UK PRA consults on supervision of international banks
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.