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ARTICLE · 27 SEPTEMBER 2024

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The UK's PRA Publishes Near-Final Basel 3.1 Rules

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On 12 September 2024, the UK's banking regulator, the Prudential Regulation Authority ("PRA") published its second policy statement on implementation of the Basel 3.1 standards in the form of near-final rules (PS9/24).

United KingdomFinance and Banking
Alix Prentice
Alix Prentice
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On 12 September 2024, the UK's banking regulator, the Prudential Regulation Authority ("PRA") published its second policy statement on implementation of the Basel 3.1 standards in the form of near-final rules (PS9/24). This note considers some of the key ‘concessions' PS9/24 gives, as well as where the PRA has got to on its considerations of the future prudential treatment of securitisations.

  1. Implementation date: Having already extended it by six months, the PRA has elected to move the implementation date for Basel 3.1 standards for another six months to 1 January 2026. The overall transitional period remains the same, so that full implementation remains due by 1 January 2030.

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