Author: Premlata Fagan

PRA consults on changes to international banks branch & subsidiary supervision and branch reporting

The PRA is consulting on proposed updates to its supervisory statement (SS5/21) on its approach to international banks and subsidiary supervision. The proposals, set out in the consultation paper  (CP11/24) and its linked annexes, are to reflect developments since SS5/21 was first published in 2021 and to provide further clarifications on the PRA’s approach. The proposals do not alter the overall framework. The consultation also amends the PRA branch return.  The consultation closes on 30 October 2024.

Read on for more details on the key proposals.