Related provisions for GENPRU 2.2.241

GENPRU 2.2.4G01/01/2014

This section also implements minimum EC standards for the composition of capital resources required to be held by a BIPRU firm. In particular it implements the third paragraph of article 95(2) of the EU CRR, applying16 Articles 56 – 61, Articles 63 – 64, Article 66 and Articles 120 – 122 of the Banking Consolidation Directive (2006/48/EC) and Articles 12 – 16, Article 17 (in part), Article 22(1)(c) (in part) and paragraphs 13 - 15 of Part B of Annex VII of the Capital Adequacy

GENPRU 2.2.6G04/11/2016

This table belongs to GENPRU 2.2.5 G

Topic	Location of text
Application and purpose of the rules in this section	GENPRU 2.2.1 R to GENPRU 2.2.4 G
BIPRU firms that only have simple types of capital resources (simple capital issuers)	GENPRU 2.2.7 G
Principles underlying the definition of capital resources	GENPRU 2.2.8 G
Which method of calculating capital resources applies to which type of firm	GENPRU 2.2.17 R to GENPRU 2.2.19 R
Purpose of the limits on the use of different forms of capital	GENPRU 2.2.24 G
Use of higher tier capital in lower tiers	GENPRU 2.2.25 R to GENPRU 2.2.28 R
Calculation of capital resources for BIPRU firms 16 16	GENPRU 2.2.20 G to GENPRU 2.2.21 G; GENPRU 2 Annex 4 to GENPRU 2 Annex 6
Limits on the use of different forms of capital for BIPRU firms 16 (certain types of capital resources cannot be used for certain purposes) 16	GENPRU 2.2.44 R8 to GENPRU 2.2.45 R; GENPRU 2.2.47 R to GENPRU 2.2.48 R 8
Limits on the use of different forms of capital for BIPRU firms 16 (capital resources gearing rules) 16	GENPRU 2.2.29 R to GENPRU 2.2.31 G; GENPRU 2.2.46 R; GENPRU 2.2.50 R
Example of how the capital resources calculation for BIPRU firms works	GENPRU 2.2.51 G to GENPRU 2.2.59 G
Capital used to meet the base capital resources requirement for BIPRU firms	GENPRU 2.2.60 R to GENPRU 2.2.61 G12
12Notification of issuance of capital instruments.	GENPRU 2.2.61A R to GENPRU 2.2.61H G
Tier one capital instruments: general	GENPRU 2.2.9 G to GENPRU 2.2.10 G; GENPRU 2.2.62 R to GENPRU 2.2.69 G; GENPRU 2.2.80 R to GENPRU 2.2.82 G
8 Tier one capital: payment of coupons (BIPRU firm only)	GENPRU 2.2.69A R to GENPRU 2.2.69F G
Core tier one capital: permanent share capital	GENPRU 2.2.83 R to 10GENPRU 2.2.84A G10
10General conditions for eligibility of capital instruments as core tier one capital (BIPRU firm only)	GENPRU 2.2.83A R to GENPRU 2.2.83D G; GENPRU 2.2.84A G
10 Core tier one capital: exception to eligibility criteria (building societies only)	GENPRU 2.2.83E R to GENPRU 2.2.83H G
Core tier one capital: profit and loss account and other reserves: material applicable to all firms	GENPRU 2.2.85 R; GENPRU 2.2.87 R to GENPRU 2.2.89 G; GENPRU 2.2.91 G
Core tier one capital: profit and loss account and other reserves: material specific to BIPRU firms	GENPRU 2.2.86 R; GENPRU 2.2.90 R; GENPRU 2.2.92 G
Core tier one capital: provisions relating to partnerships and limited liability partnerships	GENPRU 2.2.93 R to GENPRU 2.2.100 R
Core tier one capital: share premium account	GENPRU 2.2.101 R
Core tier one capital: externally verified interim net profits	GENPRU 2.2.102 R to GENPRU 2.2.103 G
8 Hybrid capital (excluding issues through SPVs) (BIPRU firm only)	GENPRU 2.2.115A R to GENPRU 2.2.119 G
Hybrid capital 8 (issues through SPVs) (BIPRU firm only)8 8	GENPRU 2.2.123 R to GENPRU 2.2.137 R
Tier one capital: conversion ratio	GENPRU 2.2.138 R to GENPRU 2.2.144 G
Tier one capital: requirement to have sufficient unissued stock	GENPRU 2.2.145 R
Deductions from tier one capital resources	GENPRU 2.2.155 R to GENPRU 2.2.156 G
Tier two capital	GENPRU 2.2.11 G; GENPRU 2.2.157 G to GENPRU 2.2.197 G
Deductions from tier one capital resources and tier two capital resources	16GENPRU 2.2.208 R to GENPRU 2.1.216G; GENPRU 2.2.217 R to GENPRU 2.2.220 R; GENPRU 2.2.236 R16 to GENPRU 2.2.240 G
Tier three capital	GENPRU 2.2.12 G; GENPRU 2.2.241 R to GENPRU 2.2.249 R
Deductions from total capital resources	GENPRU 2.2.14 G to GENPRU 2.2.16 G; GENPRU 2.2.259 R to GENPRU 2.2.62 R16 16
The effect of swaps	GENPRU 2.2.198 R to GENPRU 2.2.201 R
Step-ups (tier one capital 21 and tier two capital)	21GENPRU 2.2.146 R to GENPRU 2.2.154 G
Redemption of tier one instruments	GENPRU 2.2.64R (3); GENPRU 2.2.70 R to GENPRU 2.2.79 G
8Purchases of tier one instruments: BIPRU firm only	GENPRU 2.2.79A R to GENPRU 2.2.79H G; GENPRU 2.2.79L G10
Redemption of tier two instruments	GENPRU 2.2.172 R to GENPRU 2.2.174 R; GENPRU 2.2.177 R to GENPRU 2.2.178 R (upper tier two instruments); GENPRU 2.2.194 R to GENPRU 2.2.197 G (lower tier two instruments)
Non-standard capital instruments	GENPRU 2.2.13 G
Standard form documentation for subordinated debt	GENPRU 2.2.164 G
Public sector guarantees	GENPRU 2.2.276 R16
18	18 16 16

GENPRU 2.2.7G01/01/2014

Parts of this section are irrelevant to a BIPRU firm whose capital resources consist of straightforward capital instruments. 242

GENPRU 2.2.9G31/12/2010

Tier one capital typically has the following characteristics:(1) it is able to absorb losses;(2) it is permanent or (in the case of a BIPRU firm) available when required;8(3) it ranks for repayment upon winding up, administration or similar procedure after all other debts and liabilities; and(4) it has no fixed costs, that is, there is no inescapable obligation to pay dividends or interest.

GENPRU 2.2.11G31/12/2006

Tier two capital includes forms of capital that do not meet the requirements for permanency and absence of fixed servicing costs that apply to tier one capital. Tier two capital includes, for example:(1) capital which is perpetual (that is, has no fixed term) but cumulative (that is, servicing costs cannot be waived at the issuer's option, although they may be deferred – for example, cumulative preference shares); only perpetual capital instruments may be included in upper tier

GENPRU 2.2.18R01/01/2014

In the case of a BIPRU firm the capital resources table also sets out how the capital resources requirement is deducted from capital resources in order to decide whether its capital resources equal or exceed its capital resources requirement.

GENPRU 2.2.20G01/01/2014

GENPRU 2.2.19 R sets out three different methods of calculating capital resources for BIPRU firms16. The differences between the three methods relate to whether and how material holdings and illiquid assets are deducted when calculating capital resources. The method depends on whether a firm has an investment firm consolidation waiver. If a firm does have such a waiver, it should deduct illiquid assets, own groupmaterial holdings and certain contingent liabilities. If a firm does

GENPRU 2.2.26AR31/12/2010

8A dated item of tier one capital which is included in a BIPRU firm'stier two capital resources under GENPRU 2.2.25 R is not subject to the requirement to have no fixed maturity date in GENPRU 2.2.177R (1).

