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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.

market liquidity stress

    65(in relation to a firm and any reporting obligations under SUP 16 (Reporting requirements)):

      1. (a) (in the case of reporting obligations on a solo basis) any market that is of material significance to the firm being materially adversely affected by crystallised liquidity risk or a substantial number of participants in any such market being materially adversely affected by crystallised liquidity risk, whether or not the firm itself is so affected;
      1. (b) (in the case of reporting obligations with respect to the firm and a group of other persons) has the same meaning as in (a) except that references to the firm are to the firm and that group considered together;
      1. (c) (in the case of reporting obligations with respect to a firm's UK branch) has the same meaning as in (a) except that references to the firm are to that branch.