Application and Definitions

Part

Large Exposures

Chapter

Printed on: 04/11/2024

Rulebook at: 03/08/2015

1.1

This Part applies to every firm that is a CRR firm.

1.2

In this Part the following definitions shall apply:

means the sum of the following amounts for each member of the core UK group and the firm (the sub-group):

(a) for the ultimate parent undertaking of the sub-group, the amount calculated in accordance with Article 6 of the CRR (or other applicable prudential requirements);
(b) for any other member of the sub-group, the amount calculated in accordance with Article 6 of the CRR (or other applicable prudential requirements) less the book value of the sub-group's holdings of capital instruments in that member, to the extent not already deducted in calculations done in accordance with Article 6 of the CRR (or other applicable prudential requirements) for:

The deduction in (b) must be carried out separately for each type of capital instrument eligible as own funds.

has the meaning given to it in Article 389 of the CRR.

means all counterparties that:

(a) are listed in a firm's NCLEG non-trading book permission or NCLEG trading book permission; and
(b) in relation to a firm, satisfy the conditions in 2.1 or 2.2.

means the exemption in 2.1.

means a permission given by the PRA in respect of Article 400(2)(c) of the CRR to apply the NCLEG non-trading book exemption.

means the exemption in 2.2.

means a permission given by the PRA in respect of Article 400(2)(c) of the CRR to apply the NCLEG trading book exemption.

means the exemption in 3.1.

means a permission given by the PRA in respect of Article 400(2)(g) or (h) of the CRR to apply the sovereign large exposures exemption.

means the allocation in 2.2

1.3

Unless otherwise defined:

(1) any italicised expression used in this Part and in the CRR has the same meaning as in the CRR; and
(2) any italicised expression used in this Part and in the CRD has the same meaning as in the CRD.