12.1 Application to a Financial Group

(1) A Bank, which is a member of a Financial Group, according to Chapter 10 of BBR, must ensure that the detailed disclosures specified in Chapter 12 of the BPG are made on a consolidated basis, at the level of the Financial Group.

(2) A Bank which is a Subsidiary of a regulated bank or financial institution or another Bank, which is already subject to equivalent public disclosure requirements, does not need to comply with the requirements in this Chapter to the extent that it meets those equivalent public disclosure requirements.