Localisation and Deposit of Assets | Prudential Regulation Authority Handbook & Rulebook
Prudential Regulation Authority Rulebook

Prudential Regulation Authority Rulebook

Part

Third Country Branches

Chapter

Localisation and Deposit of Assets

Printed on: 09/07/2025

Rulebook at: 15/05/2024


3

Localisation and Deposit of Assets

3.1

A third country branch undertaking (except a third country branch undertaking that has a third country pure reinsurance branch) must hold in the UK assets required to cover the branch SCR.

  • 31/12/2020

3.2

[Deleted.]

  • 31/12/2020

3.3

A third country branch undertaking (except a third country branch undertaking that has a third country pure reinsurance branch) must hold on deposit as security in the UK with a CRD credit institution assets of an amount equal to at least one quarter of the absolute floor of the MCR set out in Minimum Capital Requirement 3.2.

[Note: Art. 162(2), Art. 166(4), Art. 167(1) and (2) of the Solvency II Directive]

  • 31/12/2020