IFPRU Sch 2 Notification and reporting requirements

(1)

The aim of the guidance in the following table is to give the reader a quick overall view of the relevant notification requirements.

(2)

It is not a complete statement of those requirements and should not be relied on as if it were.

(3)

Table

Handbook reference

Matter to be notified

Contents of notification

Trigger event

Time allowed

IFPRU 1.3.1 R

Results of calculations for supervisory benchmarking of internal approaches

Results of the calculations of a firm'sinternal approaches for its exposures or positions included in benchmark portfolios and an explanation of the methodologies uses

Calculation of the results of its internal approaches

Annually

IFPRU 1.5.1 R

Notification of FINREP reporting

Matters as described in IFPRU 1.5.1 R

Matters as described in IFPRU 1.5.1 R

No later than five business days from when an IFPRU investment firm identifies that it is a FINREP firm that is required to report FINREP or that is no longer required to submit FINREP.

IFPRU 2.2.31R

Changes to evaluation as a result of change in interest rates

Decline in economic value of the firm by more than 20% of its own funds

Change in interest rates

Not specified

IFPRU 2.2.37R(6)

Results of stress test and scenario analysis

Results of stress test and scenario analysis

Completion of stress test and scenario analysis

Annually, not later than three months of its annual reporting date

IFPRU 3.2.6 R

Intention to enter into a connected transaction

Fact of intention and details of each connected transaction sufficient to allow evaluation

Intention to enter into a connected transaction

At least one month prior to entry into the relevant transaction

IFPRU 3.2.8 R

Additional tier 1 instrument or tier 2 instrument governed by the law of third country are capable of being written down or converted into common equity tier 1 instrument

Information sufficient to demonstrate that any additional tier 1 instrument or tier 2 instrument issued by the firm that are governed by the law of third country are capable of being written down or converted into common equity tier 1 instrument to the same extent as an equivalent own funds instrument, including a properly reasoned legal opinion from an individual appropriately qualified in the relevant third country

Intention to issue

Not specified

IFPRU 3.2.10 R

Intention by firm or member of its group to issue a capital instrument, other than common equity tier 1 capital, for inclusion in own funds

Fact of intention and information in IFPRU 3.2.12 R, eg, details of intended amount, issue date, type of investor, stage of capital, features of instrument and confirmation of compliance with the conditions for qualification as own funds

Intention to issue

One month prior to issue

IFPRU 3.2.13 R

Intention by firm or member of its group to issue ordinary shares or debt instrument issued under a debt securities programme previously issued

Confirmation that terms of the capital instrument have not changed since the previous issue of that type of capital instrument and information in IFPRU IFPRU 3.2.12 R (1) and (3), eg, details of intended amount, issue date, type of investor, stage of capital, features of instrument and confirmation of compliance with the conditions for qualification as own funds

Intention to issue

No later than the date of issue

IFPRU 3.2.15 R

Proposed changes to details of the issue of a capital instrument notified

Proposed change to intended date of issue, amount of issue, type of investors, type of own funds or other feature

Intention to change any details of the issue previously notified to the FCA

As soon as changes are proposed

IFPRU 3.2.16 R

Intention by firm or member of its group member to amend or vary details of a capital instrument included in own funds or consolidated own funds

Proposed change and all information required under IFPRU 3.2.12 R (1) to IFPRU 3.2.12 R (4)

Intention to change any details of the issue previously notified to the FCA

One month prior to intended date of amendment

IFPRU 3.2.17 R

Intention by firm or member of its group member to reduce own funds or consolidated own funds

Actions described in article 77 of the EU CRR

Intention to carry out the actions described in article 77 of the EU CRR

As soon as intention is formed

IFPRU 4.12.1 R

Reliance on deemed transfer of significant risk under articles 243(2) and 244(2) of the EU CRR, including for the purposes of article 337(5) of the EU CRR

Sufficient information to allow the FCA to assess whether the possible reduction in risk-weighted2exposure amounts achieved by the securitisation is justified by a commensurate transfer of credit risk to third parties

2

Intention to rely on deemed transfer of significant risk

Within a reasonable period before or after a relevant transfer, not being later than one month after the date of transfer

IFPRU 8.2.5 G IFPRU 8.2.5R(4)

Intention to concentrate intra-group exposures to group members in excess of 25% of core UK group eligible capital

Explanation of how IFPRU 8.2.5R(1) is met on a continuing basis and details of the counterparty, the size and expected duration of the exposure

Intention to concentrate intra-group exposures to group members in excess of 25% of core UK group eligible capital

Prior written notice before the exposures are concentrated

IFPRU 8.2.5R(6)

After ceasing to have concentration intra-group exposures in excess of 25% of core UK group eligible capital, intention to start to do so again

Explanation of how IFPRU 8.2.5R(1) is met on a continuing basis, details of the counterparty, the size and expected duration of the exposure and the reason for the exposure

Intention to start to concentrate intra-group exposures to group members in excess of 25% of core UK group eligible capital

Prior written notice before the start of concentrating exposures again1

1 IFPRU 10.4.3 R (2)

Failure to meet the combined buffer

Failure to meet the combined buffer

Failure to meet the combined buffer

No later than five business days from when it identified its failure

1 IFPRU 10.4.3 R (9)

Intention to distribute any distributable profits or undertake any action under IFPRU 10.4.3 R (2)

Matters described in IFPRU 10.4.3 R (9)(a) to (d)

Intention to distribute any distributable profits or undertake any of the specified action

Not less than one month before intended date of distribution or action

1 IFPRU 10.5.2 R

Capital conservation plan

Capital conservation plan

Failure to meet the combined buffer

No later than five business days from when it identified its failure 3

3 IFPRU 11.2.15 R

Recovery plan actions

A decision to take an action referred to in a recovery plan or a decision not to take action

The decision to take action or not to take action

Without delay

3 IFPRU 11.3.17 R

Group recovery plan actions

A decision to take an action referred to in a group recovery plan or a decision not to take action

The decision to take action or not to take action

Without delay

3 IFPRU 11.4.4 R

Resolution plan information

The change to the information in IFPRU Annex 2R (Resolution plan information)

A change to the legal or organisational structure of the firm or group, its business or its financial situation, which could materially affect the information in IFPRU Annex 2R (Resolution plan information)

Without delay

3 IFPRU 11.5.18 R

Giving group financial support using an RRD group financial support agreement

The reasoned decision of the management body in line with IFPRU 11.5.16 R and the details of the proposed financial support including a copy of the RRD group financial support agreement

An intention to provide group financial support using an RRD group financial support agreement

Before providing the support

3 IFPRU 11.5.21 R

Giving group financial support using an RRD group financial support agreement

The decision of the management body of the RRD institution to give financial support

The decision to give financial support

Not specified

3 IFPRU 11.7.2 R , and IFPRU 11.7.3 R

Resolution notifications

Matters described in IFPRU 11.7.2 R and IFPRU 11.7.3 R

The occurrence of the situations described in IFPRU 11.7.2 R, or IFPRU 11.7.3 R

Immediately on the occurrence of the situations described in IFPRU 11.7.2 R or IFPRU 11.7.3 R