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UK PRA consults on supervision of international banks

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Penn Bob
Bob Penn

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London

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Carolan Damian
Damian Carolan

Partner

London

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27 February 2014

On 26 February 2014, the Prudential Regulation Authority (PRA) issued a consultation paper on the supervision of international banks and its approach to branch supervision.

The consultation proposes reporting requirements for all branches (both of EEA and non-EEA banks) and a rule requiring that non-EEA firms with UK branches (‘non-EEA branches’) have adequate provisions made in resolution plans for their UK branches.

For further information please see our client alert on the topic.