Industry response

Credit unions - PRA review of capital regime

BSA response to PRA CP 28/19

The BSA (principally on behalf of its six[1] large credit union members) broadly welcomes and supports the review of the credit union capital regime proposed by the PRA in CP 28/19. We particularly welcome the immediate effect on our members of the graduated approach; the delinking of capital requirements from both membership numbers and “additional activities”; and the tougher approach to weaker small credit unions with capital below 5%. We have a few other detailed comments, and we also commend the PRA for having undertaken proper cost benefit analysis in CP 28/19. Read our full response here.

 

[1] No.1 CopperPot ; Glasgow ; Scotwest ; Capital ; London Mutual ; Leeds City

Contact

Jeremy Palmer

Head of Financial Policy

jeremy.palmer@bsa.org.uk