PRA makes CRD V changes

PRA has published a policy statement on further implementation of CRD V .  It has also published its near-final rules which will not be changed, but PRA cannot make the rules until 28 December.  The rules will make changes relating to:

• approval and supervision of holding companies;
• interest rate in the banking book
• the capital buffers framework
• distributions when firms use capital buggers and
• the quality of capital for Pillar 2 requirements.