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Home > Prudential Regulation Authority > Strengthening Capital Standards: Implementing CRD IV - CP 5/13
 

Strengthening Capital Standards: Implementing CRD IV - CP 5/13

01 August 2013

The Policy Statement and Supervisory Statements relating to this Consultation Paper were issued on 19 December 2013 - see Strengthening capital standards: implementing CRD IV, feedback and final rules - PS 7/13.

​​Background

In June 2013 the European Union published legislation to implement within the EU “Basel III”, the international regulatory framework for banks developed by the Basel Committee on Banking Supervision. From 1 January 2014 this will replace the current capital requirements directives with two new legislative instruments: the Capital Requirements Directive (CRD) and the Capital Requirements Regulation (CRR), collectively known as CRD IV. 
 
In this consultation the Prudential Regulation Authority (PRA) sets out the proposed changes to its rules to implement CRD IV. It also sets out proposed supervisory statements, giving more information on the PRA’s approach to certain CRD IV provisions. Banks, building societies and PRA designated investment firms are affected by these proposals.
 
Summary of the key issues covered by the consultation paper
 
The consultation seeks views on:
 
  • how the PRA is planning to operate discretions and derogations provided under the CRR;
  • how the PRA is planning to operate the transitional provisions provided under CRD and CRR;
  • how the PRA is intending to transpose the obligations in CRD into rules;
  • the content of the draft Supervisory Statements;
  • the deletion or disapplication of existing PRA rules as part of CRD IV implementation; and
  • specific questions set out in individual chapters of the CP regarding proposals on pillar 2, credit risk, market risk and Large Exposures. 

Response

This consultation closed on 2 October 2013.
 
Consultation Paper
 
 
 
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