![]() ![]() The scope of what assets can be included as high quality liquid assets is set out by the Article 10(1) of Commission Regulation 2015/61(link is external). ![]() In the case of an entity operating in the UK through a permanent establishment this may mean that a calculation needs to be undertaken for bank levy purposes.ĭetails on what aspects of their regulatory reports a bank who operates in the UK through a permanent establishment may be able to use can be found in BKLM362000 Application for non-EEA banks. For chargeable periods ending on or after 1 October 2016įor the purposes of the bank levy, ‘high quality liquid assets’ means assets which would be treated as Level 1 liquid assets by the Prudential Regulation Authority (PRA).įrom 1 October 2015 the PRA has adopted new European standards to determine the requirements for a bank’s liquid asset buffer and the type of assets which may be included within them.Ī bank may only claim a high quality liquid assets deduction for the holding of assets that would meet the Level 1 criteria of the PRA. Such a direction may, in respect of a particular entity or group, remove certain assets from the list and add certain other assets. * This is subject to any direction made by the FCA in relation to the entity that holds the assets or the relevant group of which they are a member under of FSMA00/S148 to modify the rules around what qualifies as a high quality liquid asset for the entity. in the case of a simplified ILAS BIPRU firm* only, investments in a designated money market fund.reserves in the form of sight deposits with a central bank of the kind specified in BIPRU 12.7.5R and BIPRU 12.7.6R, and.securities issued by a designated multilateral development bank.high quality debt securities issued by a government or central bank.In particular, the scope of what can be included as a high quality liquid asset is set out by the FCA definition at BIPRU 12.7.2R5 and these are essentially: She holds a Bachelor of Commerce in Economics from McGill University and an MBA in Sustainability from York University’s Schulich School of Business.For chargeable periods ending on or before 30 September 2016įor the purposes of the bank levy, ‘high quality liquid assets’ means assets which would be within Section BIPRU 12.7.2(1) to (4) of the FCA Handbook (web)(link is external). Sarah represents RBC Capital Markets on the Advisory Council of the Green and Social Bond Principles Executive Committee and is Vice Chair of the CSA Group Green & Transition Finance Technical Committee. The bank issued its inaugural Green Bond in April 2019 following the publication of its Green Bond Framework outlining the process for Green Bond issuance and reporting. In addition, Sarah partnered with RBC’s Corporate Treasury Group to establish RBC’s Green Bond Program. In 2013, she moved to RBC’s Corporate Sustainability Team to oversee enterprise-wide operational footprint reduction initiatives, produce ESG disclosure and support business units with the development of sustainable financial products and services. Sarah joined RBC in 2011 as the bank’s first Green IT Manager. As part of the Sustainable Finance Group, Sarah works closely with the growing number of corporate and institutional clients globally who view Environmental, Social and Governance (ESG) factors as important considerations in their corporate strategy and investment decision-making process. ![]()
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