PRA CRR rules corresponding to revoked onshored provisions (updated 31 January 2023)
Table of revoked Capital Requirements Regulation provisions and their corresponding PRA CRR rules.
The Financial Services Act 2021 gives HM Treasury the power to revoke provisions relating to certain matters of the onshored Capital Requirements Regulation (Regulation (EU) No 575/2013) (‘CRR’) and instruments made under the CRR (‘CRR level 2 regulation’).
We are able to make rules in relation to these revoked matters, and in relation to certain standards recommended by the Basel Committee on Banking Supervision. These rules are referred to as ‘CRR rules’.
We are required by the Financial Services Act 2021 to publish a document setting out whether and, if so, how our CRR rules correspond to a provision revoked by HM Treasury. The same Act also states that any reference to a revoked provision, from before it was revoked, in any enactment should be treated as a reference to the corresponding CRR rule as set out in the table below, which we update from time to time. This table reflects the position on 1 January 2022.
|
Provisions revoked by HM Treasury |
Corresponding PRA CRR rule |
|---|---|
|
Article 6(3) (application of requirements on an individual basis: general principles) of the CRR (except in relation to the leverage ratio) |
No corresponding CRR rule |
|
Article 6(4) (application of requirements on an individual basis: general principles) of the CRR |
No corresponding CRR rule |