This annex outlines changes made to SS17/13 since its publication in December 2013.

September 2024
12 September

This SS was updated following publication of PS9/24 – Implementation of the Basel 3.1 standards near-final part 2, which sets out the PRA’s approach to implementation of the Basel
3.1 standards relating to credit risk mitigation. This included the deletion of chapters 2-5; amendments to chapters 6-8 and the insertion of chapters 9-11.

These amendments are effective from 1 January 2026.

July 2019
23 July

This SS was updated following publication of Policy Statement 14/19 'Credit risk mitigation: Eligibility of financial collateral', to clarify expectations regarding the eligibility of financial collateral as funded credit protection under Part Three, Title II, Chapter 4 (Credit risk mitigation) of the Capital Requirements Regulation (575/2013) (CRR). These updated expectations are set out in Chapter 8 of this SS.

March 2019
13 March

This SS was updated following publication of Policy Statement 8/19 'Credit risk mitigation: Eligibility of guarantees as unfunded credit protection', to clarify expectations regarding the eligibility of guarantees as unfunded credit protection under Part Three, Title II, Chapter 4 (Credit risk mitigation) of the Capital Requirements Regulation (575/2013) (CRR). These updated expectations are set out in Chapter 7 of this SS and take effect from Friday 13 September 2019.