The BSA has responded to CP12/25  phase 1 proposals for Pillar 2A.

We have supported aspects of the consultation such as the streamlining of the treatment of pension risk. We have challenged the PRA on the calibration for credit risk and the use of credit scenarios, and we have asked for greater transparency on the approach to operational risk. 

We have also called for sight of phase 2 proposals as soon as possible to enable the industry to meet the implementation timelines for 1st January 2027.