1

Application and Definitions

1.1

The changes to this rule are effective from 23:00 on 31/12/2020.

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 UK parent institution, on the basis of its consolidated situation; or
    3. (c) if the firm is controlled by a UK parent financial holding company or by a UK parent mixed financial holding company and the PRA is responsible for supervision of that holding company on a consolidated basis, 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).

1.2

In this Part, the following definitions shall apply:

average leverage ratio

means the average leverage ratio calculated in accordance with 3.2 or 4.2, as applicable.

leverage ratio

has the meaning given in Leverage Ratio 1.2.

quarterly reference date

means 31 March, 30 June, 30 September and 31 December.

remittance date

means 12 May, 11 August, 11 November or 11 February.

retail deposits

has the meaning given in Leverage Ratio 1.2.

tier 1 capital

has the meaning given in Leverage Ratio 1.2.

total exposure measure

has the meaning given in Leverage Ratio 1.2.

1.3

Unless otherwise defined, any italicised expression used in this Part and in the CRR has the same meaning as in the CRR.