The changes will consist in adding a new Box 2. The rest of the Policy Statement will not be amended.
Box 2: Changes to the UK leverage ratio framework following the FPC's review in 2021
In June 2021, the FPC conducted a comprehensive review of the UK leverage ratio framework in light of revised international standards, and its ongoing commitment to review its policy approach. This box outlines the changes the FPC proposes to make to the leverage ratio framework that is outlined in this Policy Statement. The FPC coordinated closely with the Prudential Regulation Authority (PRA) in its review and published a joint FPC/PRA consultation outlining the comprehensive changes proposed to the UK leverage ratio framework on 29 June 2021.
The FPC proposes to amend the UK leverage ratio framework by making changes to the scope of application, and the level of consolidation (section 2.2 of this Policy Statement). The rest of the framework outlined in this document would remain unchanged. The PRA a
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