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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.

You are viewing the version of the document as on 2016-10-03.

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.

near cash

    money, deposits or investments which, in each case, fall within any of the following:

      1. (a) money which is deposited with an eligible institution or an approved bank in:
        1. (i) a current account; or
        1. (ii) a deposit account, if the money can be withdrawn immediately and without payment of a penalty exceeding seven days' interest calculated at ordinary commercial rates;
      1. (b) certificates of deposit issued by an eligible institution or an approved bank if immediately redeemable at the option of the holder;
      1. (c) government and public securities , if redeemable at the option of the holder or bound to be redeemed within two years;
      1. (d) bills of exchange which are government and public securities;
      1. (e) deposits with a local authority of a kind which fall within paragraph 9 of Part II of the First Schedule to the Trustee Investments Act 1961, and equivalent deposits with any local authority in another EEA State , if the money can be withdrawn immediately and without payment of a penalty as described in (a).25