UK regulator revises P2A requirements in Brexit transition

By David Freitas
08 Jul 2020

In a response to feedback from UK financial institutions, the Prudential Regulation Authority has said it will assess the appropriateness of any reduction in Pillar 2A (P2A) requirements so that the buffer provides a fair measure of the risks facing banks as the UK prepares to leave the EU.

The PRA said it was ready to apply a P2A reduction where applicable by December at the latest.

The policy statement was published after the regulator received 10 responses to a consultation paper on the reconciliation of capital requirements and macroprudential buffers.

“The PRA will assess the appropriateness ...

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