FIN.

Treasury gives CRR guidance

Treasury has published guidance on how CRR2 applies during the transition period.  It has already made regulations under the Withdrawal Act to “onshore” CRR as amended by CRR2 after the end of the transition period, and will use the same powers to address any deficiencies that arise from CRR2 itself.

The Guidance includes a table to provisions that will be onshored and form part of retained EU law, having become applicable no 27 June. The key provisions that do not apply until after the end of the transition period – on the leverage ratio and G-SII requirements will be addressed by the FPC and PRA.

Emma Radmore