GENPRU TP 7 Pillar 3 capital resources

1Application

7.1

R

This section applies to a BIPRU firm.

Purpose

7.2

G

This section implements Article 154(4) of the Banking Consolidation Directive.

Duration

7.3

R

This section applies until 31 December 2012.

Transitional provision

7.4

R

A firm may elect not to apply GENPRU 2.2.239 R (2) to (4) (50:50 split between deductions from tier one capital and tier two capital) to material insurance holdings acquired before 20 July 2006. If a firm elects not to apply GENPRU 2.2.239 R (2) to (4), the firm must deduct such material insurance holdings from the total of tier one capital and tier two capital.2