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Division B REDUCTION OF BALANCE SHEET TOTAL/RESTRICTION OF BUSINESS ACTIVITIES

United Kingdom

Original text. Later amendments are not shown.

  1. 4Division 4
  2. 5Division 5
  3. 6[Restriction of business activities—core business] In the core business of the following business areas, the following restrictions will be observed, the aim being that only business with a link to Germany should be conducted. The term ‘with a link to Germany’ means that (i) the customer or its parent or a significant subsidiary has its registered office in Germany; or (ii) the business involves financing for trade or financing relating to exports involving […] risk insurance (e.g. an export credit agency), and the customer receiving the financing is an offtaker of a customer with a link to Germany as defined at (i) above; or (iii) the project to be financed is located in Germany, or one or more customers with a link to Germany as defined at (i) above are involved in the project either as offtakers of the goods or raw materials to be produced or as users by virtue of purchase or transfer-of-use contracts, or hold at least a [15-50] % ownership share in the project company, or have undertaken to supply more than [30-70] % of the supplies for the project that are to be financed; or (iv) in the international real estate business, the customer holds substantial German assets in its portfolio.
  4. 7[Overruns] With respect to the RWA ceilings laid down in point 6(a) to (c):
  5. 8[Closure of business activities] The following areas no longer form part of the core business and will be closed: