Harry WellsThe PRA has published its final policy on leverage ratio treatment of omnibus account reserves and amendments to the leverage ratio framework, as well as feedback to responses from its consultation earlier this year.
The PRA had proposed to introduce new rules excluding reserves held on omnibus accounts subject to specific conditions, and make small amendments to SS45/15 and the leverage ratio disclosure to clarify the regulator’s expectations.
The PRA received one response to its consultation, which determined that the proposals were sensible but requested clarifications in respect of the proposed changes to SS45/15.
The statement of policy outlines the minor changes that have been made to the policy following consultation. These include non-substantive changes to the following areas:
- amendments to the Glossary, Leverage Ratio, Disclosure and Reporting Parts of the PRA Rulebook;
- updates to SS45/15;
- amendments to the ‘Instructions for leverage ratio disclosures’; and
- amendments to the ‘Instructions for leverage ratio reporting’.
The proposed changes will take effect on 5 August 2024.