Glossary

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Term Definition Legal instruments

group financial support agreement

31/12/2020

THIS DEFINITION ONLY APPLIES TO THE GROUP FINANCIAL SUPPORT PART

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

means an agreement between:

(1) a UK parent institution, or a qualifying parent undertaking, a financial holding company, a mixed financial holding company or a mixed-activity holding company established in the UK; and

(2) a subsidiary of an entity referred to in (1) set up in a third country and that is an institution or a financial institution covered by the consolidated supervision of the entity referred to in (1),

to provide financial support to a party that is an institution at a time when that institution meets the conditions for early intervention.

Instruments