# The Financial Conglomerates and Other Financial Groups Regulations 2004, Regulation 20


(1) In respect of the application of—
(a) the PRA Rulebook, Financial Conglomerates Annex 1 Threshold Test 1 and 2, or
(b) the Threshold Test 1 and 2 of Annex 4 of Chapter 3 of the FCA General Prudential sourcebook;
if the ratios referred to in those rules fall below 40% and 10% respectively for conglomerates already subject to supplementary supervision, a lower ratio of 35% and 8 % respectively will apply for the following three years.
(2) In respect of the application of—
(a) the PRA Rulebook, Financial Conglomerates Annex 1 Threshold Test 3, or
(b) the Threshold Test 3 of Annex 4 of Chapter 3 of the FCA General Prudential sourcebook,
if the balance sheet total of the smallest financial sector in the group falls below EUR 6 billion for conglomerates already subject to supplementary supervision, a lower figure of EUR 5 billion must apply for the following three years.
(3) During the period which paragraph (2) applies, the co-ordinator may, with the agreement of the other relevant competent authority, decide that the lower ratios or the lower amount referred to in this regulation must cease to apply.

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Source: https://www.legislation.gov.uk/uksi/2004/1862/regulation/20 (the official version)
Page: https://openlegislation.uk/financial-conglomerates-and-other-financial-groups-regulations-2004/regulation-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.