PRU 3.19.9

Past version: effective from 20/02/2020 - 19/02/2020
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Where an Authorised Person fails to meet the Combined Buffer Requirement, it must prepare a capital conservation plan and submit it to the Regulator no later than five business days after it identified its failure to meet the Combined Buffer Requirement. The capital conservation plan must include the following:

(a) estimates of income and expenditure and a forecast balance sheet;
(b) measures to increase the CET1 Capital of the Authorised Person;
(c) a plan and timeframe for the increase of CET1 Capital with the objective of restoring the Combined Buffer; and
(d) any other information the Regulator might need in order to carry out its considerations referred to in Rule 3.19.10 effectively.