Prudential Regulation Authority Rulebook

1.1

Unless otherwise stated, this Part applies to:

1. (1) every CRR firm that:
1. (a1) on the firm’s last accounting reference date, had retail deposits equal to or greater than £50 billion on an individual basis; or
2. (a2) that has foreign assets equal to or greater £10 billion, as determined in accordance with 1.1A, on an individual basis;
3. (a) [deleted]
4. (b) [deleted]
5. (c) [deleted]
2. (1A) every CRR consolidation entity that:
1. (a) on the CRR consolidation entity’s last accounting reference date, had retail deposits equal to or greater than £50 billion;
2. (b) has foreign assets equal to or greater than £10 billion, as determined in accordance with 1.1A,
3. in each case, on the basis of its consolidated situation; and
4. (2) a ring-fenced body that is required to comply with Parts Two and Three of the CRR on a sub-consolidated basis and that:
1. (a) on its last accounting reference date, had retail deposits equal to or greater than £50 billion; or
2. (b) has foreign assets equal to or greater than £10 billion, as determined in accordance with 1.1A,
5. in each case, on an RFB sub-consolidated basis.

1.1A

The foreign assets thresholds referred to in 1.1 above are determined on the basis of the arithmetic mean of the value of foreign assets held as at the three most recent accounting reference dates of the firm or CRR consolidation entity (as applicable). If the firm or CRR consolidation entity has been in existence for less than three years, the period for the calculation is the period during which the firm or CRR consolidation entity has existed.

1.2

In this Part, the following definitions shall apply:

capital plan

means the plan described in Chapter 6.

deposit

has the meaning given in the Table of Part 2 of Annex II to Regulation (EU) No 1071/2013 of the European Central Bank of 24 September 2013 concerning the balance sheet of the monetary financial institutions sector as it had effect in EU law immediately before IP completion day.

foreign assets

means assets for which the counterparty is resident in a country or territory outside the UK that a firm is required to report on row 0050 of Annex X Template LV 44.00 of Chapter 6 of the Reporting (CRR) Part.

FPC

means the Financial Policy Committee of the Bank of England.

retail deposit

means deposits from “households” as defined in paragraph 42(f) of Part 1 of Annex V to the Reporting (CRR) Part.

1.3

Unless otherwise defined, any italicised expression used in this Part and in the CRR has the same meaning as in the CRR.