PRA’s Woods: ending capital deductions for IT is ‘dubious’
Regulator signals potential divergence between UK and EU capital rules after Brexit transition
The head of UK prudential regulation has labelled a European Union rule change that allows banks to stop deducting the value of software from their capital as “highly dubious”. The stance could result in potential divergence between EU and UK capital rules once the post-Brexit transition period comes to an end – potentially as early as January 2021.
In May 2019, the EU passed a series of
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