1
Introduction
1.1
This statement is relevant to PRA-authorised firms to which the Capital Requirements Regulation (CRR) applies.[1]
Footnotes
- 1. These firms include banks, building societies and PRA UK designated investment firms. For avoidance of doubt, these expectations apply at both the individual and UK consolidated level. SS7/13 was updated and renamed in March 2020.
- 01/01/2023
1.2
It sets out the Prudential Regulation Authority’s (PRA’s) expectations on the quality of regulatory capital resources that firms are required to hold under the CRR. This statement complements the requirements set out in Part 2 of the CRR, in the Definition of Capital Part of the PRA Rulebook and the high-level expectations on capital as outlined in ‘The PRA’s approach to banking supervision’.[2]
Footnotes
- 2. Available at 'the PRA's approach to supervision of the banking and insurance sectors', https://www.bankofengland.co.uk/prudential-regulation/publication/pras-approach-to-supervision-of-the-banking-and-insurance-sectors.
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