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- This Prudential Regulation Authority (PRA) Policy Statement (PS) provides the final PRA Rulebook instruments, Statements of Policy (SoPs), Supervisory Statements (SSs), and reporting templates and instructions, which were published as near-final in PS17/21 ‘Implementation of Basel standards’.
beta.bankofengland.co.uk/prudential-regulation/publication/2021/october/implementation-of-basel-standards
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Once the commencement regulations have been made, the PRA intends to make all the final policy materials, rules, and technical standards (covering the areas in this near-final PS and those in PS17/23) in a single, final PS.
- PS17/23
The PRA’s near-final policy on the output floor, including...
- PS17/23
Oct 15, 2024 · The PRA’s near-final policy on the output floor, including its level of application, will be published in the second near-final policy statement (PS) intended to be published in Q2 2024 as outlined in paragraph 1.3.
Sep 12, 2024 · This Prudential Regulation Authority (PRA) Policy Statement (PS) provides the final PRA Rulebook instruments, Statements of Policy (SoPs), Supervisory Statements (SSs), and reporting templates and instructions, which were published as near-final in PS17/21 ‘Implementation of Basel standards’.
- Credit Risk. To make the SA more risk-sensitive, new exposure sub-classes# have been added, and a grading mechanism introduced for unrated corporates and institutions, based on the internal assessment/rating.
- Operational Risk. All the existing operational risk approaches [Basic Indicator Approach (BIA), Standardised Approach (SA), and Advanced Measurement Approach (AMA)] are proposed to be replaced by the new Standardised Approach (SA).
- Credit Valuation Adjustment (CVA) and Counterparty Credit (CCR) Risk. Three new methodologies have been introduced to replace the current framework
- Market Risk. Key changes to the Market Risk framework include: The existing Standardised Approach has been recalibrated and renamed as the Simplified Standardised Approach (SSA)
Feb 22, 2024 · Decoding PRA’s near-final policy statements on Basel 3.1 implementation. Embracing a phased approach, the PRA released the first part of the Policy Statement (PS17/23) in mid-December 2023. This initial segment addresses key aspects such as Credit Value Adjustment (CVA), Counterparty Credit Risk (CCR), and Market Risk.
Jan 18, 2024 · On 12 December 2023, the UK Prudential Regulation Authority (PRA) published the first of two near-final policy statements on the implementation of revisions to the Basel 3 standards, known in the U.K. as Basel 3.1. This followed the regulator’s consultation on the same topic in November 2022.
1.1 This Prudential Regulation Authority (PRA) near-final policy statement (PS) provides feedback to responses to the following chapters of consultation paper (CP) 16/22 - Implementation of the Basel 3.1 standards: • Chapter 1 - Overview. • Chapter 2 - Scope and levels of application.
