Groups and Level of Application

PRA Rules, Waivers and Modifications of Consent

Rules governing the level of application are set out in individual Parts of the PRA rulebook

• Groups
• Group Risk Systems
• Group Financial Support 
• Internal Capital Adequacy Assessment  (Rule 14.10)
• Waivers Transitional Provisions (See Schedule 2)
• Designation
• Modification by consent of fitness and propriety

UK legislation

• Application of requirements on an individual basis – Capital Requirements Regulation (EU) No 575/2013 (Part One, Title II, Chapter 1)

• Prudential consolidation – Capital Requirements Regulation (EU) No 575/2013 (Part One, Title II, Chapter 2)
  
  NB: For the below areas, level of application requirements are included in the relevant PRA rules:

• Disclosure (CRR) 
• Large Exposures (CRR) 
• Leverage Ratio (CRR)
• Liquidity (CRR) 
• Liquidity Coverage Ratio (CRR) 
• Reporting (CRR) 

• Approval of certain Holding Companies - Financial Services and Markets Act 2000 (Part 12B)

UK technical standards

• Description of group financial support agreements - Commission Delegated Regulation (EU) 2016/911, as amended, including by the Technical Standards (Bank Recovery and Resolution Directive) (EU Exit) (No.2) Instrument 2019, Annex A

Supervisory Statements and Statements of Policy

• Groups (SS15/13)  
• The power of direction over qualifying parent undertakings (Statement of Policy)
• Supervisory measures and penalties in relation to financial holding companies (Statement of Policy)

Material on Double Leverage and Group Risk:

• The Internal Capital Adequacy Assessment Process (ICAAP) and the Supervisory Review and Evaluation Process (SREP) SS31/15, paragraphs 2.16-2.16G (Group Risk), 3.29 to 3.33 (Double Leverage) and 5.5 (SREP)
• The Prudential Regulation Authority’s approach to banking supervision (Approach Document, paragraphs 74 and 75).  
• The PRA’s methodologies for setting Pillar 2 capital (Statement of Policy, Section 8A (Group risk) and paragraphs 9.11-9.12 and 9.39 (PRA buffer))
• The PRA’s approach to supervising funding and liquidity risks (SS24/15, paragraphs 2.35 – 2.35AA).