The PRA’s approach to new and growing banks – PS8/21
On 15 April 2021, the PRA published Policy Statement 8/21 ‘The Prudential Regulation Authority’s approach to new and growing banks’ (PS8/21). PS8/21 follows Consultation Paper 9/20 ‘Non-systemic UK banks: the PRA’s approach to new and growing banks’ (CP9/20) that the PRA published last summer setting out the regulator’s proposed approach to supervising new and growing non-systemic UK banks (collectively referred to as banks).
PS8/21 is relevant to the following types of banks:
Banks in their…