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Application provision

1.1  Unless otherwise stated, this Part applies to:

  1. (1) every firm that is a UK bank or a building society that, on the firm’s last accounting reference date, had retail deposits equal to or greater than £50 billion either on:
    1. (a) an individual basis;
    2. (b) if the firm is a parent institution in a Member State, on the basis of its consolidated situation; or
    3. (c) if the firm is controlled by a parent financial holding company in a Member State or by a parent mixed financial holding company in a Member State and the PRA is responsible for supervision of that holding company on a consolidated basis under Article 111 of the CRD, on the basis of the consolidated situation of that holding company; and
  2. (2) a ring-fenced body that is a member of a group containing a firm falling within 1.1(1).

2.1

01/01/2016

A firm that is not a member of a consolidation group in relation to which 2.2 or 2.3 applies must comply with this Part on an individual basis. 

2.1A

30/03/2018

If this Part applies to a firm on an individual basis, the firm must comply with the rules in this Part to the same extent and in the same manner as it is required to comply with the firm’s obligations laid down in Part Seven of the CRR.

2.2

01/01/2016

A firm that is a parent institution in a Member State must comply with this Part on the basis of its consolidated situation.

2.3

01/01/2016

A firm that is controlled by a parent financial holding company in a Member State or a parent mixed financial holding company in a Member State for which the PRA is responsible for supervision on a consolidated basis under Article 111 of the CRD must comply with this Part on the basis of the consolidated situation of that holding company. 

2.4

01/01/2019

A ring-fenced body must comply with this Part on an RFB sub-consolidated basis whether or not under 2.2 or 2.3 it also applies to the ring-fenced body on a consolidated basis.