GENPRU 2.2.44R01/01/2014

Tier one capital and tier two capital are the only type of capital resources that a BIPRU firm may use for the purpose of meeting:(1) the credit risk capital component;(2) [deleted] 1616(3) the counterparty risk capital component; and(4) the base capital resources requirement.

GENPRU 2.2.45R01/01/2014

GENPRU 2.2.44 R (and the capital resources gearing rules that relate to it) also applies for the purposes of any other requirement in the Handbook for which it is necessary to calculate the capital resources of a BIPRU firm, except for the purposes described in GENPRU 2.2.47 R and except as may otherwise be stated in the relevant part of the Handbook.

GENPRU 2.2.46R01/01/2014

For the purpose of GENPRU 2.2.44 R:(1) the amount of the items which may be included in a BIPRU firm'stier two capital resources must not exceed the amount calculated at stage F of the calculation in the capital resources table (Total tier one capital after deductions); and(2) the amount of the items which may be included in a BIPRU firm'slower tier two capital resources must not exceed 50% of the amount calculated at stage F of the calculation in the capital resources table.

GENPRU 2.2.47R23/03/2018

For the purposes of meeting:(1) the market risk capital requirement; and22(2) [deleted]22(3) the fixed overheads requirement ;16a BIPRU firm may only use the following parts of its capital resources:(4) tier one capital to the extent that it is not required to meet the requirements in GENPRU 2.2.44 R (GENPRU 2.2.48 R explains how to calculate how much tier one capital is required to meet the requirements in GENPRU 2.2.44 R);(5) tier two capital to the extent that it:(a) comes

GENPRU 2.2.49R01/01/2014

For the purpose of meeting the requirements in GENPRU 2.2.47R (1) to GENPRU 2.2.47R (3) and subject to GENPRU 2.2.50 R, a BIPRU firm must not include any item in either:(1) its tier two capital resources falling within GENPRU 2.2.47R (6) (excess tier two capital); or(2) its upper tier three capital resources;to the extent that the sum of (1) and (2) would exceed 250% of the amount resulting from the following calculation:(3) calculate the amount at stage F of the calculation in

GENPRU 2.2.50R01/01/2014

In relation to a BIPRU firm16 which calculates its capital resources under GENPRU 2 Annex 4 (Capital resources table for a BIPRU investment firm deducting material holdings), the figure of 200% replaces that of 250% in GENPRU 2.2.49 R.16

GENPRU 2.2.52G01/01/2014

This table belongs to GENPRU 2.2.51 G

Description of the stage of the capital resources calculation	Stage in the capital resources table	Amount (£)
Total tier one capital after deductions 8	Stage F	80
Total tier two capital 8	Stage K	80
Deductions	Stage M	(20)
Total tier one capital and tier two capital after deductions	Stage N	140
Upper tier three capital (this example assumes the firm has no lower tier three capital (trading book profits))	Stage Q	50
Total capital resources	Stage T	190

GENPRU 2.2.56G01/01/2014

This table belongs to GENPRU 2.2.55 G

Description of the stage of the capital resources calculation	Stage in the capital resources table	Amount (£)
Total tier one capital and tier two capital after deductions	Stage N	140
Credit and counterparty1 risk requirement 16		(100)
Tier one capital and tier two capital available to meet market risk requirement		40
Tier three capital	Stage Q	50
Total capital available to meet market risk requirement		90
Market risk requirement		(90)
Market risk requirement met subject to meeting gearing limit set out in GENPRU 2.2.49 R – see GENPRU 2.2.57 G

GENPRU 2.2.60R01/01/2014

A BIPRU firm may use the capital resources used to meet the base capital resources requirement to meet any other part of the capital resources requirement.

GENPRU 2.2.61HG01/01/2016

12Details of the notification to be provided by a BIPRU firm in relation to capital instruments issued by another undertaking in its group for inclusion in its capital resources or the consolidated capital resources of its UK consolidation group or non-EEA sub-group are set out in BIPRU 8.6.1A R to BIPRU 8.6.1F R. 17

GENPRU 2.2.68AR01/01/2014

8A BIPRU firm must not include a capital instrument in its tier one capital resources if:(1) the capital instrument is affected by a dividend stopper; and (2) the dividend stopper operates in a way that hinders recapitalisation.

GENPRU 2.2.69DG07/03/2016

8The FCA18 considers that a BIPRU firm's financial resources are not preserved under GENPRU 2.2.69CR (2) unless, among other things, the conditions of the substituted payment are that:(1) there is no decrease in the amount of the firm'score tier one capital;(2) the deferred coupon is satisfied without delay using newly issued core tier one capital that has an aggregate fair value no more than the amount of the coupon;(3) the firm is not obliged to find new investors for the newly

GENPRU 2.2.69ER01/01/2014

8A BIPRU firm must cancel the payment of a coupon if circumstances arise whereby the payment of the coupon by newly issued instruments, in accordance with GENPRU 2.2.64R (4)(b), does not comply with the requirements of GENPRU 2.2.69C R.

GENPRU 2.2.69FG07/03/2016

(1) 8In relation to the cancellation or deferral of the payment of a coupon in accordance with GENPRU 2.2.64R (4) and GENPRU 2.2.64R (5), GENPRU 2.2.68A R, or GENPRU 2.2.69B R, the FCA18 expects that situations where a coupon may need to be cancelled or deferred will be resolved through analysis and discussion between the firm and the FCA18. If the FCA18 and the firm do not agree on the cancellation or deferral of the payment of a coupon, then the FCA18 may consider using its

GENPRU 2.2.74R07/03/2016

A firm must not redeem any tier one instrument that it has included in its tier one capital resources unless it has notified the FCA18 of its intention at least one month before it becomes committed to do so. When giving notice, the firm must provide details of its position after such redemption in order to show how it will:77(1) meet its capital resources requirement;78(2) 7have sufficient financial resources to meet the overall financial adequacy rule; and8(3) 8in the case

GENPRU 2.2.74BR01/01/2014

8If a BIPRU firm does not comply with its capital resources requirement or if the redemption of any dated tier one instrument would cause it to breach its capital resources requirement, it must suspend the redemption of its dated tier one instruments.

GENPRU 2.2.79GR07/03/2016

8A BIPRU firm must not purchase a tier one instrument in accordance with GENPRU 2.2.79A R unless it has notified the FCA18 of its intention at least one month before it becomes committed to doing so. When giving notice, the firm must provide details of its position after the purchase in order to show how, over an appropriate timescale, adequately stressed, and without planned recourse to the capital markets, it will:(1) meet its capital resources requirement; and(2) have sufficient

GENPRU 2.2.79IR07/03/2016

10A BIPRU firm must not announce to the holders of a tier one instrument its intention to purchase that instrument unless it has notified that intention to the FCA18 in accordance with GENPRU 2.2.79G R and it has not, during the period of one month from the date of giving notice, received an objection from the FCA18.

GENPRU 2.2.79JR01/01/2014

10If a BIPRU firm announces the purchase of any tier one instrument, the firm must no longer include that instrument in its tier one capital resources.

GENPRU 2.2.79KR01/01/2014

10If a BIPRU firm does not comply with its capital resources requirement, or if the purchase of any tier one instrument would cause it to breach its capital resources requirement, it must suspend the purchase of tier one instruments.

GENPRU 2.2.83R01/01/2014

Permanent share capital means an item of capital which (in addition to satisfying GENPRU 2.2.64 R) meets the following conditions:(1) it is:(a) an ordinary share; or(b) a members' contribution; or(c) part of the initial fund of a mutual; or8(d) [deleted]15815(2) any coupon on it is not cumulative, the firm is under no obligation to pay a coupon in any circumstances and the firm has the right to choose the amount of any coupon that it pays;10(3) the terms upon which it is issued

GENPRU 2.2.83AR01/01/2014

10The conditions that a BIPRU firm's permanent share capital must comply with under GENPRU 2.2.83AR (4) or that a BIPRU firm'seligible partnership capital or eligible LLP members' capital must comply with under GENPRU 2.2.95 R are as follows:(1) it is undated;(2) the terms upon which it is issued do not give the holder a preferential right to the payment of a coupon;(3) the terms upon which it is issued do not indicate the amount of any coupon that may be payable nor impose an

GENPRU 2.2.83BR07/03/2016

10A BIPRU firm must not include in stage A of the capital resources table different classes of the same share type (for example "A ordinary shares" and "B ordinary shares") that meet the conditions in GENPRU 2.2.83 R and GENPRU 2.2.83A R but have differences in voting rights, unless it has notified the FCA18 of its intention at least one month before the shares are issued or (in the case of existing issued shares) the differences in voting rights take effect.

