Prudential Regulation Authority Rulebook

2.1

Subject to rule 2.2, an institution shall comply with this Part on an individual basis.

[Note: Rule 2.1 sets out an equivalent provision to Article 6(1) of the CRR that applies to this Part]

2.2

An institution shall comply with Article 430(1)(d) to the same extent and on the same basis that it is required to comply with the Liquidity (CRR) and Liquidity Coverage Ratio (CRR) Parts of the PRA Rulebook.

[Note: Rule 2.2 sets out an equivalent provision to Article 6(4) of the CRR that applies to this Part]

2.3

Where an institution has been given permission under Article 9(1) of the CRR it shall incorporate relevant subsidiaries in the calculation and reporting undertaken to comply with rule 2.1.

[Note: Rule 2.3 applies Article 9(1) of the CRR to this Part where a permission under that Article has been given]

2.4

A CRR consolidation entity shall comply with this Part on the basis of its consolidated situation except that it shall comply with Article 430(1)(d) to the same extent and on the same basis that it is required to comply with the Liquidity (CRR) and Liquidity Coverage Ratio (CRR) Parts of the PRA Rulebook.

[Note: Rule 2.4 sets out an equivalent provision to the first sentence of Article 11(1) and Article 11(4) of the CRR that apply to this Part]

2.5

For the purposes of applying this Part on a consolidated basis, the terms "institution" and 'UK parent institution' shall include a CRR consolidation entity (if it would not otherwise have been included).

[Note: Rule 2.5 sets out an equivalent provision to the first sub-paragraph of Article 11(2) of the CRR that applies to this Part]

2.6

The expression "consolidated situation" applies for the purposes of this Part as it does for the purposes of Parts Two and Three of the CRR.

[Note: the term 'consolidation situation' is defined in Article 4(1)(47) of the CRR]

2.7

An institution that is required to comply with Parts Two and Three of the CRR on a sub-consolidated basis, shall comply with this Part on the same basis.

[Note: Rule 2.7 sets out an equivalent provision to Article 11(6) of the CRR that applies to this Part]

2.8

An LREQ firm shall comply with:

1. (a) the standard leverage reporting requirements on the LREQ basis and any other basis on which this Part applies to the LREQ firm under rules 2.1 to 2.7;
2. (b) the additional leverage reporting requirements on the LREQ basis only.