The Overseas Prudential Requirements Regime (Credit Institutions and Investment Firms) Regulations 2026
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Change 1
9 Treatment of exposures to Gibraltar credit institutions, Gibraltar investment firms, Gibraltar public sector entities and the Gibraltar Government
(1) This regulation applies where a CRR firm or a CRR consolidation entity calculates risk weights for exposures for the purpose of satisfying the own funds requirements specified in article 92 of the Required Level of Own Funds (CRR) Part of the PRA Rulebook. (2) A CRR firm or a CRR consolidation entity may— (a) subject to paragraph (3), treat an exposure to a Gibraltar credit institution or a Gibraltar investment firm as an exposure to an institution for the purpose of applying articles 119 to 121 of the Credit Risk: Standardised Approach (CRR) Part of the PRA Rulebook; (b) treat an exposure to a public sector entity established in Gibraltar as an exposure to a UK public sector entity for the purpose of applying article 116 of the Credit Risk: Standardised Approach (CRR) Part of the PRA Rulebook; (c) assign to exposures to the Government of Gibraltar the risk weight applicable to the Government of the United Kingdom for the purpose of applying article 114 of the Credit Risk: Standardised Approach (CRR) Part of the PRA Rulebook. (3) Paragraph (2)(a) only applies to exposures to a Gibraltar investment firm if the Gibraltar Financial Services Commission treats the exposures to investment firms as exposures to credit institutions. (4) For the purposes of paragraph (2)(b), a public sector entity is established in Gibraltar if either or both of the following apply— (a) the public sector entity is incorporated or formed under the law of Gibraltar; (b) its central management is exercised in Gibraltar. (5) In this regulation— “Gibraltar credit institution” means a person which— has its head office in Gibraltar, and is authorised by the Gibraltar Financial Services Commission to accept deposits under paragraph 3 of Schedule 2 to the Financial Services Act 2019 of Gibraltar; “Gibraltar investment firm” means a person which— has its head office in Gibraltar, and is authorised by the Gibraltar Financial Services Commission to carry on one or more of the activities listed in paragraphs 46 to 56 of Schedule 2 to the Financial Services Act 2019 of Gibraltar; “UK public sector entity” means a public sector entity for which a weight treatment is specified in paragraph 1, 2 or 3 of article 116 of the Credit Risk: Standardised Approach (CRR) Part of the PRA Rulebook.
9 Treatment of exposures to Gibraltar credit institutions, Gibraltar investment firms, Gibraltar public sector entities and the Gibraltar Government
(1) This regulation applies where a CRR firm or a CRR consolidation entity calculates risk weights for exposures for the purpose of satisfying the own funds requirements specified in article 92 of the Required Level of Own Funds (CRR) Part of the PRA Rulebook. (2) A CRR firm or a CRR consolidation entity may— (a) subject to paragraph (3), treat an exposure to a Gibraltar credit institution or a Gibraltar investment firm as an exposure to an institution for the purpose of applying articles 119 to 121 of the Credit Risk: Standardised Approach (CRR) Part of the PRA Rulebook; (b) treat an exposure to a public sector entity established in Gibraltar as an exposure to a UK public sector entity for the purpose of applying article 116 of the Credit Risk: Standardised Approach (CRR) Part of the PRA Rulebook; (c) assign to exposures to the Government of Gibraltar the risk weight applicable to the Government of the United Kingdom for the purpose of applying article 114 of the Credit Risk: Standardised Approach (CRR) Part of the PRA Rulebook. (3) Paragraph (2)(a) only applies to exposures to a Gibraltar investment firm if the Gibraltar Financial Services Commission treats the exposures to investment firms as exposures to credit institutions. (4) For the purposes of paragraph (2)(b), a public sector entity is established in Gibraltar if either or both of the following apply— (a) the public sector entity is incorporated or formed under the law of Gibraltar; (b) its central management is exercised in Gibraltar. (5) In this regulation— “Gibraltar credit institution” means a person which— has its head office in Gibraltar, and is authorised by the Gibraltar Financial Services Commission to accept deposits under paragraph 3 of Schedule 2 to the Financial Services Act 2019 of Gibraltar; “Gibraltar investment firm” means a person which— has its head office in Gibraltar, and is authorised by the Gibraltar Financial Services Commission to carry on one or more of the activities listed in paragraphs 46 to 56 of Schedule 2 to the Financial Services Act 2019 of Gibraltar; “UK public sector entity” means a public sector entity for which a weight treatment is specified in paragraph 1, 2 or 3 of article 116 of the Credit Risk: Standardised Approach (CRR) Part of the PRA Rulebook.
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