Partners Merryn Craske and Steven Lightstone spoke to GlobalCapital about the Bank of England’s Prudential Regulatory Authority’s (PRA’s) paper on proposed changes to the Securitisation chapter of the Capital Requirements Regulation (CRR).
Discussing non-neutrality, Merryn said, “While the PRA considers that some degree of non-neutrality is justified for securitisations, it is very encouraging that it would support an evaluation of whether there could be a recalibration and is considering how the p-factor can be adjusted.”
“The PRA is walking a tightrope between ensuring alignment with the international Basel 3.1 standards and supporting the UK’s competitiveness and growth,” said Steven.
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