GENPRU 2.2.83CR01/01/2014

10A BIPRU firm must not pay a coupon on a tier one instrument included in stage A of the capital resources table if it has no distributable reserves.

GENPRU 2.2.85R01/01/2014

(1) Negative amounts, including any interim net losses (but in the case of a BIPRU firm16, only material interim net losses), must be deducted from profit and loss account and other reserves.16(2) For these purposes material interim net losses mean unaudited interim losses arising from a firm'strading book and non-trading book business which exceed 10% of the sum of its capital resources calculated at stage A (Core tier one capital)8 in the capital resources table.8(3) If interim

GENPRU 2.2.86R01/01/2014

(1) This rule applies to trading book valuation adjustments or reserves referred to in GENPRU 1.3.29 R to 14GENPRU 1.3.35A G14 (Valuation adjustments and reserves). It applies to a BIPRU firm.(2) When valuation adjustments or reserves give rise to losses of the current financial year, a firm must treat them in accordance with GENPRU 2.2.85 R.(3) Valuation adjustments or reserves which exceed those made under the accounting framework to which a firm is subject must be treated in

GENPRU 2.2.90R01/01/2014

In the case of a BIPRU firm which is the originator of a securitisation, net gains arising from the capitalisation of future income from the securitised assets and providing credit enhancement to positions in the securitisation must be excluded from profit and loss account and other reserves.

GENPRU 2.2.93R01/01/2014

Eligible partnership capital means a partners' account:(1) into which capital contributed by the partners is paid; and(2) from which under the terms of the partnership agreement an amount representing capital may be withdrawn by a partner only if:(a) he ceases to be a partner and an equal amount is transferred to another such account by his former partners or any person replacing him as their partner;2(b) the partnership is wound up or2 otherwise dissolved; or22(c) the BIPRU firm

GENPRU 2.2.94R01/01/2014

Eligible LLP members' capital means a members' account:(1) into which capital contributed by the members is paid; and(2) from which under the terms of the limited liability partnership agreement an amount representing capital may be withdrawn by a member only if:(a) he ceases to be a member and an equal amount is transferred to another such account by his former fellow members or any person replacing him as a member; 2(b) the limited liability partnership is wound up or2 otherwise

GENPRU 2.2.95R01/01/2014

A BIPRU firm that is a partnership or a limited liability partnership may not include eligible partnership capital or eligible LLP members' capital in its tier one capital resources unless (in addition to GENPRU 2.2.62 R (General conditions relating to tier one capital)) it complies with GENPRU 2.2.83R (2) (10Coupons should not be cumulative or mandatory) and GENPRU 2.2.83A R to GENPRU 2.2.83C R (General conditions for eligibility of capital instruments as core tier one capital

GENPRU 2.2.97R01/01/2014

The items permanent share capital and share premium account (which form part of core tier one capital) do not apply to a BIPRU firm that is a partnership or a limited liability partnership.8

GENPRU 2.2.99G01/01/2014

A BIPRU firm that is a partnership or a limited liability partnership should include profit and loss (taking into account interim losses or material interim net losses) in its core tier one capital.

GENPRU 2.2.100R01/01/2014

A BIPRU firm which is a partnership or limited liability partnership must deduct at stage E of the calculation in the capital resources table (Deductions from tier one capital) the amount by which the aggregate of the amounts withdrawn by its partners or members exceeds the profits of that firm. Amounts of eligible partnership capital or eligible LLP members' capital repaid in accordance with GENPRU 2.2.93 R or GENPRU 2.2.94 R are not included in this calculation.

GENPRU 2.2.124R01/01/2014

(1) GENPRU 2.2.123 R - GENPRU 2.2.137 R apply to capital of a firm if:(a) either or both of the conditions in (2) are satisfied; and(b) any of the SPVs referred to in (2) is a subsidiary undertaking of the firm.(2) The conditions referred to in (1) are:(a) that capital is issued to an SPV; or(b) the subscription for the capital issued by the firm is funded directly or indirectly by an SPV.(3) A BIPRU firm may not include capital coming within this rule in its capital resources

GENPRU 2.2.147R31/12/2010

(1) A firm may not include in its tier one capital resources a tier one instrument that is or may be subject to a step-up that does not meet the definition of moderate in the press release of the Basle Committee on Banking Supervision of 27th October 1998 called "Instruments eligible for inclusion in Tier 1 capital".(2) For the purpose of (1) the words in that press release "than, at national supervisory discretion, either" are replaced by "than the higher of the following two

GENPRU 2.2.179G07/03/2016

(1) The purpose of GENPRU 2.2.177R (2) is to ensure that a firm which issues an item of capital with a coupon retains flexibility over the payments of such coupon and can preserve cash in times of financial stress. However, a firm may include, as part of the capital instrument terms, a right to make payments of a coupon mandatory if an item of capital becomes ineligible to form part of its capital resources (for example, through a change in the relevant rules) and the firm has

GENPRU 2.2.187R07/03/2016

A BIPRU firm which adopts the standardised approach to credit risk may include general/collective provisions in its tier two capital resources only if:(1) they are freely available to the firm;(2) their existence is disclosed in internal accounting records; and(3) their amount is determined by the management of the firm, verified by independent auditors and notified to the FCA18.

GENPRU 2.2.237R01/01/2014

A BIPRU firm calculating risk weighted exposure amounts under the IRB approach or the standardised approach to credit risk must deduct from its capital resources the following:1313(1) the exposure amount of securitisation positions which receive a risk weight of 1250% under BIPRU 9 (Securitisation), unless the firm includes the securitisation positions in its calculation of risk weighted exposure amounts (see BIPRU 9.10 (Reduction in risk-weighted exposure amounts)); and13(2)

GENPRU 2.2.239R01/01/2014

(1) The treatment in the capital resources table of the deductions in GENPRU 2.2.238 R only has effect for the purpose of the capital resources gearing rules.(2) In other cases (3) and (4) apply.(3) A BIPRU firm making the deductions described in GENPRU 2.2.238 R must deduct 50% of the total amount of those deductions at stage E (Deductions from tier one capital) and 50% at stage J (Deductions from tier two capital) of the calculation in the capital resources table after the application

GENPRU 2.2.242R01/01/2014

A BIPRU firm may include subordinated debt in its upper tier three capital resources only if:(1) it has an original maturity of at least two years or is subject to at least two years' notice of repayment; and(2) payment of interest or principal is permitted only if, after that payment, the firm'scapital resources would be not less than its capital resources requirement.

GENPRU 2.2.243R07/03/2016

A BIPRU firm which includes subordinated debt in its tier three capital resources must notify the FCA18 one month in advance of all payments of either interest or principal made when the firm'scapital resources are less than 120% of its capital resources requirement.

GENPRU 2.2.244R01/01/2014

The rules in the table in GENPRU 2.2.245 R apply to short term subordinated debt that a BIPRU firm includes in its tier three capital resources in the same way that they apply to a firm'stier two capital resources with the adjustments in that table.

GENPRU 2.2.246R01/01/2014

GENPRU 2.2.246 R to GENPRU 2.2.249 R only apply to a BIPRU firm.

GENPRU 2.2.265R01/01/2014

The standard market risk PRR rules apply for establishing what is a net position and the amount and value of that position for the purposes of GENPRU 2.2.264 R, ignoring rules which would otherwise exclude such positions from BIPRU 7.2 (Interest rate PRR) or BIPRU 7.3 (Equity PRR and basic interest rate PRR for equity derivatives) on the basis that they are to be deducted from a bank or building society'scapital resources, or for any other reason.

