[(1) [The FCA] must not disclose to any person specially protected information.
(2) “Specially protected information” is information in relation to which the first and second conditions are met.
(3) The first condition is that [the FCA received the information from the Bank of England].
(4) The second condition is that the Bank notified the [FCA] that the Bank held the information for the purpose of its functions with respect to any of the following—
(a) monetary policy;
(b) financial operations intended to support financial institutions for the purposes of maintaining stability;
(c) the provision of private banking services and related services.
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This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
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