The Prudential Regulation Authority (PRA) published a
policy statement (PS2/25) on streamlining firm-specific capital communications which simplifies the content and process of the firm-specific capital communications used to set Pillar 2A, the systemic buffers and the additional leverage ratio buffer (ALRB). These changes have no impact on firms' capital requirements. The PRA also provides feedback to responses received to Chapter 3: Streamlining firm-specific capital communications of its September 2024 consultation on streamlining the Pillar 2A framework (CP9/24). In response to the feedback, the PRA has made one small change to paragraph 5.18 of supervisory statement SS31/15 on the internal capital adequacy assessment process (ICAAP) and the supervisory review and evaluation process (SREP). This change has no meaningful effect on the policy. The new policy and rules will take effect on 31 March. This is consistent with the consultation, and firms are not required to take any specific actions to implement the changes.
[View source.]
