DLG by default
- (a) (in a case in which the firm is the only UK ILAS BIPRU firm in its group) that person meets any of the following conditions for any part of that period:
- (ii) that person is committed to provide such support or would be committed to do so if that person were able to provide it; or
- (iii) the firm has reasonable grounds to believe that that person would supply such support if asked or would do so if it were able to provide it; or
- (v) the firm is committed to provide such support to that person or would be committed to do so if the firm were able to provide it; or
- (b) (in a case in which the firm is not the only UK ILAS BIPRU firm in its group):
- (ii) each person identified by applying the tests in (a) separately to the firm and to each of those other UK ILAS BIPRU firms, so that applying (b) to the firm and to each of those UK ILAS BIPRU firms results in their having the same defined liquidity group;72
- (c) A person is not a member of a firm's DLG by default unless it also satisfies one of the following conditions:
- 66(ca) In the case of a group liquidity reporting firm that is within paragraph (a) of the definition of UK lead regulated firm (it is not part of a group that is subject to consolidated supervision by the
or any other regulatory body), paragraph (c)(i) of the definition of DLG by default is amended so that it only includes a member of the firm's group that falls into one of the following categories:
- (i) it is a credit institution; or
- (iii) credit institution has the meaning used in SUP 16 (Reporting requirements), namely either of the following:
- (A) a credit institution authorised under the Banking Consolidation Directive; or
- (iv) a person is authorised to deal on own account if:
- (C) (if the carrying on of that activity is prohibited in a state or territory without an authorisation in that state or territory) that person has such an authorisation.
- (d) Group has the meaning in paragraph (1) of the definition in the Glossary (the definition in section 421 of the Act).
- (e) The conditions in (a) are satisfied even if the firm or person in question provides or is committed or expected to provide support for only part of the period.
- (f) In deciding for the purpose of (a) or (b) whether the firm is the only UK ILAS BIPRU firm in its group and identifying which are the other UK ILAS BIPRU firms in its group, any group member that is a member of the group through no more than a participation is ignored.
- (h) Liquidity support may be supplied by or to the firm directly or indirectly.
57(in relation to a UK ILAS BIPRU firm (a group liquidity reporting firm) and any reporting period under SUP 16 (Reporting requirements)) the firm and each person identified in accordance with the following:
The following provisions also apply for the purpose of this definition.