Review imposes op risk capital charge on non-bank lenders

The proposals outlined by the UK Financial Services Authority in CP 10/16, which forms the first follow-up to the mortgage market review discussion paper published in October 2009, will force non-banks – mortgage lenders that do not hold retail deposits – to hold capital for operational risk.

"We expressed concern in DP09/3 that the procyclical entry and exit of non-banks in the UK market produces market sustainability issues, reinforcing our view that, collectively, non-banks bring instability

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