Template:CASS Section 7.1.8A

In relation to the application of the client money rules (and any other rule in so far as it relates to matters covered by the client money rules) to the firms referred to in (1) and (2), the following is not client money:

(1) any deposits within the meaning of the CRD held by a CRD credit institution; and

(2) any money held by an approved bank that is not a CRD credit institution in an account with itself in relation to designated investment business carried on for its clients.