In broad terms we support the PRA’s proposals, though we challenge PRA to go further, whether now or subsequently, on both proportionality and de-duplication of reporting, and to be more ambitious. We are happy to accept these proposals as a first instalment on both counts.

We also agree that the PRA should not implement those parts of CRD V that do not require compliance until after the end of the Brexit transitional period.

Read the full response here.