Annex 2
Non-exhaustive list of possible directions which the PRA may consider making
Directions which may be made by the PRA may include, but are not limited to:
- A requirement to meet specific prudential rules applied at the consolidated level.
- A requirement to improve the system of governance or controls at group level and/or in relation to subsidiary undertakings (including non-UK subsidiaries) where this is necessary for effective consolidated supervision.
- A restriction on dividend payments, or other payments regarding capital instruments, in order to retain capital in the group.
- A requirement to move funds or assets around the group to more appropriately address risks.
- A requirement for the group to be restructured in order to make it more supervisable.
- A requirement to stop or impose restrictions on an acquisition or divesture (taking account of any potential conflict with takeover rules).
- A requirement to ensure the continuity of service is provided between relevant group entities.
- A requirement to include entities (including shadow banking entities, where appropriate) in consolidated calculations.
- A requirement to raise new capital.
- A requirement to take steps to facilitate the removal from office of directors of the parent undertaking who do not meet the PRA’s expectations as regards being fit and proper to direct a holding company.
- A requirement to remove barriers to resolution.
- A requirement to issue debt suitable for bail-in.
- 01/04/2013