PRA confirms decision to freeze O-SII buffer rates

PRA has issued a statement confirming its decision to maintain firms’ Other Systemically Important Institutions (O-SII) buffer rates for 2022. This means that the O-SII buffer rates will thus be maintained at 2019 levels.

The PRA will reassess O-SII buffer rates in 2023 based on the Financial Policy Committee’s updated framework and in line with the PRA’s statement of policy. The decision on O-SII buffer rates taken in December 2023 will be based on end-2022 financial results and will take effect from January 2025 in line with our policy.

Duncan Scott