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Application provision

1.1 This Part applies to a CRR firm.

13.1

01/10/2015

A firm must ensure that:

  1. (1) it regularly, but at least annually, reviews its ILAAP;
  2. (2) it regularly carries out an internal assessment of the adequacy of its liquidity and funding in accordance with its ILAAP;
  3. (3) the assessment in (2) is proportionate to the nature, scale and complexity of its activities and includes an assessment of:
    1. (a) the adequacy of its liquidity and funding resources to cover the risks identified in accordance with this Part;
    2. (b) the methodologies and assumptions applied for risk measurement and liquidity management;
    3. (c) the results of the stress tests required by 11.3; and
    4. (d) the firm’s compliance with this Part;
  4. (4) its ILAAP identifies those of the measures set out in its liquidity contingency plans that it would implement.

13.2

01/10/2015

A firm must make a written record of its ILAAP and the assessments required under this Part and maintain such record for at least three years.

13.3

01/10/2015

A firm must ensure that its management body approves the firm’s ILAAP.