10.1 This section sets out the PRA's proposals in relation to the levels of application for the leverage ratio capital requirement and buffers. These proposals would amend the Leverage Ratio Part of the PRA Rulebook, which would be renamed the Leverage Ratio - Capital Requirements and Buffers Part.
10.2 In line with the FPC's proposed direction, the PRA proposes to apply the leverage ratio capital requirement and buffers to firms in scope - ie those meeting either threshold in the previous section at the following levels:
(i) on a consolidated basis to CRR consolidation entities, including holding companies for a UK consolidation group;
(ii) on a sub-consolidated basis in respect of a ring-fenced sub-group; or
(iii) in all other cases, to firms on an individual basis.
10.3 In addition, and in line with the FPC proposal and the FPC's considerations around financial stability and market functioning, the PRA proposes that case-by-case sub-consolidation be available as an alternative to in
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