What to send to us
If you are a CRR firm you need to send the following information to CRRFirms.regulatorycapital@bankofengland.co.uk:
1. A completed PIN form for CRR firms
2. A copy of the terms and conditions of the capital instrument including any side agreements (in case the terms and conditions are derived from a previous issuance, a marked up copy may speed up our assessment)
3. A current and / or an intended group structure chart
Where applicable (in accordance with the notification requirements for new or subsequent issuances of and amendments to own funds instruments, as set out in Chapters 7A, 7B, and 7C of the Definition of Capital Part of the PRA Rulebook), please enclose:
4. A properly reasoned independent legal opinion from an appropriately qualified individual confirming that the capital instrument meets the conditions for qualification as CET1, AT1 or Tier 2 (as applicable)
5. A Common Equity Tier 1 compliance template completed by an appropriately qualified individual confirming that the capital instrument meets the conditions for qualification as CET1 capital.
6. For AT1 instruments, a properly reasoned accounting opinion by the firm’s auditor on the accounting classification of the instrument
If you are an insurer you need to send the following information to Insurance.regulatorycapital@bankofengland.co.uk:
1. A completed PIN form for insurance firms
2. A copy of the draft terms and conditions of the intended capital resources or own funds instrument
3. For any item other than ordinary shares, a draft of a properly reasoned independent legal opinion from an appropriately qualified individual confirming that the capital instrument meets the conditions for qualification in the intended tier or stage of capital in accordance with Own Funds 5.2(2)(d) or Group Supervision 6.2(2)(f) (Solvency II firms) or Insurance Companies – Capital Resources 3.2(4) (non-Directive firms)
4. For any item intended for inclusion within restricted T1 capital (for Solvency II firms), a draft of a properly reasoned independent accounting opinion from an appropriately qualified individual identifying the instrument’s treatment in the firm or group member’s financial statements in accordance with Own Funds 5.2(2)(e) or Group Supervision 6.2(2)(g)
Submitting the notification to your PRA supervisory contact does not constitute the required notice. Firms may at their discretion copy their PRA supervisor when submitting the notification.