GENPRU 2.2.276R01/01/2014

A BIPRU firm may not include a guarantee from a state or public authority in its capital resources.

GENPRU 2.1.6G07/03/2016

Principle 4 requires a firm to maintain adequate financial resources. GENPRU 2 sets out provisions that deal specifically with the adequacy of that part of a firm's financial resources that consists of capital resources. The adequacy of a firm'scapital resources needs to be assessed both by that firm and the appropriate regulator. Through its rules, the FCA14 sets minimum capital resources requirements for firms. It also reviews a firm's own assessment of its capital needs,

GENPRU 2.1.7G07/03/2016

This section sets capital resources requirements for a firm. GENPRU 2.2 (Capital resources) sets out how, for the purpose of meeting capital resources requirements, the amounts or values of capital, assets and liabilities are to be determined. More detailed rules relating to capital, assets and liabilities are set out in GENPRU 1.3 (Valuation)14 and, for a BIPRU firm, BIPRU.

GENPRU 2.1.10G07/03/2016

For the purposes of GENPRU 2.1.9 R, a firm should have systems in place to enable it to be certain whether it has adequate capital resources to comply with14 the main BIPRU firm Pillar 1 rules14 at all times. This does not necessarily mean that a firm needs to measure the precise amount of its capital resources and its CRR on a daily basis. A firm should, however, be able to demonstrate the adequacy of its capital resources at any particular time if asked to do so by the FCA1

GENPRU 2.1.40R01/01/2014

A BIPRU firm must maintain at all times capital resources equal to or in excess of the amount specified in the table in GENPRU 2.1.45 R (Calculation of the variable capital requirement for a BIPRU firm).

GENPRU 2.1.41R01/01/2014

A BIPRU firm must maintain at all times capital resources equal to or in excess of the base capital resources requirement (see the table in GENPRU 2.1.48 R).

GENPRU 2.1.42R01/01/2014

At the time that it first becomes a BIPRU firm12, a firm must hold initial capital of not less than the base capital resources requirement applicable to that firm.12

GENPRU 2.1.43G01/01/2014

The purpose of the base capital resources requirement for a BIPRU firm is to act as a minimum capital requirement or floor. It has been written as a separate requirement as there are restrictions in GENPRU 2.2 (Capital resources) on the types of capital that a BIPRU firm may use to meet the base capital resources requirement which do not apply to some other parts of the capital requirement calculation. In order to preserve the base capital resources requirement's role as a floor

GENPRU 2.1.44G01/01/2013

The base capital resources requirement and the variable capital requirement in GENPRU 2.1.40 R are together called the capital resources requirement (CRR) in the case of a BIPRU firm.

GENPRU 2.1.47R01/01/2014

The amount of a BIPRU firm'sbase capital resources requirement is set out in the table in GENPRU 2.1.48 R.

GENPRU 2.1.48R01/01/2014

This table belongs to GENPRU 2.1.47 R

Firm category	Amount: Currency equivalent of12
BIPRU firm (but not a collective portfolio management investment firm)12 12	€50,00012

GENPRU 2.1.49G01/01/2014

The Capital Adequacy Directive sets out various categories of investment firms subject to differing levels of initial capital. For the purpose of the third paragraph of article 95(2) of the EU CRR, a BIPRU firm falls into the category in article 5(3) of the Capital Adequacy Directive. In summary, a BIPRU firm: 1212(1) does not provide the ancillary service of safekeeping and administration of financial instruments for the account of clients, including custodianship and related

GENPRU 2.1.52R01/01/2014

(1) A BIPRU firm must calculate its market risk capital requirement as the sum of:(a) the interest rate PRR (including the basic interest rate PRR for equity derivatives set out in BIPRU 7.3 (Equity PRR and basic interest rate PRR for equity derivatives));(b) the equity PRR;(c) the commodity PRR;(d) the foreign currency PRR;(e) the option PRR; and(f) the collective investment undertaking PRR.(2) Any amount calculated under BIPRU 7.1.9 R - BIPRU 7.1.13 R (Instruments for which

GENPRU 1.2.62G07/03/2016

Where a firm assesses the adequacy of its CRR in its particular circumstances in accordance with BIPRU 2.2 (Internal capital adequacy standards)15 as a basis for deciding what financial resources are adequate, it should include this in the documentation produced in accordance with GENPRU 1.2.60 R.

BIPRU 12.2.1R01/12/2009

(1) A firm must at all times maintain liquidity resources which are adequate, both as to amount and quality, to ensure that there is no significant risk that its liabilities cannot be met as they fall due.(2) For the purpose of (1):(a) a firm may not include liquidity resources that can be made available by other members of its group;(b) an incoming EEA firm or a third country BIPRU firm may not, in relation to its UK branch, include liquidity resources other than those which

SUP 16.12.16R01/09/2016

The applicable reporting frequencies for data items referred to in SUP 16.12.15 R2 are set out in the table below according to firm type. Reporting frequencies are calculated from a firm's accounting reference date, unless indicated otherwise.

45 Data item	Firms' prudential category
	IFPRU 730K firm	IFPRU 125K firm and collective portfolio management investment firm	IFPRU 50K firm	BIPRU firm	UK consolidation group or defined liquidity group	Firmother than BIPRU firms or IFPRU investment firms
COREP/FINREP	Refer to EU CRR and applicable technical standards				Refer to EU CRR and applicable technical standards
Solvency statement	Annually	Annually	Annually	Annually		Annually
FSA001	Quarterly	Quarterly	Half yearly	Half yearly	Half yearly
FSA002	Quarterly	Quarterly	Half yearly	Half yearly	Half yearly
FSA003				Half yearly	Half yearly
FSA004				Half yearly	Half yearly
FSA005				Half yearly	Half yearly
FSA006	Quarterly	Quarterly	Quarterly	Quarterly	Quarterly
FSA007				Annual (note 4)	Annual (note 4)
FSA016	Half yearly	Half yearly	Half yearly	Half yearly
FSA018	Quarterly	Quarterly	Quarterly
FSA019	Annually	Annually	Annually	Annually	Annually
FSA028				Half yearly
FSA029						Quarterly
FSA030						Quarterly
FSA031						Quarterly
FSA032						Quarterly
FSA033						Quarterly
FSA034						Quarterly
FSA035						Quarterly38
FSA038	Half yearly	Half yearly	Half yearly	Half yearly		Half yearly
FSA039	Half yearly	Half yearly	Half yearly	Half yearly		Half yearly

