News & Analysis as of

United Kingdom Basel III Financial Institutions

A&O Shearman

UK PRA extends Phase 1 Pillar 2A review consultation and defers implementation of certain risk areas

A&O Shearman on

The UK Prudential Regulation Authority (PRA) has announced an extension to the consultation period for CP12/25 which sets out Phase 1 of its Pillar 2A review. The consultation was originally published on 22 May. In response...more

A&O Shearman

BCBS report on interconnections between banks and NBFIs

A&O Shearman on

The Basel Committee on Banking Supervision (BCBS) has released a horizon-scanning report examining the interconnections between banks and non-bank financial intermediaries (NBFIs)...more

A&O Shearman

GHOS Meeting: Basel III implementation and climate-related financial risks

A&O Shearman on

The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision (BIS), met to discuss the implementation of Basel III and its work on climate-related...more

A&O Shearman

PRA Dear CFO letter: prudential expectations on significant risk transfer financing

A&O Shearman on

The Prudential Regulation Authority (PRA) has published a Dear CFO letter outlining its prudential expectations regarding practices related to illiquid and structured financing portfolios. The PRA focuses on significant risk...more

Skadden, Arps, Slate, Meagher & Flom LLP

PRA 2025 Supervisory Priorities: International Banks and UK Deposit Takers

On 21 January 2025, the UK’s Prudential Regulation Authority (PRA) published two supervisory letters outlining 2025 priorities for international banks and UK deposit takers, respectively. In this note, we look at some of the...more

A&O Shearman

UK delays the implementation of Basel 3.1

A&O Shearman on

The Prudential Regulation Authority has announced that, in consultation with HM Treasury, it has decided to delay the implementation of Basel 3.1 in the U.K. by one year until January 1, 2027. The PRA explains that it has...more

Cadwalader, Wickersham & Taft LLP

UK Banking and Insurance Regulation Update

The UK’s Prudential Regulation Authority ("PRA") has recently published various statements regarding its current approach to its regulation of banking in the UK, including delaying implementation of Basel 3.1 rules....more

Sullivan & Worcester

Prudential Regulatory Authority delays UK implementation of Basel 3.1 to 2027

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In response to global uncertainty the Bank of England’s Prudential Regulation Authority (PRA) has further delayed the implementation of the Basel 3.1 standards in the UK to 1 January 2027. This delay comes just four months...more

A&O Shearman

Draft UK Prudential Regulation of Credit Institutions (Meaning of CRR Rules and Recognised Exchange) (Amendment) Regulations 2024...

A&O Shearman on

The draft U.K. Prudential Regulation of Credit Institutions (Meaning of CRR Rules and Recognised Exchange) (Amendment) Regulations 2024 have been published, together with an explanatory memorandum. The purpose of the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Basel 3.1 Implementation in the UK: An Update on PRA Reforms

On 12 December 2023, the UK Prudential Regulation Authority (PRA) published the first of two near-final policy statements on the implementation of revisions to the Basel 3 standards, known in the U.K. as Basel 3.1. This...more

Cadwalader, Wickersham & Taft LLP

The UK’s Banking Regulator Consults on the First Draft of Final Rules for Aspects of Basel 3.1

The Prudential Regulation Authority ("PRA") has published its near-final policy statement (the "PS") setting out feedback to seven chapters of its consultation paper 16/22 (CP16/22) on implementation of the final elements of...more

Cadwalader, Wickersham & Taft LLP

The UK’s PRA Discusses Securitisation Capital Requirements and Basel 3.1

The UK’s banking regulator, the Prudential Regulation Authority (“PRA”) has published a Discussion Paper (DP3/23) covering securitisation bank capital in the context of: (1) the Basel 3.1 output floor and capital requirements...more

Cadwalader, Wickersham & Taft LLP

UK Announces Changes to Basel 3.1 Dates

The UK’s banking regulator, the Prudential Regulation Authority (“PRA”) has announced its intention to move the implementation date of the final Basel 3.1 policies by six months to 1 July 2025 and commensurately reduce the...more

Hogan Lovells

From Basel (III) to Brussels: no direct train service for securitisation capital requirements

Hogan Lovells on

The EU has surged ahead of the UK and the US in implementing the Basel III standards. The EU Banking Package has been reviewed by the Council of the EU and is now expected to be negotiated with the European Parliament, ahead...more

Hogan Lovells

Banking and finance regulatory news, July 2021 #3

Hogan Lovells on

UK CRR: Draft Capital Requirements Regulation (Amendment) Regulations 2021 A draft version of the Capital Requirements Regulation (Amendment) Regulations 2021 has been published, together with a draft explanatory memorandum....more

Hogan Lovells

Financial institutions general regulatory news, February 2021 # 2

Hogan Lovells on

UK and Switzerland to deepen cooperation on financial services - HM Treasury has published a press release announcing plans to move forward to the next stage of talks between the UK and Switzerland on an agreement on...more

Hogan Lovells

Banking and finance regulatory news, December 2020 # 3

Hogan Lovells on

UK SRR code of practice - HM Treasury has published a revised version of the Banking Act 2009 special resolution regime (SRR) code of practice which applies to the use of the SRR after the end of Brexit transition period....more

Hogan Lovells

Banking and finance regulatory news, April 2020

Hogan Lovells on

COVID-19: PRA letter to credit unions and direction modifying minimum provisioning requirements - On 8 April 2020, the Prudential Regulation Authority (PRA) published a letter to directors, staff members and volunteers of...more

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