Thursday, 27 February 2014

UK: supervising international banks - the PRA consults on its approach to branch supervision

The Prudential Regulation Authority yesterday published a consultation paper titled Supervising international banks: the Prudential Regulation Authority’s approach to branch supervision: see here (pdf). The paper focuses in particular on branches from outside the European Economic Area. The PRA is proposing to introduce a rule that will require non-EEA firms to take all steps within their control to have adequate provision made in their resolution plans in respect of UK branches.

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