7.1 In respect of applications for permission under this Article, in determining whether the noninterest bearing assets are adequately liquid for the purposes of Article 12(3) paragraph 12(1), the PRA will consider at least the following factors:

(i) the available data in respect of their market liquidity, including trading volumes, observed bidoffer spreads, price volatility, and price impact; and

(ii) other factors relevant to their liquidity, including the historical evidence of the breadth and depth of the market for those non-interest bearing assets, the number and diversity of market participants, and the presence of a robust market infrastructure.