1.1 This Prudential Regulation Authority (PRA) Policy Statement (PS) provides feedback to responses to Consultation Paper (CP) 5/21 'Implementation of Basel standards' [February 2021.]. It also contains near-final rule instruments, Statements of Policy (SoP), Supervisory Statements (SS), and reporting templates and instructions.

1.2 Before making any proposed rules, the PRA is required by the Financial Services and Markets Act 2000 (FSMA) to have regard to any representations made to it, and to publish an account, in general terms, of those representations and its feedback to them [Sections 138J(3) and 138J(4) of FSMA.].

1.3 The chapters in this PS follow the same chapter structure as the CP.