The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 No. 410

SCHEDULE 2 U.K. BANKING COMPANIES: COMPANIES ACT INDIVIDUAL ACCOUNTS

PART 2 U.K. ACCOUNTING PRINCIPLES AND RULES

SECTION D U.K. FAIR VALUE ACCOUNTING

The fair value reserve U.K.

49.—(1) The fair value reserve must be adjusted to the extent that the amounts shown in it are no longer necessary for the purposes of paragraph 48(3) or (4).

(2) The treatment for taxation purposes of amounts credited or debited to the fair value reserve must be disclosed in a note to the accounts.