PRA disclosed information on its supervisory practices in the banking sector. The public disclosures cover application of rules and guidance, options and discretions, and supervisory review and evaluation process or SREP, in addition to the aggregate statistical data as at December 31, 2019. PRA also submitted this information to EBA, in line with Article 143 of the Capital Requirements Directive (CRD IV) and the Commission Implementing Regulation 650/2014. This information is intended to enable a comparison of the approaches adopted by the competent authorities of different member states in EU.
The disclosed supervisory practices include the way in which UK exercises the options and national discretions available in the banking legislation in EU and the general criteria and methodologies used by national authorities in the supervisory review and evaluation process. The document on disclosures of options and discretions presents information on the exercise of options and discretions set out in CRD IV, CRR, and LCR Delegated Regulation (EU 2015/61); transitional options and discretions set out in CRD IV and CRR; and variable elements of remuneration (in Article 94 of CRD IV).
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