Prudential Regulation Authority Rulebook

2.1

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

2.1A

Where a firm has been given permission under Article 9(1) of the CRR it shall incorporate relevant subsidiaries in the calculation undertaken to comply with rule 2.1.

2.2

A CRR consolidation entity must comply with this Part on the basis of its consolidated situation.

2.2A

The expression “consolidated situation” applies for the purposes of this Part as it does for the purposes of Parts Two and Three of the CRR.

[Note: the term “consolidation situation” is defined in Article 4(1)(47) of the CRR]

2.2B

For the purposes of 2.2, references to a firm in this Part (other than in 1.1) include a CRR consolidation entity.

2.3

[Deleted]

2.4

A ring-fenced body which is required to comply with Parts Two and Three of the CRR on a sub-consolidated basis, must comply with this Part on the same basis.