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ARTICLE · 11 AUGUST 2023

PRA Consultation Paper On Replacing UK Securitisation Rules

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On 27 July 2023 the Prudential Regulation Authority (the "PRA") published a Consultation Paper1 (the "CP") setting out the PRA's proposed new securitisation rules to replace requirements...

United KingdomFinance and Banking
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On 27 July 2023 the Prudential Regulation Authority (the "PRA") published a Consultation Paper1 (the "CP") setting out the PRA's proposed new securitisation rules to replace requirements for PRA-authorised persons that are currently in the UK Securitisation Regulation2 (the "UK SR") and in related technical standards.

The proposed new PRA rules relate to the following provisions of the UK SR:

  • Article 5 (Due-diligence requirements for institutional investors);
  • Article 6 (Risk retention);
  • Article 7 (Transparency requirements for originators, sponsors, and securitisation special purpose entities);
  • Article 8 (Ban on resecuritisation); and
  • Article 9 (Criteria for credit-granting).

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