Context
UKGI has received a communication from the APCC who had contacted the FCA (following feedback from members) requesting clarification on Question 2 in the latest round of financial resilience surveys.
Key points to note
- The question asks “2. What are your estimated cash needs (fixed costs, known variable costs) and expected cash inflows between 1st March and 31st May 2022? (GBP). Please report the actual number and not in thousands of millions. The value should be in GBP as per the exchange rate on 31st May 2022.”
- The FCA have confirmed the correct dates for this question should be 1st June to 31st August 2022.
Next actions
We advise that you take note of the above clarification when completing the questionnaire on behalf of your firm.