72		72				72
FSA045	Quarterly	Quarterly	Half yearly	Half yearly	Half yearly
FSA046				Quarterly	Quarterly
FSA047	Daily, weekly, monthly or quarterly (Notes 5, 6 and 8)				Daily, weekly, monthly or quarterly (Notes 5, 7 and 8)
FSA048	Daily, weekly, monthly or quarterly (Notes 5, 6 and 8)				Daily, weekly, monthly or quarterly (Notes 5, 7 and 8)
FSA050	Monthly (Note 5)				Monthly (Note 5)
FSA051	Monthly (Note 5)				Monthly (Note 5)
FSA052	Weekly or monthly (Notes 5 and 9)				Weekly or monthly (Notes 5 and 10)
FSA053	Quarterly (Note 5)				Quarterly (Note 5)
FSA054	Quarterly (Note 5)				Quarterly (Note 5)
FSA055	Annually (Note 5)			Annually (Note 5)	Annually (Note 5)
FSA058				Quarterly	Quarterly
FIN066						Quarterly
FIN067		Quarterly (Note 5)
FIN068				Half yearly
48FIN069						48Quarterly
48FIN070						48Quarterly
52FIN071						Quarterly
Section A RMAR						Half yearly (note 2) Quarterly (note 3)
Section B RMAR						Half yearly (note 2) Quarterly (note 3)
Section C RMAR						Half yearly (note 2) Quarterly (note 3)
Section D1 62 RMAR 50 50						Half yearly (note 2) Quarterly (note 3)
Section F RMAR						Half yearly
Note 1	[deleted]
Note 2	Annual regulated business revenue up to and including £5 million.
Note 3	Annual regulated business revenue over £5 million.
Note 4	The reporting date for this data item is six months after a firm's most recent accounting reference date.
Note 5	Reporting frequencies and reporting periods for this data item are calculated on a calendar year basis and not from a firm's accounting reference date. In particular: (1) A week means the period beginning on Saturday and ending on Friday. (2) A month begins on the first day of the calendar month and ends on the last day of that month. (3) Quarters end on 31 March, 30 June, 30 September and 31 December. (4) Daily means each business day. All periods are calculated by reference to London time. Any changes to reporting requirements caused by a firm receiving an intra-group liquidity modification (or a variation to one) do not take effect until the first day of the next reporting period applicable under the changed reporting requirements if the firm receives that intra-group liquidity modification or variation part of the way through such a period, unless the intra-group liquidity modification says otherwise.
Note 6	If the report is on a solo basis the reporting frequency is as follows: (1) if the firm does not have an intra-group liquidity modification the frequency is: (a) weekly if the firm is a standard frequency liquidity reporting firm; and (b) monthly if the firm is a low frequency liquidity reporting firm; (2) if the firm is a group liquidity reporting firm in a non-UK DLG by modification (firm level) the frequency is: (a) weekly if the firm is a standard frequency liquidity reporting firm; and (b) monthly if the firm is a low frequency liquidity reporting firm; (3) the frequency is quarterly if the firm is a group liquidity reporting firm in a UK DLG by modification.
Note 7	(1) If the report is by reference to the firm's DLG by default the reporting frequency is: (a) weekly if the group liquidity standard frequency reporting conditions are met; (b) monthly if the group liquidity low frequency reporting conditions are met. (2) If the report is by reference to the firm's UK DLG by modification the reporting frequency is: (a) weekly if the group liquidity standard frequency reporting conditions are met; (b) monthly if the group liquidity low frequency reporting conditions are met. (3) If the report is by reference to the firm's non-UK DLG by modification the reporting frequency is quarterly.
Note 8	(1) If the reporting frequency is otherwise weekly, the item is to be reported on every business day if (and for as long as) there is a firm-specific liquidity stress or market liquidity stress in relation to the firm or group in question. (2) If the reporting frequency is otherwise monthly, the item is to be reported weekly if (and for as long as) there is a firm-specific liquidity stress or market liquidity stress in relation to the firm or group in question. (3) A firm must ensure that it would be able at all times to meet the requirements for daily or weekly reporting under paragraph (1) or (2) even if there is no firm-specific liquidity stress or market liquidity stress and none is expected.
Note 9	If the report is on a solo basis the reporting frequency is as follows: (1) weekly if the firm is a standard frequency liquidity reporting firm; and (2) monthly if the firm is a low frequency liquidity reporting firm.
Note 10	If the report is by reference to the firm's UK DLG by modification the reporting frequency is: (1) weekly if the group liquidity standard frequency reporting conditions are met; (2) monthly if the group liquidity low frequency reporting conditions are met.

SUP 16.12.23AR13/04/2018

The applicable reporting frequencies for data items referred to in SUP 16.12.22A R are set out in the table below. Reporting frequencies are calculated from a firm's accounting reference date, unless indicated otherwise.45

45 Data item	Frequency
45 Data item	Unconsolidated BIPRU investment firm and IFPRU investment firm	Solo consolidated BIPRU investment firm andIFPRU investment firm	UK Consolidation Group or defined liquidity group	Annual regulated business revenue up to and including £5 million	Annual regulated business revenue over £5 million
COREP/FINREP	Refer to EU CRR and applicable technical standards
Solvency statement	Annually
FSA001	Quarterly or half yearly (Note 1)	Quarterly or half yearly (Note 1)	Half yearly
FSA002	Quarterly or half yearly (Note 1)	Quarterly or half yearly (Note 1)	Half yearly
FSA003	Monthly, quarterly or half yearly (Notes 2 and 11)	Monthly, quarterly or half yearly (Notes 2 and 11)	Half yearly
FSA004	Quarterly or half yearly (Notes 1 and 11)	Quarterly or half yearly (Notes 1 and 11)	Half yearly
FSA005	Quarterly or half yearly (Notes 1 and 11)	Quarterly or half yearly (Notes 1 and 11)	Half yearly
FSA006	Quarterly	Quarterly	Quarterly
FSA007	Annually
FSA016		Half yearly
FSA018	Quarterly	Quarterly	Quarterly
FSA019	Annually	Annually	Annually
FSA028	Half yearly (Note 11)	Half yearly (Note 11)
FSA032				Quarterly	Quarterly
FSA045	Quarterly or half yearly (Note 1)	Quarterly or half yearly (Note 1)	Half yearly
FSA046	Quarterly	Quarterly	Quarterly
FSA047	Daily, weekly, monthly or quarterly (Notes 4, 5 and 7)	Daily, weekly, monthly or quarterly (Notes 4, 5, 7 and 10)	Daily, weekly, monthly or quarterly (Notes 4, 6 and 7)
FSA048	Daily, weekly, monthly or quarterly (Notes 4, 5 and 7)	Daily, weekly, monthly or quarterly (Notes 4, 5, 7 and 10)	Daily, weekly, monthly or quarterly (Notes 4, 6 and 7)
FSA050	Monthly (Note 4)	Monthly (Notes 4 and 10)	Monthly (Note 4)
FSA051	Monthly (Note 4)	Monthly (Notes 4 and 10)	Monthly (Note 4)
FSA052	Weekly or monthly (Notes 4 and 8)	Weekly or monthly (Notes 4, 8 and 10)	Weekly or monthly (Notes 4 and 9)
FSA053	Quarterly (Note 4)	Quarterly (Notes 4 and 10)	Quarterly (Note 4)
FSA054	Quarterly (Note 4)	Quarterly (Notes 4 and 10)	Quarterly (Note 4)
FSA055	Annually (Note 4)	Annually (Notes 4 and 10)	Annually (Note 4)
FSA058	Quarterly (Note 11)	Quarterly (Note 11)	Quarterly
FIN067	Quarterly (Note 4)	Quarterly (Note 4)
FIN068	Half yearly	Half yearly
Section A RMAR				Half yearly	Quarterly
Section B RMAR				Half yearly	Quarterly
Section C RMAR				Half yearly	Quarterly
Sections D1 and D2 RMAR80 50 50 62				Half yearly	Quarterly
Section E RMAR	Half yearly	Half yearly	Half yearly	Half yearly	Quarterly
Section F RMAR	Half yearly	Half yearly	Half yearly	Half yearly	Half yearly
Section G RMAR	Half yearly	Half yearly	Half yearly	Half yearly	Half yearly
Section H RMAR	Half yearly	Half yearly	Half yearly	Half yearly	Half yearly
Section J RMAR	Annually	Annually	Annually	Annually	Annually
Section K RMAR	Annually54 54	Annually54 54	Annually54 54	Annually54 54	Annually54 54
Note 1	IFPRU 730K firms and IFPRU 125K firms - quarterly; IFPRU 50K firms and BIPRU firms - half yearly.
Note 2	IFPRU 730K firms - monthly;80 IFPRU 125K firms - quarterly;80 IFPRU 50K firms and BIPRU firms - half yearly.
Note 3	The reporting date for this data item is six months after a firm's most recent accounting reference date.
Note 4	Reporting frequencies and reporting periods for this data item are calculated on a calendar year basis and not from a firm's accounting reference date. In particular: (1) a week means the period beginning on Saturday and ending on Friday; (2) a month begins on the first day of the calendar month and ends on the last day of that month; (3) quarters end on 31 March, 30 June, 30 September and 31 December; (4) daily means each business day. All periods are calculated by reference to London time. Any changes to reporting requirements caused by a firm receiving an intra-group liquidity modification (or a variation to one) do not take effect until the first day of the next reporting period applicable under the changed reporting requirements if the firm receives that intra-group liquidity modification or variation part of the way through such a period, unless the intra-group liquidity modification says otherwise.
Note 5	If the report is on a solo basis the reporting frequency is as follows: (1) if the firm does not have an intra-group liquidity modification the frequency is: (a) weekly if the firm is a standard frequency liquidity reporting firm; and (b) monthly if the firm is a low frequency liquidity reporting firm; (2) if the firm is a group liquidity reporting firm in a non-UK DLG by modification (firm level) the frequency is: (a) weekly if the firm is a standard frequency liquidity reporting firm; and (b) monthly if the firm is a low frequency liquidity reporting firm; (3) the frequency is quarterly if the firm is a group liquidity reporting firm in a UK DLG by modification.
Note 6	(1) If the report is by reference to the firm's DLG by default the reporting frequency is: (a) weekly if the group liquidity standard frequency reporting conditions are met; (b) monthly if the group liquidity low frequency reporting conditions are met. (2) If the report is by reference to the firm's UK DLG by modification the reporting frequency is: (a) weekly if the group liquidity standard frequency reporting conditions are met; (b) monthly if the group liquidity low frequency reporting conditions are met. (3) If the report is by reference to the firm's non-UK DLG by modification the reporting frequency is quarterly.
Note 7	(1) If the reporting frequency is otherwise weekly, the item is to be reported on every business day if (and for as long as) there is a firm-specific liquidity stress or market liquidity stress in relation to the firm or group in question. (2) If the reporting frequency is otherwise monthly, the item is to be reported weekly if (and for as long as) there is a firm-specific liquidity stress or market liquidity stress in relation to the firm or group in question. (3) A firm must ensure that it would be able at all times to meet the requirements for daily or weekly reporting under (1) or (2) even if there is no firm-specific liquidity stress or market liquidity stress and none is expected.
Note 8	If the report is on a solo basis the reporting frequency is as follows: (1) weekly if the firm is a standard frequency liquidity reporting firm; and (2) monthly if the firm is a low frequency liquidity reporting firm.
Note 9	If the report is by reference to the firm's UK DLG by modification the reporting frequency is: (1) weekly if the group liquidity standard frequency reporting conditions are met; (2) monthly if the group liquidity low frequency reporting conditions are met.
Note 10	As specified in SUP 16.12.22A R, solo consolidation has no application to liquidity reporting. Therefore, it does not make any difference to the reporting of this item whether or not the firm is solo consolidated.
Note 11	Only applicable to firms that are not required to report a data item with a similar name and purpose under the EU CRR and applicable technical standards.

