Prudential Regulation Authority Rulebook

8.1

A firm must actively manage its liquidity risk exposures and related funding needs and take into account:

1. (1) existing legal, regulatory and operational limitations to potential transfers of liquidity and unencumbered assets amongst entities, both within and outside the UK; and
   [Note: Art. 86(6) of the CRD]
2. (2) any other constraints on the transferability of liquidity and unencumbered assets across business lines, countries and currencies.