Related provisions for IPRU-INV 5.4.10

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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

1 Deductions and Ratios (Items 10, 11 and 15)(a)Notwithstanding IPRU-INV 5.8.1R and 5.8.2R for an exempt CAD firm, in calculating own funds, all of Item 8 must be deducted after the total of Tier 1 and Tier 2 capital and the following restrictions apply:(i)the total of fixed term cumulative preference shares (item 10) and long-term qualifying subordinated loans (item 11) that may be included in Tier 2 capital is limited to 50 per cent of Tier 1 capital;(ii)Tier 2 capital must