3 Transfer of certain prudential regulation matters into PRA rules
Financial Services Act 2021 (2021 c 22) | Legislation

3  Transfer of certain prudential regulation matters into PRA rules

(1)     The Treasury may by regulations revoke provisions of the Capital Requirements Regulation relating to the matters listed in subsection (2).

(2)     The matters are—

(a)     deductions from Common Equity Tier 1 items;

(b)     the following aspects of the standardised approach to credit risk—

(i)     exposure value;

(ii)     risk weights for exposures to institutions;

(iii)     exposures to corporates;

(iv)     exposures secured by mortgages on immovable property;

(v)     retail exposures;

(vi)     subordinated debt and equity exposures;

(vii)     the use of credit assessments;

(viii)     exposures with particularly high risk;

(ix)     exposures in the form of units or shares in collective investment undertakings;

(c)     classification of off-balance sheet items;

(d)     the following aspects of the internal ratings based approach to credit risk—

(i)     the advanced internal ratings based approach for asset classes that cannot be modelled in a robust and prudent manner;

(ii)     input parameters;

(iii)     the requirement to use the internal ratings based approach for all significant exposure classes;

(iv)

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