SUP 16.12.25AR01/07/2017

2The applicable data items referred to in SUP 16.12.4 R are set out according to type of firm in the table below:

45Description of data item	Firms' prudential category and applicable data item(note 1)
	IFPRU investment firms and BIPRU firms		Firmsother thanBIPRU firms or IFPRU investment firms
	IFPRU	BIPRU	IPRU(INV)Chapter 3	IPRU(INV)Chapter 5	IPRU(INV)Chapter 9	IPRU(INV)Chapter 13	38
Solvency statement (note 11)	No standard format						38
Balance sheet	FSA001/FINREP (Notes 2 and 30)	FSA001 (Note 2)	FSA029	FSA029	FSA029	Section A RMAR (note 17) or FSA029
Income statement	FSA002/FINREP (Notes 2 and 30)	FSA002 (Note 2)	FSA030	FSA030	FSA030	Section B RMAR (note 17) or FSA030
Capital adequacy	COREP (Note 30)	FSA003 (Note 2)	FSA033	FSA034 or FSA035 or FIN07152 (note 14)	FSA031	Section D1 62 RMAR (note 17) or FSA 032 (note 15) 50	38
Credit risk	COREP (Note 30	FSA004 (Notes 2, 3)
Market risk	COREP (Note 30)	FSA005 (Notes 2, 4)
Market risk - supplementary	FSA006 (note 5)	FSA006 (Note 5)
Operational risk	COREP (Note 30)
Large exposures	COREP (Note 30)
UK Integrated group large exposures	FSA018 (note 12)
Exposures between core UK group and non-core large exposures group	FSA016 (note 20)
Solo consolidation data	FSA016 (note 20)
Pillar 2 questionnaire	FSA019 (note 8)	FSA019 (Note 8)
Non-EEA sub-group	COREP (Note 30)	FSA028 (Note 9)
Threshold conditions						Section F RMAR (note 17)
Client money and client assets	FSA039	FSA039	FSA039	FSA039	FSA039	Section C RMAR (Note 13) or FSA039	38
IRB portfolio risk	FSA045 (note 18)	FSA045 (Note 18)
Securitisation: non-trading book	COREP (Note 30)	FSA046 (Note 19)
Daily Flows	FSA047/COREP (Notes 21, 24, 26, 28 and 30)
Enhanced Mismatch Report	FSA048/COREP (Notes 21, 24, 26, 28 and 30)
Liquidity Buffer Qualifying Securities	FSA050/COREP (Notes 22, 25, 26, 28 and 30)
Funding Concentration	FSA051/COREP (Notes 22, 25, 26, 28 and 30)
Pricing data	FSA052/COREP (Notes 22, 26, 28, 29 and 30)
Retail and corporate funding	FSA053/COREP (Notes 22, 25, 26, 28 and 30)
Currency Analysis	FSA054/COREP (Notes 22, 25, 26, 28 and 30)
Systems and Controls Questionnaire	FSA055/COREP (Notes 23, 28 and 30)	FSA055 (notes 23 and 28)45
Securitisation: trading book	COREP (Note 30)	FSA058 (Note 27)
Note 1:	When submitting the completed data item required, a firm must use the format of the data item set out in SUP 16 Annex 24 R. Guidance notes for completion of the data items are contained in SUP 16 Annex 25 G.
Note 2	Firms that are members of a UK consolidation group are also required to submit this report on a UK consolidation group basis.
Note 3	This applies to a firm that is required to submit data item FSA003 and, at any time within the 12 months up to its latest accounting reference date ("the relevant period"), was reporting data item FSA004 ("Firm A") or not reporting this item ("Firm B"). In the case of Firm A it must report this data item if one or both of its last two submissions in the relevant period show that the threshold was exceeded. In the case of Firm B it must report this item if both the last two submissions in the relevant period show that the threshold has been exceeded. The threshold is exceeded where data element 77A in data item FSA003 is greater than £10 million, or its currency equivalent, at the relevant reporting date for the firm.
Note 4	This applies to a firm that is required to submit data item FSA003 and, at any time within the 12 months up to its latest accounting reference date ("the relevant period"), was reporting data item FSA005 ("Firm A") or not reporting this item ("Firm B"). In the case of Firm A it must report this data item if one or both of its last two submissions in the relevant period show that the threshold was exceeded. In the case of Firm B it must report this item if both the last two submissions in the relevant period show that the threshold has been exceeded. The threshold is exceeded where data element 93A in data item FSA003 is greater than £50 million, or its currency equivalent, at the relevant reporting date for the firm.
Note 5	Only applicable to firms with a VaR model permission.
Note 6	[deleted]
Note 7	[deleted]
Note 8	Only applicable to IFPRU investment firms and BIPRU firms that: (a) are subject to consolidated supervision under BIPRU 8, except those that are either included within the consolidated supervision of a group that includes a UK credit institution, or that have been granted an investment firm consolidation waiver; or (b) have been granted an investment firm consolidation waiver; or (c) are not subject to consolidated supervision under BIPRU 8. An IFPRU investment firm and BIPRU firm under (a) must complete the report on the basis of its UK consolidation group. An IFPRU investment firm and BIPRU firm under (b) or (c) must complete the report on the basis of its solo position.
Note 9	This will be applicable to firms that are members of a UK consolidation group on the reporting date.
Note 10	[deleted]55 55
Note 11	Only applicable to a firm that is a sole trader or a partnership, when the report must be submitted by each partner.
Note 12	Only applicable to a firm that has both a core UK group and a non-core large exposures group.
Note 13	FSA039 must only be completed by a firm subject to IPRU(INV) Chapter 13 which is an exempt CAD firm. Section C RMAR must only be completed by a firm subject to IPRU(INV) Chapter 13 which is not an exempt CAD firm.
Note 14	FSA034 must be completed by a firm not subject to the exemption in IPRU(INV) 5.4.2R74, unless it is a firm whose permitted business includes establishing, operating or winding up a personal pension scheme, in which case FIN071 must be completed76. FSA035 must be completed by a firm subject to the exemption in IPRU(INV) 5.4.2R74 76. 74 52
Note 15	FSA032 must be completed by a firm subject to IPRU(INV) Chapter 13 which is an exempt CAD firm.
Note 16	[deleted]
Note 17	This is only applicable to a firm subject to IPRU(INV) Chapter 13 that is not an exempt CAD firm.
Note 18	Only applicable to firms that have an IRB permission.
Note 19	Only applicable to firms that hold securitisation positions, or are the originator or sponsor of securitisations of non-trading book exposures.
Note 20	Only applicable to a firm that has a solo consolidation waiver.
Note 21	A firm must complete this item separately on each of the following bases (if applicable). (1) It must complete it on a solo basis. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone. (2) If it a group liquidity reporting firm in a DLG by default and is a UK lead regulated firm, it must complete the item on the basis of that group. (3) If it is a group liquidity reporting firm in a UK DLG by modification, it must complete the item on the basis of that group. (4) If it is a group liquidity reporting firm in a non-UK DLG by modification, it must complete the item on the basis of that group.
Note 22	A firm must complete this item separately on each of the following bases that are applicable. (1) It must complete it on a solo basis unless it is a group liquidity reporting firm in a UK DLG by modification. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone. (2) If it is a group liquidity reporting firm in a UK DLG by modification, it must complete the item on the basis of that group.
Note 23	If it is a non-ILAS BIPRU firm, it must complete it on a solo basis. Therefore even if it has a solo consolidation waiver it must complete the item on an unconsolidated basis by reference to the firm alone.
Note 24	(1) This item must be reported in the reporting currency. (2) If any data element is in a currency or currencies other than the reporting currency, all currencies (including the reporting currency) must be combined into a figure in the reporting currency. (3) In addition, all material currencies (which may include the reporting currency) must each be recorded separately (translated into the reporting currency). However if: (a) the reporting frequency is (whether under a rule or under a waiver) quarterly or less than quarterly; or (b) the only material currency is the reporting currency; (3) does not apply. (4) If there are more than three material currencies for this data item, (3) only applies to the three largest in amount. A firm must identify the largest in amount in accordance with the following procedure. (a) For each currency, take the largest of the asset or liability figure as referred to in the definition of material currency. (b) Take the three largest figures from the resulting list of amounts. (5) The date as at which the calculations for the purposes of the definition of material currency are carried out is the last day of the reporting period in question. (6) The reporting currency for this data item is whichever of the following currencies the firm chooses, namely USD (the United States Dollar), EUR (the euro), GBP (sterling), JPY (the Japanese Yen), CHF (the Swiss Franc), CAD (the Canadian Dollar) or SEK (the Swedish Krona).
Note 25	Note 24 applies, except that paragraphs (3), (4) and (5) do not apply, meaning that material currencies must not be recorded separately.
Note 26	Any changes to reporting requirements caused by a firm receiving an intra-group liquidity modification (or a variation to one) do not take effect until the first day of the next reporting period applicable under the changed reporting requirements for the data item in question if the firm receives that intra-group liquidity modification or variation part of the way through such a period. If the change is that the firm does not have to report a particular data item or does not have to report it at a particular reporting level, the firm must nevertheless report that item or at that reporting level for any reporting period that has already begun. This paragraph is subject to anything that the intra-group liquidity modification says to the contrary.
Note 27	Only applicable to firms that hold securitisation positions in the trading book and/or are the originator or sponsor of securitisations held in the trading book.
Note 28	FSA047, FSA048, FSA050, FSA051, FSA052, FSA053 and FSA054 must be completed by an ILAS BIPRU firm. An ILAS BIPRU firm does not need to complete FSA055. A non-ILAS BIPRU firm must complete FSA055 and does not need to complete FSA047, FSA048, FSA050, FSA051, FSA052, FSA053 and FSA054.
Note 29	This data item must be reported only in the currencies named in FSA052, so that liabilities in GBP are reported in GBP in rows 1 to 4, those in USD are reported in USD in rows 5 to 8, and those in Euro are reported in Euro in rows 9 to 12. Liabilities in other currencies are not to be reported.
Note 30	Requirements under COREP and FINREP should be determined with reference to the EU CRR and applicable technical standards.

