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BIPRU TP 24 Mid market valuations

1Application

24.1

R

This section applies to a BIPRU firm.

Duration of transitional

24.2

R

This section applies until 1 January 2008.

Transitional rule

24.3

R

When marking to market (see GENPRU 1.3.14 R to GENPRU 1.3.16 R (General requirements: Marking to market)) for the purposes of valuing a trading book item for the purpose of BIPRU 14 (Capital requirements for settlement and counterparty risk), a firm may choose between using the mid market value and the more prudent side of bid/offer whether or not the firm is a significant market maker in the item concerned. A firm must be consistent in the basis it chooses.