1.64 The PRA proposes that the implementation date for the changes resulting from this CP, other than those affected by transitional provisions set out below, would be Wednesday 1 January 2025.
Transitional provisions
1.65 The PRA proposes to implement transitional provisions for the output floor. The transitional period follows that set out in the Basel 3.1 standards and would cover a five-year period beginning on the PRA's proposed implementation date of Wednesday 1 January 2025. Further details of transitional arrangements for the output floor can be found in Chapter 9.
1.66 The PRA also proposes to apply a five-year transitional period starting from the proposed implementation date of Wednesday 1 January 2025 for SA and IRB firms for the implementation of the revised treatment of equity exposures in the credit risk SA. Further details of the transitional periods for equity exposures can be found in Chapters 3 and 4.
1.67 In the CVA framework (Chapter 7), the PRA proposes to apply a
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