Bank of England: The PRA Rulebook - Part 4

14 August 2015

This consultation paper sets out proposals to redraft certain modules of the Prudential Regulation Authority Handbook. It is the fourth in a planned series of consultations aimed at reshaping Handbook material inherited from the FSA to create a Rulebook, containing only PRA rules.

The Prudential Regulation Authority (PRA) Rulebook will appear in a new online website in 2015 and, until then, will appear on the existing Handbook site in PDF form. Detailed proposals for the presentation of the online Rulebook were outlined in Chapter 10 of CP8/13.

This consultation paper (CP) seeks views on, amongst other proposals:

• replacing the rules set out in Chapter 3.1 (Cross sector groups) of the General Prudential sourcebook (GENPRU) and GENPRU 3 Annex 1 (Capital adequacy calculations for financial conglomerates) with a new Rulebook Part ‘Financial Conglomerates’;
• replacing the rules relevant to banking and investment groups set out in GENPRU 3.2 (Third country groups) with a new Chapter ‘Third country groups’ in the Groups Part;
• replacing the rules set out in SYSC 12.1 (Group risk systems and controls requirements) with a new Rulebook Part ‘Group risk systems’; and
• replacing the rules set out in SUP 16.3 (General provisions on reporting) and SUP 16.6 (Compliance reports) of the Handbook with new rules in the Regulatory Reporting Part.

This consultation closes on Friday 13 November 2015.

Full consultation paper

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