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Term Definition Legal instruments

sectoral rules

12/10/2016

THIS DEFINITION ONLY APPLIES TO THE FINANCIAL CONGLOMERATES PART

means, in relation to a financial sector, the following rules and requirements relating to the prudential supervision of regulated entities within that financial sector:

(1) for the purposes of 2.8, EEA prudential sectoral legislation for that financial sector together with, as appropriate, the rules and requirements in (3);

(2) for the purpose of calculating solo capital resources and a solo capital resources requirement:

(a) to the extent provided for in paragraphs 6.4 to 6.6 of Annex 2, rules and requirements that are referred to in those paragraphs; and

(b) the rules and requirements in (3); or

(3) for all other purposes, rules and requirements of the PRA.

and so that:

(4) in relation to prudential rules about consolidated supervision for any financial sector, those requirements include ones relating to the form and extent of consolidation;

(5) in relation to any financial sector, those requirements include ones relating to the eligibility of different types of capital;

(6) in relation to any financial sector, those requirements include both ones applying on a solo basis and ones applying on a consolidated basis; and

(7) references to the PRA’s sectoral rules are to sectoral rules in the form of rules.