Changes to the PRA’s large exposures framework

On 28 June 2018, the PRA published Policy Statement 14/18: changes to the PRA’s large exposures framework (PS14/18). PS14/18 is relevant to PRA-authorised banks, building societies, PRA designated investment firms and their qualifying parent undertakings, which for this purpose comprise financial holding companies and mixed financial holding companies, as well as credit institutions, investment firms and financial institutions that are subsidiaries of these firms, regardless of their location. PS14/18 contains updates to: PRA rules on large exposures and regulatory reporting (Appendix 1); Supervisory Statement 16/13: large exposures (Appendix 2); and Supervisory Statement 34/15: guidelines for completing regulatory reports (Appendix 3). PS14/18 also contains a simplified worked example of the application of the large exposures limits at the level of the UK consolidated group (Appendix 4). The changes to the PRA’s rules and expectations take effect from 29 June 2018.…

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