Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.


Status: This chapter was amended on 31 December 2020 as a result of Brexit. However, it is subject to the FCA Prudential Transitional Direction, which means that firms should not comply with these provisions yet. Instead, firms must follow this link and continue to comply with pre-IP completion day requirements https://www.handbook.fca.org.uk/handbook?date=31-12-2020&timeline=True (unless specified otherwise in the Direction). To see a full list of Handbook modules affected, please see Section B of the Annex to the Direction.

BIPRU 11.1 Application and purpose

Application

BIPRU 11.1.1RRP

1BIPRU 11 applies to a BIPRU firm.

Purpose

BIPRU 11.1.2GRP

Pursuant to the third paragraph of article 95(2) of the UK CRR3, the2 purpose of BIPRU 11 is to apply requirements that correspond to:3

2
  1. (1)
    1. (a)

      Article 68(3);

    2. (b)

      Article 72;

    3. (c)

      Articles 145 to 149; and

    4. (d)

      Annex XII;

    of the Banking Consolidation Directive; and

  2. (2)
    1. (a)

      Article 2, in part;

    2. (b)

      Point 3 of Article 23, in part; and

    3. (c)

      Article 39;

    of the Capital Adequacy Directive.