The Overseas Prudential Requirements Regime (Credit Institutions and Investment Firms) Regulations 2026
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Change 1
2 Interpretation
(1) Unless otherwise provided, in these Regulations— “credit institution” has the meaning given in section 417(1) of FSMA 2000 (definitions); “CRR consolidation entity” has the meaning given in the glossary of the PRA Rulebook; “CRR firm” has the meaning given in section 144B(1) of FSMA 2000 (terms used in this Part); “exposure” means an asset or off-balance sheet item; “exposure to an institution” means an exposure which meets the requirements specified in paragraph A1 of article 119 of the Credit Risk: Standardised Approach (CRR) Part of the PRA Rulebook; “intermediate financial holding company” means a financial holding company (as defined in section 417(1) of FSMA 2000) which is not the ultimate parent of the group; “investment firm” has the meaning given in section 424A of FSMA 2000 (investment firm) but it does not include a credit institution; “overseas jurisdiction” means a country or territory outside the United Kingdom; “PRA Rulebook” means the rulebook published by the PRA containing rules made by that Authority under FSMA 2000 as amended from time to time; “public sector entity” has the meaning given in the glossary of the PRA Rulebook; “subsidiary undertaking” has the meaning given in section 1162 of, and Schedule 7 to, the Companies Act 2006 (parent and subsidiary undertakings); “territory” includes the European Union and any other international organisation or authority comprising countries or territories. (2) For the purposes of these Regulations, a public sector entity is established in an overseas jurisdiction if either or both of the following apply— (a) the public sector entity is incorporated or formed under the law of the overseas jurisdiction; (b) its central management is exercised in the overseas jurisdiction.
2 Interpretation
(1) Unless otherwise provided, in these Regulations— “credit institution” has the meaning given in section 417(1) of FSMA 2000 (definitions); “CRR consolidation entity” has the meaning given in the glossary of the PRA Rulebook; “CRR firm” has the meaning given in section 144B(1) of FSMA 2000 (terms used in this Part); “exposure” means an asset or off-balance sheet item; “exposure to an institution” means an exposure which meets the requirements specified in paragraph A1 of article 119 of the Credit Risk: Standardised Approach (CRR) Part of the PRA Rulebook; “intermediate financial holding company” means a financial holding company (as defined in section 417(1) of FSMA 2000) which is not the ultimate parent of the group; “investment firm” has the meaning given in section 424A of FSMA 2000 (investment firm) but it does not include a credit institution; “overseas jurisdiction” means a country or territory outside the United Kingdom; “PRA Rulebook” means the rulebook published by the PRA containing rules made by that Authority under FSMA 2000 as amended from time to time; “public sector entity” has the meaning given in the glossary of the PRA Rulebook; “subsidiary undertaking” has the meaning given in section 1162 of, and Schedule 7 to, the Companies Act 2006 (parent and subsidiary undertakings); “territory” includes the European Union and any other international organisation or authority comprising countries or territories. (2) For the purposes of these Regulations, a public sector entity is established in an overseas jurisdiction if either or both of the following apply— (a) the public sector entity is incorporated or formed under the law of the overseas jurisdiction; (b) its central management is exercised in the overseas jurisdiction.
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