PRU A4.11.6

(1) A single group of Closely Related Counterparties means, in relation to an Authorised Person, all the Persons to which the Authorised Person has an Exposure and which are Closely Related to each other.
(2) An Authorised Person must treat two or more Persons as falling within a group of Closely Related Counterparties if the Authorised Person has Exposures to them all and any loss to the Authorised Person on any of the Exposures to one is likely to be associated with a loss to the Authorised Person with respect to at least one Exposure to each of the others.