Prudential Regulation Authority Rulebook

2.1

An institution that is not a parent undertaking or a subsidiary or included in the consolidation pursuant to Article 18 of the CRR shall comply with this Part on an individual basis.

[Note: rule 2.1 sets out an equivalent provision to Article 6(1) and the first subparagraph of Article 6(3) of the CRR that apply to this Part]

2.2

The institutions referred to in Article 6(1a) of the CRR and institutions that are material subsidiaries of non-UK G-SIIs and are not resolution entities or subsidiaries of a UK parent institution shall comply with Article 437a and point (h) of Article 447 on an individual basis.

[Note: rule 2.2 sets out an equivalent provision to the second subparagraph of Article 6(3) of the CRR that applies to this Part]

2.3

Large subsidiaries of UK parent institutions, UK parent financial holding companies or UK parent mixed financial holding companies and large subsidiaries of parent undertakings established in a third country shall disclose the information specified in Articles 437, 438, 440, 442, 450, 451, 451a and 453 on an individual basis or on a sub-consolidated basis.

[Note: rule 2.3 corresponds to the second subparagraph of Article 13(1) of the CRR as it applied immediately before revocation by the Treasury and sets out an equivalent provision to the second subparagraph of Article 13(3) of the CRR that applies to this Part]

2.4

A UK parent institution shall comply with this Part on the basis of its consolidated situation.

[Note: rule 2.4 corresponds to the first subparagraph of Article 13(1) of the CRR as it applied immediately before revocation by the Treasury]

2.5

Rule 2.4 shall not apply to a CRR consolidation entity or a resolution entity where it is included in an equivalent disclosure on a consolidated basis provided by a parent undertaking established in a third country.

[Note: rule 2.5 sets out an equivalent provision to the first subparagraph of Article 13(3) of the CRR that applies to this Part]

2.6

An institution identified as a resolution entity that is a G-SII or that is part of a G-SII shall comply with Article 437a and point (h) of Article 447 on the basis of the consolidated situation of its resolution group.

[Note: rule 2.6 corresponds to Article 13(2) of the CRR as it applied immediately before revocation by the Treasury]

2.7

For the purposes of applying this Part on a consolidated basis, the terms "institution" and "UK parent institution" shall include a CRR consolidation entity (if it would not otherwise have been included).

[Note: rule 2.7 sets out an equivalent provision to Article 11(2) of the CRR that applies to this Part]

2.8

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 "consolidated situation" is defined in Article 4(1)(47) of the CRR.]

2.9

An institution that is required to comply with Parts Two and Three of the CRR on a sub-consolidated basis shall comply with this Part on the same basis.

[Note: rule 2.9 sets out an equivalent provision to Article 11(6) of the CRR that applies to this Part]

2.10

An LREQ firm shall comply with:

1. (a) the standard leverage disclosure requirements on the LREQ basis and any other basis on which this Part applies to the LREQ firm under rules 2.1 to 2.9;
2. (b) the additional leverage disclosure requirements on the LREQ basis only.