Identification of O-SIIs
This section has no associated Explanatory Memorandum
31.—(1) In order to assess whether a particular body (“the relevant body”) is an O-SII, the PRA must base its assessment on the systemic importance of the relevant body on an individual, sub-consolidated or consolidated basis.
(2) The assessment of systemic importance must include a consideration of one or more of the following criteria—
(a)the size of the relevant body;
(b)the importance of the relevant body to economy of the United Kingdom or the European Union;
(c)the significance of the relevant body’s cross-border activities; and
(d)the interconnectedness of the relevant body, or the group to which it belongs, with the financial system.