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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.


You are viewing the version of the document as on 2012-12-13.

Status: In this content, we have included all amendments made by EU exit-related instruments up to end September 2020. There will be more amendments to be made later this year, further to the September QCP.

GENPRU TP 8B Miscellaneous capital resources definitions for BIPRU firms: Core tier one capital

1Application

8B.1

R

This section applies to a BIPRU firm.

Core tier one capital

8B.2

R

A provision in this section applies on a consolidated basis for the purposes of BIPRU 8 (Group risk - consolidation) to a UK consolidation group to the extent that, and in the same manner that, the provision in GENPRU to which it relates applies on a consolidated basis.

8B.3

R

The Royal Bank of Scotland plc may treat a share falling within GENPRU TP 8B.4R as eligible for inclusion within stage A of the capital resources table (Core tier one capital) if it would not otherwise be eligible provided that:

(1)

the share:

(a)

had been issued on or before 30 December 2010; or

(b)

if issued after that date, is issued pursuant to a contractual obligation requiring its issue entered into on or before 30 December 2010;

(2)

as at 30 December 2010 The Royal Bank of Scotland plc was entitled (or would have been entitled, had the share then been issued) to include it in the calculation of its capital resources under GENPRU as permanent share capital and, in the case of a share which had been issued as at that date, did so include it; and

(3)

the share is held by or on behalf of the Government of the United Kingdom.

8B.4

R

The shares referred to in GENPRU TP 8B.3R are as follows:

(1)

The Royal Bank of Scotland Group plc Series 1 Class B Shares of 1p each; and

(2)

The Royal Bank of Scotland Group plc Series 1 Dividend Access Share of 1p;

either as separate instruments or considered together as connected instruments

Voting rights

8B.5

R

A BIPRU firm may treat an ordinary share that has different voting rights to other ordinary shares issued by the firm as eligible for inclusion within stage A of the capital resources table (Core tier one capital) without making a notification of issue or change in voting rights to the FSA under GENPRU 2.2.83B R if:

(1)

on 30 December 2010 the firm was subject to GENPRU;

(2)

the firm issued the ordinary share on or before 30 December 2010 and the shareholders were bound by the differences in voting rights on or before 30 December 2010; and

(3)

as at 30 December 2010 the firm included the ordinary share, and was entitled to include it, in the calculation of capital resources under GENPRU as permanent share capital;

provided that by 30 June 2011 the firm provides the FSA with full details of the ordinary shares, their terms of issue and the differences in voting rights applicable to those ordinary shares.