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Home > Prudential Regulation Authority > Large Exposures - SS16/13
 

Large Exposures - SS16/13

19 December 2013
Update 4 October 2017: Updates to this SS are currently being consulted on as part of CP20/17 ‘Changes to the PRA’s large exposures regime’. The version of SS16/13 that will take effect from 1 January 2019 (see below) will be updated when the final policy following CP20/17 is published.

Update:
On 7 July 2016, this supervisory statement was updated following publication of Policy Statement 20/16 ‘The implementation of ring-fencing: prudential requirements, intragroup arrangements and use of financial market infrastructures’ which included final ring-fencing rules and Supervisory Statement 8/16 ‘Ring-fenced bodies (RFBs)’. Specifically, paragraph 1.3 has been updated to take into account SS8/16, paragraph 2.4 has been updated to take into account the PRA’s objectives with respect to RFBs, and paragraph 3.10 has been added to set out expectations for RFBs wishing to apply for permission to apply a 0% risk weight to certain exposures under CRR Article 113(6). The updated SS will take effect from 1 January 2019 and is available for information on the 'Supporting materials – ring-fencing’ webpage.


This supervisory statement is aimed at firms to which CRD IV applies. It outlines the PRA’s expectations in relation to large exposures requirements within the CRR. It covers:

  • Applications to include undertakings within a core UK group (CRR Article 113(6)) and non-core large exposure group (CRR 400(2)(c))
  • Sovereign large exposures exemptions (CRR Article 400(2)(g or h)) and exposures to trustees.

This statement should be read in conjunction with the specified CRR articles, the requirements in the Large Exposures Part of the PRA Rulebook and the high-level expectations outlined in the PRA’s approach to banking supervision.

Supervisory statement

Large Exposures - SS16/13 

 

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