Section 40(8)

In paragraph (7)— “branch” has the meaning given in point (17) of Article 4.1 of the capital requirements regulation; and “significant branch” shall be construed with regard, in particular, to the following— whether the market share of the branch in terms of deposits exceeds 2% in the third country; the likely impact of a suspension or closure of the operations of the institution on systemic liquidity and the payment, clearing and settlement systems in the third country; the size and importance of the branch in terms of number of clients within the context of the banking or financial system of the third country.

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Source: legislation.gov.uk · retrieved 2026-09-04