PRA has published a policy statement together with updated supervisory statements on changes to its large exposures framework.
PRA received 5 responses to its consultation paper, which supported the additional guidance. Most also supported the proposals relating to the non-core large exposures group limit and the exemption of certain exposures at UK consolidated level, although some asked for clarification on some aspects of the proposals. Responses also supported the proposal to exempt internal minimum requirements for own funds and eligible liabilities exposures from large exposures limits, but questioned the process, scope and timing of implementation of the exemption.
PRA has now made new rules, which take effect on 29 June.