Liquidity Coverage Requirement - UK Designated Investment Firms

1.1

This Part applies to:

(1) every firm that is a UK designated investment firm; and

(2) a CRR consolidation entity.

1.2

In this Part, the following definitions shall apply:

COREP Regulation

means the Commission Implementing Regulation (EU) No 680/2014 of 16 April 2014 laying down implementing technical standards with regard to supervisory reporting of institutions according to Regulation (EU) No 575/2013 of the European Parliament and the Council, as amended from time to time.

Delegated Regulation

means Commission Delegated Regulation (EU) 2015/61 of 10 October 2014 to supplement Regulation (EU) No 575/2013 of the European Parliament and the Council with regard to liquidity coverage requirement for Credit Institutions, as amended from time to time.

1.3

[Deleted]

2.1

1. (1) For the purpose of complying with Article 412 (1) of the CRR, a firm must comply with the obligations set out in the Delegated Regulation as they apply to a credit institution supervised pursuant to the CRD, subject to the modifications in (2).
2. (2) For the purposes of (1):
1. (a) the provisions in Article 2(3) of the Delegated Regulation do not apply where Article 12 of the CRR applies;
2. (b) the provisions in Article 2(3)(d) and Article 38 of the Delegated Regulation do not apply; and
3. (c) any reference to competent authority means a reference to the PRA.

3.1

[Deleted.]

3.2

1. (1) A firm must comply with the reporting requirements laid down in Chapter 1 and Chapter 7 to Chapter 9 of the COREP Regulation with the exception of Article 15 as they apply to a credit institution supervised pursuant to the CRD.
2. (2) For the purpose of (1), a reference to Article 415 of the CRR in the COREP Regulation is construed as a reference to the obligations set out in (1).

4.1

This Part applies to a firm on an individual basis (excluding the effect of any individual consolidation permission) whether or not it also applies to the firm on a consolidated basis.

4.1A

[Deleted]

4.2

A CRR consolidation entity must comply with this Part on a consolidated basis.

4.3

[deleted]

4.4

A firm or CRR consolidation entity to which this Part is applied in a sub-consolidation requirement must comply with this Part on a sub-consolidated basis, as set out in that requirement.

5.1

[Deleted.]