SUP 16.12.26R01/09/2016

The applicable reporting frequencies for data items referred to in SUP 16.12.25A R are set out according to the type of firm 2 in the table below. Reporting frequencies are calculated from a firm's accounting reference date, unless indicated otherwise.

45 Data item	Firms' prudential category
45 Data item	IFPRU 730K firm	IFPRU 125K firm	IFPRU 50K firm	BIPRU firm	UK consolidation group or defined liquidity group	Firms other than BIPRU firms or IFPRU investment firms
COREP/FINREP	Refer to EU CRR and applicable technical standards				Refer to EU CRR and applicable technical standards
Solvency statement	Annually	Annually	Annually	Annually		Annually
FSA001	Quarterly	Quarterly	Half yearly	Half yearly	Half yearly
FSA002	Quarterly	Quarterly	Half yearly	Half yearly	Half yearly
FSA003				Half yearly	Half yearly
FSA004				Half yearly	Half yearly
FSA005				Half yearly	Half yearly
FSA006	Quarterly	Quarterly	Quarterly	Quarterly
FSA007				Annual (note 4)	Annually (note 4)
FSA016	Half yearly	Half yearly	Half yearly	Half yearly
FSA018	Quarterly	Quarterly	Quarterly
FSA019	Annually	Annually	Annually	Annually	Annually
FSA028				Half yearly
FSA029						Quarterly
FSA030						Quarterly
FSA031						Quarterly
FSA032						Quarterly
FSA033						Quarterly
FSA034						Quarterly
FSA035						Quarterly38
FSA039	Half yearly	Half yearly	Half yearly	Half yearly		Half yearly
FSA045	Quarterly	Quarterly	Half yearly	Half yearly	Half yearly
FSA046					Quarterly
FSA047	Daily, weekly, monthly or quarterly (Notes 5, 6 and 8)				Daily, weekly, monthly or quarterly (Notes 5, 7 and 8)
FSA048	Daily, weekly, monthly or quarterly (Notes 5, 6 and 8)				Daily, weekly, monthly or quarterly (Notes 5, 7 and 8)
FSA050	Monthly (Note 5)				Monthly (Note 5)
FSA051	Monthly (Note 5)				Monthly (Note 5)
FSA052	Weekly or monthly (Notes 5 and 9)				Weekly or monthly (Notes 5 and 10)
FSA053	Quarterly (Note 5)				Quarterly (Note 5)
FSA054	Quarterly (Note 5)				Quarterly (Note 5)
FSA055	Annually (Note 5)			Annually (Note 5)	Annually (Note 5)
FSA058	[deleted]	[deleted]	[deleted]	Quarterly	Quarterly
52FIN071						Quarterly
Section A RMAR						Half yearly (note 2) Quarterly (note 3)
Section B RMAR						Half yearly (note 2) Quarterly (note 3)
Section C RMAR						Half yearly (note 2) Quarterly (note 3)
Section D1 62 RMAR 50 50						Half yearly (note 2) Quarterly (note 3)
Section F RMAR						Half yearly
Note 1	[deleted]
Note 2	Annual regulated business revenue up to and including £5 million.
Note 3	Annual regulated business revenue over £5 million.
Note 4	The reporting date for this data item is six months after a firm's most recent accounting reference date.
Note 5	Reporting frequencies and reporting periods for this data item are calculated on a calendar year basis and not from a firm's accounting reference date. In particular: (1) A week means the period beginning on Saturday and ending on Friday. (2) A month begins on the first day of the calendar month and ends on the last day of that month. (3) Quarters end on 31 March, 30 June, 30 September and 31 December. (4) Daily means each business day. All periods are calculated by reference to London time. Any changes to reporting requirements caused by a firm receiving an intra-group liquidity modification (or a variation to one) do not take effect until the first day of the next reporting period applicable under the changed reporting requirements if the firm receives that intra-group liquidity modification or variation part of the way through such a period, unless the intra-group liquidity modification says otherwise.
Note 6	If the report is on a solo basis the reporting frequency is as follows: (1) if the firm does not have an intra-group liquidity modification the frequency is: (a) weekly if the firm is a standard frequency liquidity reporting firm; and (b) monthly if the firm is a low frequency liquidity reporting firm; (2) if the firm is a group liquidity reporting firm in a non-UK DLG by modification (firm level) the frequency is: (a) weekly if the firm is a standard frequency liquidity reporting firm; and (b) monthly if the firm is a low frequency liquidity reporting firm; (3) the frequency is quarterly if the firm is a group liquidity reporting firm in a UK DLG by modification.
Note 7	(1) If the report is by reference to the firm's DLG by default the reporting frequency is: (a) weekly if the group liquidity standard frequency reporting conditions are met; (b) monthly if the group liquidity low frequency reporting conditions are met. (2) If the report is by reference to the firm's UK DLG by modification the reporting frequency is: (a) weekly if the group liquidity standard frequency reporting conditions are met; (b) monthly if the group liquidity low frequency reporting conditions are met. (3) If the report is by reference to the firm's non-UK DLG by modification the reporting frequency is quarterly.
Note 8	(1) If the reporting frequency is otherwise weekly, the item is to be reported on every business day if (and for as long as) there is a firm-specific liquidity stress or market liquidity stress in relation to the firm or group in question. (2) If the reporting frequency is otherwise monthly, the item is to be reported weekly if (and for as long as) there is a firm-specific liquidity stress or market liquidity stress in relation to the firm or group in question. (3) A firm must ensure that it would be able at all times to meet the requirements for daily or weekly reporting under paragraph (1) or (2) even if there is no firm-specific liquidity stress or market liquidity stress and none is expected.
Note 9	If the report is on a solo basis the reporting frequency is as follows: (1) weekly if the firm is a standard frequency liquidity reporting firm; and (2) monthly if the firm is a low frequency liquidity reporting firm.
Note 10	If the report is by reference to the firm's UK DLG by modification the reporting frequency is: (1) weekly if the group liquidity standard frequency reporting conditions are met; (2) monthly if the group liquidity low frequency reporting conditions are met.

