Prudential Regulation Authority Rulebook

5.1

In determining whether an item of capital qualifies as a Common Equity Tier 1 item, an Additional Tier 1 item or a Tier 2 item a firm must take into account any connected transaction which, when taken together with the item of capital, would cause it not to display the characteristics of a Common Equity Tier 1 item, an Additional Tier 1 item or a Tier 2 item.

5.2

A firm must report to the PRA all connected transactions described in 5.1 at least 30 days in advance of entry into the relevant transaction and identify each relevant transaction with sufficient detail to allow the PRA to evaluate it.