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We welcome the opportunity to respond briefly to PRA’s CP 12/17. We are content with the move from ICG to a formal P2A requirement set under section 55 of FSMA. The approach to solo Pillar 2A requirements looks reasonable. But we think PRA has not adequately made the case for, in effect, attempting to mandate disclosure of the TCR by all banks and building societies.
Read the full response.
Jeremy Palmer
Head of Financial Policy
Industry Responses
Bank of England Bill
Ensuring operational continuity in resolution - PRA DP 1/14