PRA Publishes Q&A on Property Valuation Requirements Under CRR
PRA published a set of questions and answers (Q&A) covering common queries regarding residential and commercial property valuations, for the purpose of the Capital Requirements Regulation (CRR), during the period of disruption caused by COVID-19 pandemic. Given the disruption in the property market caused by COVID-19, firms have identified difficulties in conducting physical inspections due to social distancing measures, obtaining reliable property valuations, and determining appropriate approaches to suspended or unreliable house price indices. The Q&A document is aimed at all firms to which the CRR applies. The document will be updated if appropriate as the COVID-19 situation evolves. New queries and updates to the existing ones will appear in italics.
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Keywords: Europe, UK, Banking, CRR, Credit Risk, Standardized Approach, IRB Approach, FIRB Approach, Basel, Regulatory Capital, RRE, CRE, Q&A, COVID-19, PRA
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