meta_id 3091562

On April 23 2026, the Prudential Regulation Authority (PRA) published its low-impact amendments consultation (LIAC01/26), on low-impact amendments to its rulebook and policy statements. The consultation proposes six distinct amendments across prudential regulation. Specific draft amendments are linked in each title: Amendments to the Groups Part of the PRA Rulebook Proposed implementation date: July 2026 The PRA proposes amending its rules to clarify that a firm must apply proportional consolidation when a participation arises as a result of its voting rights, not just its share of capital. Amendments to the Groups Part of the PRA Rulebook Proposed implementation date: July 2026 The PRA proposes amending its rules to clarify that a firm must apply proportional consolidation when a participation arises as a result of its voting rights, not just its share of capital. Consequential amendments to a collection of PRA rules relating to the Capital Requirements Regulations 2013 Proposed implementation date: January 1, 2027 The PRA proposes to remove references to additional own funds requirements under the Capital Requirements Regulations 2013 (SI 2013/3115) (the ‘Capital Requirements Regulations’) and replace them with references to ‘Pillar 2A requirement. Consequential amendments to a collection of PRA rules relating to the Capital Requirements Regulations 2013 Proposed implementation date: January 1, 2027 The PRA proposes to remove references to additional own funds requirements under the Capital Requirements Regulations 2013 (SI 2013/3115) (the ‘Capital Requirements Regulations’) and replace them with references to ‘Pillar 2A requirement. Amendments to the Countercyclical Capital Buffer Rates UK Technical Standard Proposed implementation date: January 1, 2027 The PRA proposes a number of miscellaneous low impact amendments to the UK Technical Standard on the identification of the geographical location of the relevant credit exposures for calculating institution-specific countercyclical capital buffer rates (the UKTS). Amendments to the Countercyclical Capital Buffer Rates UK Technical Standard Proposed implementation date: January 1, 2027 The PRA proposes a number of miscellaneous low impact amendments to the UK Technical Standard on the identification of the geographical location of the relevant credit exposures for calculating institution-specific countercyclical capital buffer rates (the UKTS). Amendment to the frequency of the O-SII designation exercise in SoP1/16 – The PRA’s approach to identifying other systemically important institutions (O-SIIs) Proposed implementation date: November 1, 2026 The PRA proposes to amend paragraph 5.1 of statement of policy (SoP) 1/16 – PRA’s approach to identifying other systemically important institutions (O-SIIs) to change the frequency of the other systemically important institutions (O-SII) designation exercise from an annual assessment to one that takes place at least once every two years. Amendment to the frequency of the O-SII designation exercise in SoP1/16 – The PRA’s approach to identifying other systemically important institutions (O-SIIs) Proposed implementation date: November 1, 2026 The PRA proposes to amend paragraph 5.1 of statement of policy (SoP) 1/16 – PRA’s approach to identifying other systemically important institutions (O-SIIs) to change the frequency of the other systemically important institutions (O-SII) designation exercise from an annual assessment to one that takes place at least once every two years. Amendments to the definition of firms in scope of the O-SII buffer in SoP1/16 and SoP4/16 Proposed implementation date: July 2026 On 31 July 2025, the Capital Buffers Regulations came into force. These restated the Capital Requirements (Capital Buffers and Macro-prudential) Regulations 2014 with some amendments, which included changes to the definition of the O-SII buffer scope. Amendments to the definition of firms in scope of the O-SII buffer in SoP1/16 and SoP4/16 Proposed implementation date: July 2026 On 31 July 2025, the Capital Buffers Regulations came into force. These restated the Capital Requirements (Capital Buffers and Macro-prudential) Regulations 2014 with some amendments, which included changes to the definition of the O-SII buffer scope. Amendments to SoP1/20 – The PRA’s approach to the publication of Solvency II technical information Proposed implementation date: July 2026 The PRA is proposing to make two changes to SoP1/20: The PRA proposes to also reduce the depth, liquidity and transparency (DLT) assessment publication and 'technical information' publication frequency to once every three years. Amendments to SoP1/20 – The PRA’s approach to the publication of Solvency II technical information Proposed implementation date: July 2026 The PRA is proposing to make two changes to SoP1/20: The PRA proposes to also reduce the depth, liquidity and transparency (DLT) assessment publication and 'technical information' publication frequency to once every three years. The PRA is inviting comments from firms on any of the above proposals through email to LIAP@bankofengland.co.uk by May 21, 2026.