Prudential Regulation Authority Rulebook

3.1

An SDDT means a UK bank or building society to which the PRA has given a waiver modifying the effect of this rule such that the UK bank or building society is an SDDT.

3.2

An SDDT consolidation entity means a CRR consolidation entity to which the PRA has given a waiver modifying the effect of this rule such that the CRR consolidation entity is an SDDT consolidation entity.

3.3

If a firm consents to a waiver modifying 3.1 such that the firm becomes an SDDT, the firm must certify to the PRA that, as of the day of giving the consent, the firm meets the SDDT criteria.

3.4

If an SDDT ceases to meet the SDDT criteria, it must notify the PRA within the period of 14 days beginning with the day on which the firm ceases to meet the SDDT criteria.

3.5

If a CRR consolidation entity consents to a waiver modifying 3.2 such that the CRR consolidation entity becomes an SDDT consolidation entity, the CRR consolidation entity must certify to the PRA that, as of the day of giving the consent, the SDDT consolidation criteria are satisfied.

3.6

If the SDDT consolidation criteria cease to be satisfied, the SDDT consolidation entity must notify the PRA within the period of 14 days beginning with the day on which the SDDT consolidation criteria cease to be satisfied.