In November 2022, the Prudential Regulation Authority (PRA) published consultation paper (CP) 16/22 – Implementation of the Basel 3.1 standards, setting out proposals for PRA rules covering the remaining elements of the Basel III standards that are yet to be implemented in the UK. The consultation period ended on 31 March 2023. Since then, we have been considering the feedback we have received. To support firms in their planning processes, we are today announcing two updates on our intended timetable to complete our work and implement the Basel 3.1 standards in the UK. First, we intend to move the implementation date ... (full story)