Basis of Application - Prudential Regulation Authority

Application provision

1.1 Unless otherwise stated, this Part applies to:

(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:

(a) an individual basis;
(b) if the firm is a parent institution in a Member State, on the basis of its consolidated situation; or
(c) if the firm is controlled by a parent financial holding company in a Member State or by a parent mixed financial holding company in a Member State and the PRA is responsible for supervision of that holding company on a consolidated basis under Article 111 of the CRD, on the basis of the consolidated situation of that holding company; and

(2) a ring-fenced body that is a member of a group containing a firm falling within 1.1(1).

1.1 Unless otherwise stated, this Part applies to:

(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:

(a) an individual basis;
(b) if the firm is a parent institution in a Member State, on the basis of its consolidated situation; or
(c) if the firm is controlled by a parent financial holding company in a Member State or by a parent mixed financial holding company in a Member State and the PRA is responsible for supervision of that holding company on a consolidated basis under Article 111 of the CRD, on the basis of the consolidated situation of that holding company; and

(2) a ring-fenced body that is a member of a group containing a firm falling within 1.1(1).

2.1

01/01/2016

A firm that is not a member of a consolidation group in relation to which 2.2 or 2.3 applies must comply with this Part on an individual basis.

2.2

01/01/2016

A firm that is a parent institution in a Member State must comply with this Part on the basis of its consolidated situation.

2.3

01/01/2016

A firm that is controlled by a parent financial holding company in a Member State or a parent mixed financial holding company in a Member State for which the PRA is responsible for supervision on a consolidated basis under Article 111 of the CRD must comply with this Part on the basis of the consolidated situation of that holding company.

2.4

01/01/2019

A ring-fenced body must comply with this Part on an RFB sub-consolidated basis whether or not under 2.2 or 2.3 it also applies to the ring-fenced body on a consolidated basis.