GENPRU 1.3.5G07/03/2016

Except where a rule in GENPRU or BIPRU makes a14 different provision, GENPRU 1.3.4 R applies whenever a rule in GENPRU or BIPRU14 refers to the value or amount of an asset, liability, exposure, equity or income statement item, including:(1) whether, and when, to recognise or de-recognise an asset or liability;(2) the amount at which to value an asset, liability, exposure, equity or income statement item; and(3) which description to place on an asset, liability, exposure, equity

GENPRU 1.3.14R31/12/2006

Wherever possible, a firm must use mark to market in order to measure the value of the investments and positions to which this rule applies under GENPRU 1.3.13 R and GENPRU 1.3.38 R to GENPRU 1.3.41 R. Marking to market is valuation (on at least a daily basis in the case of the trading book positions of a BIPRU firm) at readily available close out prices from independent sources.

GENPRU 1.3.28R31/12/2006

In the case of the trading book positions of a BIPRU firm, while daily marking to market may be performed by dealers, verification of market prices and model inputs must be performed by a unit independent of the dealing room, at least monthly (or, depending on the nature of the market/trading activity, more frequently).

GENPRU 1.3.36R01/01/2014

Adjustments to accounting values(1) For the purposes of GENPRU and BIPRU, the adjustments in (2) and (3) apply to values calculated pursuant to GENPRU 1.3.4 R in addition to those required by GENPRU 1.3.9 R to GENPRU 1.3.10 R.(2) A BIPRU firm must not recognise either:(a) the fair value reserves related to gains or losses on cash flow hedges of financial instruments measured at amortised cost; or(b) any unrealised gains or losses on debt instruments held, or formerly held,8 in

BIPRU 8.4.9R01/11/2015

(1) A CAD Article 22 group means a UK consolidation group or non-EEA sub-group that meets the conditions in this rule.(2) There must be no bank, building society or2credit institution2 in the UK consolidation group or non-EEA sub-group and any investment firm in the UK consolidation group or non-EEA sub-group must not be subject to consolidated supervision under the EU CRR2.11(3) Each CAD investment firm in the UK consolidation group or non-EEA sub-group which is an EEA firm

BIPRU 12.3.4AG01/04/2013

2The strategies, policies, processes and systems referred to in BIPRU 12.3.4 R should include those which enable it to assess and maintain on an ongoing basis the amounts, types and distribution of liquidity resources that it considers adequate to cover:(1) the nature and level of the liquidity risk to which it is or might be exposed;(2) the risk that the firm cannot meet its liabilities as they fall due; and(3) in the case of an ILAS BIPRU firm, the risk that its liquidity resources

BIPRU 12.3.9G01/04/2013

As part of the SLRP, the appropriate regulator will assess the appropriateness of the liquidity risk tolerance adopted by an ILAS BIPRU firm to ensure that this risk tolerance is consistent with maintenance by the firm of adequate liquidity resources for the purpose of the overall liquidity adequacy rule. The appropriate regulator will expect a firm to provide it with an adequately reasoned explanation for the level of liquidity risk which that firm'sgoverning body has decided

BIPRU 8.3.1R01/01/2014

(1) A BIPRU firm that is a subsidiary undertaking of a BIPRU firm or of a financial holding company or of a mixed financial holding company3 must apply the requirements laid down in GENPRU 1.2 (Adequacy of financial resources) and4 the main BIPRU firm Pillar 1 rules (but not the base capital resources requirement) on a sub-consolidated basis if the BIPRU firm, or the parent undertaking where it is a financial holding company or a mixed financial holding company3, have a third

BIPRU 1.1.23R01/04/2014

(1) Dealing on own account means (for the purpose of GENPRU and BIPRU) the service of dealing in any financial instruments for own account as referred to in point 3 of Section A of Annex I to MiFID, subject to (2) and (3).99(2) In accordance with article 5(2) of the Capital Adequacy Directive (Definition of dealing on own account), a CAD investment firm that executes investors' orders for financial instruments and holds such financial instruments for its own account does not for

IPRU-INV 11.6.2G30/12/2015

(1) A collective portfolio management investment firm may undertake the following MiFID business: portfolio management; investment advice; safekeeping and administration in relation to shares or units of collective investment undertakings; and (if it is an AIFM investment firm) reception and transmission of orders in relation to financial instruments.(2) Subject to the conditions that the firm is not authorised to provide safekeeping and administration in relation to shares or

BIPRU 2.1.7R01/01/2014

A firm that has a solo consolidation waiver must incorporate in the calculation of its requirements under the main BIPRU firm Pillar 1 rules each subsidiary undertaking to which the solo consolidation waiver applies. This does not apply to the base capital resources requirement.323

BIPRU 12.5.7G01/04/2013

The appropriate regulator will review the results of a firm'sILAA, including the results of the stress tests required by BIPRU 12.5.6R, as part of its Supervisory Liquidity Review Process (SLRP). The appropriate regulator's review of the stress test results will assist it assessing the adequacy of a firm's liquidity resources relative to other ILAS BIPRU firms and, consequently, in calibrating the individual liquidity guidance that it gives to that firm. BIPRU 12.9.2G sets out

GENPRU 3.2.9R01/04/2013

If the Part 4A permission of a firm contains a requirement obliging it to comply with this rule with respect to a third-country banking and investment group of which it is a member, it must comply, with respect to that third-country banking and investment group, with the rules in Part 2 of GENPRU 3 Annex 2, as adjusted by Part 3 of that annex.

Related provisions for GENPRU 2.2.241

Search Term(s)

Filter by Topics

Filter by Modules

Filter by Documents

Filter by Keywords

Effective Period

Similar To