Prudential standards in the Financial Services Bill: policy statement
皇冠体育app policy statement confirms the Government鈥檚 intention to implement the internationally agreed Basel III banking standards in the UK. 皇冠体育app statement also announces the Government will take powers to enable the implementation of updated prudential rules for UK banks and investment firms.
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皇冠体育app Basel standards are an international framework that aims to strengthen the regulation, supervision, and risk management of banks. 皇冠体育app standards are set by the Basel Committee on Banking Supervision. 皇冠体育app UK played an active role in negotiating and agreeing the Third Basel Accord (Basel III) and is committed to its full, timely, and consistent implementation, alongside other major jurisdictions.
皇冠体育app Government will also take powers to enable the implementation of updated prudential rules for UK banks included in the Second Capital Requirements Regulation (CRRII), and to implement an updated prudential regime for investment firms in the UK