PART 9Minimum requirement for own funds and eligible liabilities
CHAPTER 5Determination of minimum requirements for group institutions where neither the PRA nor the FCA is the consolidating supervisor
Duties of the Bank in relation to minimum requirement141
1
The Bank must exercise the powers conferred by section 3A of the Banking Act 2009—
a
to ensure that a UK institution is required at all times to maintain a minimum requirement; and
b
with the object of ensuring that at all times the institution meets the minimum requirement specified in a direction given for that purpose.
2
The Bank must—
a
make a provisional determination of the minimum requirement for each UK institution;
b
give notice of that provisional determination to the group-level resolution authority and other resolution authorities for non-UK institutions;
c
endeavour within the college to determine jointly with those authorities the minimum requirements for each UK institution and each non-UK institution.
3
The Bank must inform EBA of the minimum requirement determined for each UK institution.