Related provisions for IPRU-INV 13.1.4
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Except where a rule in GENPRU or BIPRU makes a14 different provision, GENPRU 1.3.4 R applies whenever a rule in GENPRU or BIPRU14 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, equity
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
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.
(1) 8The resources of A must be appropriate in relation to the regulated activities that A carries on or seeks to carry on.(2) The matters which are relevant in determining whether A has appropriate resources include-(a) the nature and scale of the business carried on, or to be carried on, by A;(b) the risks to the continuity of the services provided by, or to be provided by, A; and(c) A’s membership of a group and any effect which that membership may have.(3) Except in a case
INSPRU 3.1 addresses the impact of market risk on insurance business in the ways set out below:(1) Any firm that carries on long-term insurance business is required8 to hold capital to cover market risk. INSPRU 3.1.26R makes particular provision for assets invested outside the UK.82(2) Firms carrying on long-term insurance business that have property-linked liabilities or index-linked liabilities must cover these liabilities by holding appropriate assets. INSPRU 3.1.57R and INSPRU
(1) A CAD Article 22 group means a UK consolidation group or non-UK sub-group3 that meets the conditions in this rule.(2) There must be no bank, building society or2credit institution2 in the UK consolidation group or non-UK sub-group3 and any investment firm in the UK consolidation group or non-UK sub-group3 must not be subject to consolidated supervision under the UK CRR3.112(3) Each CAD investment firm in the UK consolidation group or UK sub-group3 must use the definition
2The strategies, policies, processes and systems referred to in BIPRU 12.3.4 R should include those which enable it to assess and maintain on an ongoing basis the amounts, types and distribution of liquidity resources that it considers adequate to cover:(1) the nature and level of the liquidity risk to which it is or might be exposed;(2) the risk that the firm cannot meet its liabilities as they fall due; and(3) in the case of an ILAS BIPRU firm, the risk that its liquidity resources
A firm must disclose the following information regarding the scope of application of the requirements of GENPRU and BIPRU7:(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) any current
The appropriate authority2 will not decide whether to confirm the transfer or amalgamation at the hearing. A copy of its written decision, including its findings on the points made in representations, will be sent to the society(ies) and to those making representations. It will also be available to any other person on request and may be published.2