The PRA’s policy relating to the implementation of the Securitisation Regulation is relevant to PRA-authorised firms subject to the CRR and Capital Requirements Directive IV (together CRR firms) and PRA-authorised Solvency II firms and is proposed to be extended to all PRA-authorised firms including non-CRR, non-Solvency II, firms. Its policy relating to the revision to the banking securitisation capital framework and SRT securitisation is relevant to PRA-authorised CRR firms only. The PRA does not make any proposals regarding the Solvency II securitisation capital framework, but indicated in the consultation that it may decide these are needed going forward.