEA parent mixed financial holding company