The Prudential Regulatory Authority (PRA) has published a consultation paper "Supervising International Banks: the PRA's approach to branch supervision". This outlines how the PRA will supervise UK branches of banks based outside the EEA and explains in
more detail the PRA's approach to EEA branches and subsidiaries.
The PRA's framework for the supervision of non-EEA branches will be based on whether:
The PRA will then make a judgement about whether it is content for the firm to operate as a branch in the UK. This judgement will impact both existing and new branches of non EEA banks.
The PRA proposes a number of rules in relation to the supervision of non-EEA branches, including:
The deadline for comments is 27 May 2014.
© Finextra Research 2014