14 March 2019
The PRA published its Policy Statement (PS8/19) on "Credit risk mitigation: Eligibility of guarantees as unfunded credit protection" yesterday.
This provides feedback to the PRA's consultation CP6/18 as well as the PRA's final policy, set out in:
- Supervisory Statement SS7/13 ‘Credit risk mitigation’
- Supervisory Statement SS31/15 on the ICAAP and SREP
The changes to these Supervisory Statements will be effective from 13 September 2019 (i.e. 6 months after publication of PS8/19).