Related provisions for GENPRU 2.2.207

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8A building society may include a deferred share at stage A of the calculation in the capital resources table if (in addition to satisfying all the other requirements in relation to tier one capital) it is permanent share capital and is otherwise equivalent to an ordinary share in terms of its capital qualities, taking into account the specific constitution of building societies under the Building Societies Act 1986.
8A BIPRU firm must not include a capital instrument that is not a share at stage B1, B2 or C of the calculation in the capital resources table unless (in addition to satisfying all the other requirements in relation to tier one capital and hybrid capital) the firm's obligations under the instrument either:(1) do not constitute a liability (actual, contingent or prospective) under section 123(2) of the Insolvency Act 1986; or(2) do constitute such a liability but the terms of the
8A BIPRU firm must not include a capital instrument at stage B1, B2 or C of the calculation in the capital resources table unless (in addition to satisfying all the other requirements in relation to tier one capital and hybrid capital) its contractual terms provide for a mechanism within the instrument which:(1) is clearly defined and legally certain;(2) is disclosed and transparent to the market;(3) makes the recapitalisation of the firm more likely by adequately reducing the
GENPRU 2.2.210GRP
For the purpose of the definition of a material holding, share capital includes preference shares. Share premium should be taken into account when determining the amount of share capital.
GENPRU 2.2.264RRP
(1) The excess trading book position is the excess of:(a) a bank or building society's aggregate net long (including notional) trading bookpositions in shares, subordinated debt or any other interest in the capital of credit institutions or financial institutions;over;(b) 25% of that firm'scapital resources calculated at stage T (Total capital after deductions) of the capital resources table (calculated before deduction of the excess trading book position).(2) Only the excess
IPRU-INV 9.5.7RRP
A firm may include perpetual non-cumulative and cumulative preference share capital in its initial capital and its own funds only if there is an agreement between the firm and the shareholders which provides that redemption of the shares may not take place, if after such redemption the firm would be in breach of its own funds requirement
Table: Items which are eligible to contribute to the financial resources of a firm Item Additional explanation 1. Share capital This must be fully paid and may include: (1) ordinary share capital; or (2) preference share capital (excluding preference shares redeemable by shareholders within two years). 2. Capital other than share capital (for example, the capital of a sole trader, partnership or limited liability
Table: Items which must be deducted in arriving at financial resources 1 Investments in own shares2 Investments in subsidiaries (Note 1) 3 Intangible assets (Note 2) 4 Interim net losses (Note 3) 5 Excess of drawings over profits for a sole trader or a partnership (Note 3) Notes 1. Investments in subsidiaries are the full balance sheet value. 2. Intangible assets are the full balance sheet value of goodwill, capitalised development costs, brand names, trademarks
IPRU-INV 12.3.5R can be illustrated as follows: 1 Share Capital £20,000 Reserves £30,000 Subordinated loans/debts £10,000 Intangible Assets £10,000 As subordinated loans/debts (£10,000) are less than the total of share capital + reserves – intangible assets (£40,000) the firm need not exclude any of its subordinated loans/debts pursuant to IPRU-INV 12.3.5R. Therefore, total financial resources1 will be £50,000.
CONC 10.3.2RRP
Table: Items which are eligible to contribute to the prudential resources of a firmItemAdditional explanation1Share capitalThis must be fully paid and may include:(1)ordinary share capital; or(2)preference share capital (excluding preference shares redeemable by shareholders within two years).2Capital other than share capital (for example, the capital of a sole trader, partnership or limited liability partnership)The capital of a sole trader is the net balance on the firm's capital
CONC 10.3.6GRP
CONC 10.3.5 R can be illustrated by the examples set out below:(1) Share Capital£20,000Reserves£30,000Subordinated loans/debts£10,000Intangible assets£10,000As subordinated loans/debts (£10,000) are less than the total of share capital + reserves - intangible assets (£40,000) the firm need not exclude any of its subordinated loans/debts pursuant to CONC 10.3.5 R. Therefore total prudential resources will be £50,000.(2) Share Capital£20,000Reserves£30,000Subordinated loans/debts£60,000Intangible
MIPRU 4.4.2RRP
Table: Items which are eligible to contribute to the capital resources of a firmItemAdditional explanation1.Share capitalThis must be fully paid and may include:(1)ordinary share capital; or(2)preference share capital (excluding preference shares redeemable by shareholders within two years).2.Capital other than share capital (for example, the capital of a sole trader, partnership or limited liability partnership)The capital of a sole trader is the net balance on the firm's capital
MIPRU 4.4.4RRP
Table: Items which must be deducted from capital resources 1Investments in own shares2Intangible assets (Note 1)3Interim net losses (Note 2)4Excess of drawings over profits for a sole trader or a partnership (Note 2)NotesNotes 1. Intangible assets are the full balance sheet value of goodwill (but not until 14 January 2008 - see transitional provision 1), capitalised development costs, brand names, trademarks and similar rights and licences.2. The interim net losses in row 3, and
MIPRU 4.4.8RRP
(1) This rule applies to a firm which:(a) carries on:(i) insurance distribution activity7 ; or(ii) home finance mediation activity1(or both); and1in relation to those activities, holds client money or other client assets; or5(b) carries on home financing or home finance administration connected to regulated mortgage contracts (or both) unless as at 26 April 2014 its Part IV permission was and continues to remain subject to a restriction preventing it from undertaking new home
A firm must calculate its capital resources in accordance with table 13.15.3(1). Table 13.15.3(1)This table forms part of IPRU-INV 13.15.3R.Capital resourcesCompaniesSole traders: PartnershipsPaid-up share capital (excluding preference shares2 redeemable by shareholders2 within two years)Eligible LLP members’ capitalShare premium accountRetained profits (see IPRU-INV 13.15.4R) and interim net profits (Note 1)Revaluation reservesSubordinated loans (see IPRU-INV 13.15.7R)Debt capitalBalances
IPRU-INV 5.8.1RRP
1A firm must calculate its own funds and liquid capital as shown below, subject to the detailed requirements set out in IPRU-INV 5.8.2R.Financial resourcesCategoryIPRU-INV 5.8.2R paragraphTier 1(1)Paid-up share capital (excluding preference shares) A(1A)Eligible LLP members' capital (2) Share premium account (3) Reserves 2A(4) Non-cumulative preference shares Less: (5) Investments in own sharesB(6) Intangible assets (7) Material current year losses 4(8)Material holdings in
Glossary of defined terms for Chapter 9Note: If a defined term does not appear in the glossary below, the definition appearing in the HandbookGlossary applies. approved exchangemeans an investment exchange listed as such in Appendix 33 to IPRU-INV 3.exchangemeans a recognised investment exchange or designated investment exchange.initial capitalmeans the initial capital of a firm calculated in accordance with section 9.3.intangible assetsthe full balance sheet value of a firm's