Capital Requirements Directive

The Capital Requirements Directive covers prudential rules for banks, building societies and investment firms.

This page explains our implementation of these rules and also provides updates on our prudential policies for banks, building societies and designated investment firms.

Background

In May 2019, the European Union (EU) published legislation to implement, within the EU, some of the remaining Basel III prudential reforms agreed by the Basel Committee on Banking Supervision (BCBS). This legislation, known as CRD V (Directive (EU) 2019/878) and Capital Requirements Regulation (CRR) II (Regulation (EU) 2019/876), amended CRD IV (Directive (EU) 2013/36) and CRR (Regulation (EU) 575/2013) respectively.

We implemented elements of CRD V and the final policy was published in PS29/20 ‘Capital Requirements Directive V (CRD V)'.

Latest CRD updates

12 January 2022: We published a letter from Nathanael Benjamin and Rebecca Jackson on the PRA’s 2022 priorities for international banks, and a letter from David Bailey and Melanie Beaman on the PRA’s 2022 priorities for UK deposit takers

21 December 2021: On Tuesday 21 December, in accordance with regulation 26(4) of the Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014/894 (as amended), we disclosed the 2021 list of UK headquartered Global Systemically Important Institutions (G-SIIs). We also disclosed their respective sub-categories, applicable scores and G-SII buffers.

The 2021 UK G-SIIs and their sub-category allocations are as follows:

G-SII  Sub-category  Score  G-SII buffer rate 
HSBC Holdings Plc  369  2% 
Barclays Plc  250  1.5% 
Standard Chartered Plc  130  1% 

These buffers will apply from Sunday 1 January 2023. The list of G-SIIs and their sub-category allocations will be updated annually.

15 December 2021: We published PS27/21 ‘Designating investment firms’, relevant to all PRA-designated UK investment firms. The policy presented in this PS will take effect on Saturday 1 January 2022.

30 November 2020: We published our 2021 list of UK firms designated as other systemically important institutions (O-SIIs), as required under Part 5 of the Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014 (SI 2014/894). We are required to identify O-SIIs on an annual basis.

15 November 2021: We published PS26/21 ‘Domestic Liquidity Sub-Groups’, relevant to PRA-authorised UK banks, PRA-designated UK investment firms, and building societies. It is also relevant to UK financial or mixed financial holding companies that are immediate parent undertakings of firms that may be included in a DoLSub. The implementation date for the policy changes resulting from this PS will be Saturday 1 January 2022. 

CRD news and publications

Please see The National Archives for historical CRD information.

This page was last updated 12 January 2022

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