Related provisions for BIPRU 2.2.24

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IFPRU 2.3.1GRP
(1) IFPRU 2.3 sets out guidance on IFPRU 2.2 (Adequacy of financial resources) so far as it applies to an IFPRU investment firm. In particular, guidance on how a firm should carry out its ICAAP, as well as some factors the FCA will take into consideration when undertaking a SREP. The terms ICAAP and SREP are explained in IFPRU 2.3.3 G. IFPRU 2.3.48 G to IFPRU 2.3.52 R are rules that apply to a firm with an IRB permission.(2) IFPRU 2.3 is mainly written on the basis that IFPRU
IFPRU 2.3.3GRP
The adequacy of a firm's capital needs to be assessed both by a firm and the FCA. This process involves:(1) an internal capital adequacy assessment process (ICAAP), which a firm is obliged to carry out in accordance with the ICAAPrules; and(2) a supervisory review and evaluation process (SREP), which is conducted by the FCA.
IFPRU 2.3.7GRP
The FCA will review a firm'sICAAP, including the results of the firm's stress tests carried out under IFPRU and the UK CRR4, as part of its SREP. Provided that the FCA is satisfied with the appropriateness of a firm's capital assessment, the FCA will take into account that firm'sICAAP and stress tests in its SREP. More material on stress tests for a firm with an IRB permission can be found in IFPRU 2.3.50 R to IFPRU 2.3.54 G.11
IFPRU 2.3.9GRP
As part of its SREP, the FCA may ask a firm to provide it with the results of that firm'sICAAP, together with an explanation of the process used. Where appropriate, the FCA will ask for additional information on the ICAAP.
IFPRU 2.3.33GRP
IFPRU 2.3.34 G to IFPRU 2.3.36G set out what the FCA considers to be a proportional approach to preparing an ICAAP as referred to in IFPRU 2.2.12 R (The processes, strategies and systems required by the overall Pillar 2 rule should be comprehensive and proportionate), according to the relative degree of complexity of a firm's activities. If a firm adopts the appropriate approach, it may enable the FCA more easily to review a firm'sICAAP when the FCA undertakes its SREP. The FCA
BIPRU 2.2.2GRP
(1) BIPRU 2.2 sets out guidance on GENPRU 1.2 (Adequacy of financial resources) so far as it applies to a BIPRU firm. In particular it sets out guidance on how a firm should carry out its ICAAP, as well as some factors the appropriate regulator will take into consideration when undertaking a SREP. The terms ICAAP and SREP are explained in BIPRU 2.2.4 G. BIPRU 2.2.41 R-BIPRU 2.2.43 R are rules that apply to a firm with an IRB permission.(2) BIPRU 2.2 is for the most part written
BIPRU 2.2.4GRP
The adequacy of a firm's capital needs to be assessed both by a firm and the appropriate regulator. This process involves:(1) an internal capital adequacy assessment process (ICAAP), which a firm is obliged to carry out in accordance with the ICAAP rules; and(2) a supervisory review and evaluation process (SREP), which is conducted by the appropriate regulator.
BIPRU 2.2.8GRP
The appropriate regulator will review a firm'sICAAP, including the results of the firm's stress tests carried out under GENPRU and BIPRU, as part of its SREP. Provided that the appropriate regulator is satisfied with the appropriateness of a firm's capital assessment, the appropriate regulator will take into account that firm'sICAAP and stress tests in its SREP. More material on stress tests for a firm with an IRB permission can be found in BIPRU 2.2.41 R to BIPRU 2.2.45 G.44
BIPRU 2.2.10GRP
As part of its SREP, the appropriate regulator may ask a firm to provide it with the results of that firm'sICAAP, together with an explanation of the process used. Where appropriate, the appropriate regulator will ask for additional information on the ICAAP.
IFPRU 2.2.73GRP
(1) In identifying an appropriate range of adverse circumstances and events in accordance with IFPRU 2.2.37 R (2):(a) a firm will need to consider the cycles it is most exposed to and whether these are general economic cycles or specific to particular markets, sectors or industries;(b) for the purposes of IFPRU 2.2.37 R (2)(a), the amplitude and duration of the relevant cycle should include a severe downturn scenario based on forward-looking hypothetical events, calibrated against
IFPRU 1.1.3GRP
(1) IFPRU applies to a collective portfolio management investment firm that is an IFPRU investment firm in parallel with IPRU(INV) 11 (see IPRU(INV) 11.6).(2) Generally, IFPRU only applies to a collective portfolio management investment firm'sdesignated investment business (excluding managing an AIF and ). managing a UK UCITS4). However, IFPRU 2.2 (Internal capital adequacy assessment process) and IFPRU 2.3 (Supervisory review and evaluation process: Internal capital adequacy