Post EU withdrawal

The UK’s withdrawal from the EU is a large and complex process that has significant implications for the way we discharge our responsibilities.

Our work on EU withdrawal

The United Kingdom’s withdrawal from the European Union is a large and complex process that has significant implications for the way we discharge our responsibilities. Many parts of the Bank have worked closely together to assess the potential impact of EU withdrawal on our policy objectives of monetary and financial stability.

Our latest EU withdrawal updates

20 October 2021: We published PS23/21 ‘Credit risk: The identification of the nature, severity, and duration of an economic downturn for the purposes of Internal Ratings Based (IRB) models’, relevant to UK banks, building societies, and PRA-designated UK investment firms. The implementation date for the policy changes resulting from this PS will be Saturday 1 January 2022.

23 September 2021: We published ‘Exercise by the Bank of England and Prudential Regulation Authority of sub-delegated powers under the European Union (Withdrawal) Act 2018’, which explains how we used sub-delegated powers under the Act in the financial year ending 28 February 2021.

Our key communications

Our work in relation to EU withdrawal is covered in further detail in a number of Bank regular publications, including our Monetary Policy Report, Financial Stability Report, speeches and annual reports

In addition, we have also made a number of communications to firms on EU withdrawal. These are covered in the list below.

This page was last updated 17 November 2021

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