BANK 3.2.2 Required tier 1 capital on authorisation

An entity must have, at the time it is authorised, tier 1 capital at least equal to the base capital requirement for the activity applied for. The Regulatory Authority will not grant an authorisation unless it is satisfied that the entity complies with this requirement.

Derived from QFCRA RM/2014-2 (as from 1st January 2015).