1.1 This paper contains feedback from the Financial Policy Committee (FPC) and the Prudential Regulation Authority (PRA) on responses to Consultation Paper (CP) 14/21 'Consultations by the FPC and PRA on changes to the UK leverage ratio framework' [June 2021: CP14/21 'Consultations by the FPC and PRA on changes to the UK leverage ratio framework'.]. Part 1 covers the FPC's feedback to responses relating to its direction and/or recommendation, and its final decisions. Part 2 covers the PRA's feedback to responses relating exclusively to its separate proposals in CP14/21, which go beyond the scope of the FPC's direction and/or recommendation, or which provide for the PRA's implementation where scope was left for the PRA to determine the details of that implementation.
1.2 It also contains the FPC's and PRA's final policy, as follows:
• amendments to the PRA Rulebook (Appendix 1);
• an updated Supervisory Statement (SS) 45/15 'The UK leverage ratio framework' (Appendix 2);
• the FPC
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