Prudential Regulation Authority Rulebook

12.1

This Chapter applies to UK banks that do not carry out insurance business acting as principal in accordance with a Part 4A permission.

12.2

A firm must notify the PRA within 30 days after it becomes aware, or has information which reasonably suggests, that any of the following has occurred:

1. (1) if the firm is not in a group, its total core deposits:
1. (a) have increased over £25 billion; or
2. (b) have decreased to less than or equal to £25 billion,
2. (2) if the firm is in a group, the sum of core deposits of all relevant group members:
1. (a) has increased over £25 billion; or
2. (b) has decreased to less than or equal to £25 billion.

12.3

A firm must notify the PRA promptly, but in any event within 30 days, if it reasonably expects or has information that reasonably suggests that it will cease to meet or that it will start to meet the core deposit level condition within the next three years.

12.4

A ring-fenced body must notify the PRA within 30 days after acquiring shares under an exception in Article 6(4)(e) of the Excluded Activities and Prohibitions Order or after disposing of shares held under one of those exceptions.

12.5

A ring-fenced body must notify the PRA within 30 days after using the exception provided for in Article 6(4)(f) of the Excluded Activities and Prohibitions Order.

12.6

The notification in 12.5 must specify the product type and the value of any relevant investments.

12.7

A ring-fenced body must notify the PRA within 30 days after the date on which it becomes aware that an exposure is a financial institution exposure which would be prohibited but for the exception provided for in Article 19B of the Excluded Activities and Prohibitions Order.

12.8

The notification in 12.7 must specify:

1. (a) the date on which the exposure became a financial institution exposure; and
2. (b) the value of the financial institution exposure.

12.9

A ring-fenced body must notify the PRA within 30 days after closing a financial institution exposure which would be prohibited but for the exception provided for in Article 19B of the Excluded Activities and Prohibitions Order.