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FCA Handbook
BIPRU
BIPRU 8
BIPRU 8.9A Consolidated large exposure requirement...

BIPRU 8.9A Consolidated large exposure requirements

Integrated groups: core UK group and non-core large exposures group

BIPRU 8.9A.1R31/12/2010

(1)
1BIPRU 10 (Large exposures) applies to a firm's UK consolidation group or (subject to (2)) non-EEA sub-group as if it were a single undertaking.
(2)
A firm may exempt the exposures of its non-EEA sub-group to its core concentration risk group counterparty or non-core concentration risk group counterparty from the limits in BIPRU 10.5 (Limits on exposures) that apply to the non-EEA sub-group on a sub-consolidated basis.

BIPRU 8.9A.2G31/12/2010

The effect of BIPRU 8.9A.1R (2) is that there is no limit on a sub-consolidated basis for exposures of a firm's non-EEA sub-group to its core concentration risk group counterparty or non-core concentration risk group counterparty. This is because those exposures are included in the large exposure limits that apply to the firm's UK consolidation group.

BIPRU 8.9A.3R31/12/2010

In relation to a firm, intra-group exposures that are exempt under a non-core large exposures group waiver may be excluded when calculating the limits in BIPRU 10.5 (Limits on exposures) that apply to the UK consolidation group or non-EEA sub-group, provided that the total amount of such exposures and the other exposures which are exempt under a non-core large exposures group waiver do not exceed the limit in BIPRU 10.9A.7 R (Non-trading book backstop large exposure limit for non-core large exposures group).