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The PRA mentioned a four-year transition period ending on December 31, 2029 to guarantee a smooth implementation of the standards.
PRA predicts that big banks will need to boost their Tier 1 capital adequacy ratio by just under 1% by January 2030, instead of the previously projected 3% rise.
At the same time, there will be no additional requirements for small and medium-sized financial companies.
The additional demands are included in the Basel III framework, established over ten years ago, mandating capital raises for financial institutions to enhance their ability to withstand potential crises.
PRA chief Sam Woods stated that the less strict requirements, compared to those previously suggested, will help the financial sector in the UK to grow and be competitive while also meeting global standards.
source: ft.com
PRA predicts that big banks will need to boost their Tier 1 capital adequacy ratio by just under 1% by January 2030, instead of the previously projected 3% rise.
At the same time, there will be no additional requirements for small and medium-sized financial companies.
The additional demands are included in the Basel III framework, established over ten years ago, mandating capital raises for financial institutions to enhance their ability to withstand potential crises.
PRA chief Sam Woods stated that the less strict requirements, compared to those previously suggested, will help the financial sector in the UK to grow and be competitive while also meeting global standards.
source: ft.com
