UK ring-fencing an ongoing process, says PRA official
James Proudman says Bank of England is considering changes to its supervisory approach
The Bank of England’s Prudential Regulation Authority (PRA) is considering whether to adjust its supervisory process as banks begin to implement new rules on “ring-fencing”.
James Proudman, the PRA’s executive director for UK deposit-takers supervision, told a banking conference on June 16: “We are considering how to supervise banks with ring-fenced structures and whether this will require changes to our current supervisory approach and operating model.” Banks are expected to keep their retail
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