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Application provision

1.1 Unless otherwise stated, this Part applies to a credit union.

5.1

03/02/2016

A credit union must not borrow from a natural person other than by subordinated loan qualifying as capital within the meaning given in 8.2.

5.2

03/02/2016

A credit union’s borrowings must not exceed 20% of the total non-deferred shares in the credit union at the end of more than two consecutive regulatory reporting quarters.

5.3

03/02/2016

A credit union must not count subordinated debt obtained by that credit union and forming part of its capital within the meaning given in 8.2 towards the borrowing limit in 5.2.