5A
Transitional Plan to Reduce the Scope of the Model
5A.1
Where a firm is failing or likely to fail to satisfy the requirements in 5B.1, 10.3, or Solvency Capital Requirement - General Provisions 5.1, the firm must be able to, upon request by the PRA, submit a realistic transitional plan to reduce the scope of its internal model, such that the internal model no longer covers:
- (1) the risks contained in one or more major business units; or
- (2) certain sub-modules of a specific risk module, or some of the business units of the firm with respect to a specific risk module, or parts of both,
in respect of which deficiencies arise.
- 31/12/2024