Letter to firms ‘Fundamental Review of the Trading Book (FRTB): Timetable for submission of internal model/standard approach pre-applications’

The PRA recently announced that it will consult on the UK implementation of Basel 3.1, including FRTB, in Q4-2022, with a planned implementation date of Wednesday 1 January 2025. The PRA sets out its approach in the letter sent to firms.

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