There was a flurry of activity in December for supervisors and
legislators, as they looked to honour their 2013 commitments before
year-end, with a compromise reached on the Recovery and
Resolution Directive and the Deposit Guarantee
Scheme Directive in the EU, while in the UK the
Banking Reform Bill received Royal Assent and the
PRA published its final rules on CRD IV and
recovery and resolution planning.
As usual this note is produced for information only on a best
efforts basis, and does not constitute advice of any kind.
Capital (including stress testing)
The Prudential Regulation Authority
(PRA) published its final rules on
implementing the revised Capital Requirements Directive (CRD IV).
The publication was a follow-up to a November statement, where the
PRA outlined the major changes, such as transitional provisions,
and quality of capital for Pillar 2A. The December Policy
Statement, which did not differ from the consultation
significantly, offered
