(1) In order to identify whether a particular group or body ("the relevant institution") is a G-SII, the PRA must apply an identification methodology to the relevant institution on a consolidated basis.

(2) Where the parent undertaking of the relevant institution is a UK parent institution, a UK parent financial holding company or a UK parent mixed financial holding company, the identification methodology must be applied in accordance with Commission Delegated Regulation (EU) No 1222/2014 or any technical standards made by the PRA under the functions conferred on it by Article 464B(3) of the capital requirements regulation.

(3) The identification methodology must be based on the following criteria -

(a) the size of the group concerned;

(b) the interconnectness of the group within the financial system;

(c) the extent to which an entity or entities outside the group could provide the services or financial infrastructure which the group provides;

(d) the complexity of the group;

(e) the extent of the group's cross-border activity.

(4) Each criteria in the identification methodology must consist of quantifiable indicators and be given an equal weighting.