1. A CSD must hold its financial assets at any one or more of the following kinds of institution:

(a) central banks;

(b) credit institutions with permission to accept deposits under Part 4A of FSMA [2000 c.8. Part 4A was inserted by section 11 of the Financial Services Act 2012 (c.21).];

(c) CSDs and third-country CSDs recognised by the competent authority;

(d) third-country financial institutions that are subject to and comply with asset protection and prudential rules considered by the competent authority to be at least as stringent as those laid down in Directive 2013/36/EU UK law, Regulation (EU) No. 575/2013 and CRR rules, and which the CSD assesses as having -

(i) robust accounting practices;

(ii) safekeeping procedures;