Financial Services Financial Services

UK banks see Basel 3.1 lobbying effort pay off as PRA unveils major concessions

By Phoebe Seers
  • 12 Sep 2024 12:34
  • 12 Sep 2024 12:34
Large UK banks will see an increase of less than 1 percent in their capital requirements over the next four years, after the Bank of England’s Prudential Regulation Authority set out a heavily amended package to implement the international capital standards Basel 3. It had suggested 3 percent when it last

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Phoebe Seers

Correspondent


Phoebe has covered Financial Crime and compliance issues for MLex since 2015, initially in the Hong Kong bureau and currently in London. While in Hong Kong she won two SOPA awards for her reporting on corruption in the energy sector in Indonesia. Prior to journalism she worked as a solicitor with a focus on white-collar crime litigation in London and Hong Kong. She has a BA in English and Philosophy from Newcastle University.

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