This briefing, which is relevant to the prudential treatment of securitisations in general (traditional and synthetic) by UK PRA regulated banks, covers the securitisation-related content of PRA Policy Statement 19/25 (PS 19/25, published 28 October 25). PRA 19/25 sets out the PRA’s approach in relation to the securitisation prudential reforms envisaged in its October 2024 Consultation Paper 13/24 (CP13/24) that the PRA regards as conceptually linked to the UK’s Basel 3.1 implementation.
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