1
Application and Definitions
1.1
Unless otherwise stated, this Part applies to every firm permitted to carry on the regulated activities listed in column (1) of the table in 6.1, except an incoming EEA firm with permission for cross border services only.
- 01/01/2016
1.2
In this Part, the following definitions shall apply:
administering a home finance transaction
means any of administering a regulated mortgage contract, administering a home purchase plan, administering a home reversion plan or administering a regulated sale and rent back agreement.
administering a home purchase plan
means the regulated activity specified in article 63F(2) of the Regulated Activities Order.
administering a home reversion plan
means the regulated activity specified in article 63B(2) of the Regulated Activities Order.
administering a regulated mortgage contract
means the regulated activity, specified in article 61(2) of the Regulated Activities Order.
administering a regulated sale and rent back agreement
means the regulated activity specified in article 63J(2) of the Regulated Activities Order.
banking and investment services conglomerate
means a financial conglomerate that is identified in paragraph 4.3 of GENPRU 3 Annex 1 R (Types of financial conglomerate) in the PRA Handbook as a ‘banking and investment services conglomerate’.
means the Prudential sourcebook for Banks, Building Societies and Investment Firms in the PRA Handbook.
means any Capital+ reference date following the initial Capital+ reference date applicable to a firm where a firm satisfies a Capital+ condition which is different to the Capital+ condition it satisfied on the Capital+ reference date immediately preceding it.
means any of Capital+ condition 1, Capital+ condition 2, Capital+ condition 3, Capital+ condition 4, Capital+ condition 5, Capital+ condition 6, Capital+ condition 7 and Capital+ condition 8.
has the meaning given in 20.6.
has the meaning given in 20.7.
has the meaning given in 20.8.
has the meaning given in 20.9.
has the meaning given in 20.10 and 20.10A.
has the meaning given in 20.11.
has the meaning given in 20.12.
has the meaning given in 20.13.
means:
- (1) a firm’s accounting reference date; and
- (2) the date falling six months after a firm’s accounting reference date.
has the meaning given in 20.21.
entering as provider into a funeral plan contract
means the regulated activity specified in article 59 of the Regulated Activities Order.
entering into a home finance transaction
means any of entering into a regulated mortgage contract, entering into a home purchase plan, entering into a home reversion plan or entering into a regulated sale and rent back agreement.
entering into a home purchase plan
means the regulated activity, specified in article 63F(1) of the Regulated Activities Order.
entering into a home reversion plan
means the regulated activity, specified in article 63B(1) of the Regulated Activities Order.
entering into a regulated mortgage contract
means the regulated activity, specified in article 61(1) of the Regulated Activities Order.
entering into a regulated sale and rent back agreement
means the regulated activity, specified in article 63J(1) of the Regulated Activities Order.
establishing, operating or winding up a collective investment scheme
means the regulated activity specified in article 51ZE of the Regulated Activities Order.
establishing, operating or winding-up a regulated collective investment scheme
means establishing, operating or winding up a collective investment scheme if the scheme is a regulated collective investment scheme.
means:
- (1) a credit institution or investment firm subject to the CRR that is also subject to article 4 of Regulation (EC) No 1606/2002; or
- (2) a credit institution other than one referred to in Article 4 of Regulation (EC) No 1606/2002 that prepares its consolidated accounts in conformity with the international accounting standards adopted in accordance with the procedure laid down in article 6(2) of that Regulation.
[Note: article 99 of the CRR]
means the body corporate established under paragraph 2(1) of Schedule 17 to FSMA (The Scheme Operator) (as originally enacted).
means any of the regulated activities of:
means a firm with permission (or which ought to have permission) for administering a home finance transaction.
means a firm with permission (or which ought to have permission) for entering into a home finance transaction.
home finance providing activity
means any of the regulated activities of:
means a firm applying international accounting standards as applicable under Regulation (EC) No 1606/2002.
individual consolidation permission
means a CRR permission under Article 9 of the CRR.
initial Capital+ reference date
means:
- (1) in relation to a data item which a ring-fenced body must submit on a sub-consolidated basis in accordance with 20.22A, the first of the firm’s Capital+ reference dates after the firm became subject to the Ring-fenced Bodies Part; or
- (2) for any other firm, the first of the firm’s Capital+ reference dates after it became a PRA-authorised person.
means a financial conglomerate that is identified in paragraph 4.3 of GENPRU 3 Annex 1 R (Types of financial conglomerate) in the PRA Handbook as an insurance conglomerate.
intra-group liquidity modification
means a modification to the overall liquidity adequacy rule of the kind described in BIPRU 12.8.7G in the PRA Handbook as in effect on 30 September 2015 granted to a firm and in effect on that date.
means the Interim Prudential Sourcebook for Insurers in the PRA Handbook.
means a firm which is the subject of the financial supervision requirements of an overseas regulator in accordance with an agreement between the PRA and that regulator relating to the financial supervision of firms whose head office is within the country of that regulator.
This definition is not related to the defined term ‘UK lead regulation firm’.
means the regulated activity, specified in article 63N(1)(a) of the Regulated Activities Order.
means, in respect of any Capital+ changeover date, the new Capital+ condition which a firm satisfies on that date.
means a bank which is a body corporate or partnership formed under the law of any country or territory outside the EEA.
means, in respect of any Capital+ changeover date, the Capital+ condition which a firm no longer satisfies on that date.
means a firm to which the Operational Continuity Part applies.
means a firm which is not a IFRS firm and which applies IFRS 9 in accordance with Financial Reporting Standard 101 (September 2015, ISBN 978-0-7545-5361-8) or 11.2(c) and 12.2(c) of Financial Reporting Standard 102 (September 2015, ISBN 978-0-7545-5362-5)
means a regulated activity group.
means a set of one or more regulated activities referred to in determining a firm’s data item submission requirements.
means (in relation to a data item) the basis on which that data item is prepared, being either:
- (1) an individual basis; or
- (2) the basis of a group and, if it is prepared on the basis of a group, the type of group (such as a UK DLG by modification, a non-UK DLG by modification (firm level) or a domestic liquidity sub-group).
means “deposits” within the meaning given in paragraph 30, Part 1 of Annex V to the Supervisory Reporting ITS, from “households” within the meaning of paragraph 35(f) of Part 1 of Annex V to the Supervisory Reporting ITS.
means an individual who is a firm.
third-country financial conglomerate
means a financial conglomerate that is of a type that falls under Article 5(3) of the Financial Groups Directive.
means the consolidation group of a firm to which supervision on a consolidated basis by the PRA applies in accordance with Article 111 of CRD.
UK- regulated EEA financial conglomerate
means a financial conglomerate (other than a third-country financial conglomerate) that satisfies one of the following conditions:
- (1) GENPRU 3.1.29 R (Capital adequacy calculations for financial conglomerates) in the PRA Handbook applies with respect to it; or
- (2) a firm that is a member of that financial conglomerate is subject to obligations imposed through its Part 4A permission to ensure that financial conglomerate meets levels of capital adequacy based or stated to be based on Annex I of the Financial Groups Directive.
- 01/07/2019
1.3
Unless otherwise defined, any italicised expression used in this Part:
- (1) listed in Annex 1 (Liquidity definitions) to this Part has the meaning specified in the PRA Handbook as in effect on 30 September 2015; and
- (2) in the CRR, has the same meaning as in the CRR.
- 01/01/2016