PRA approach to branch supervision | KPMG | ZA

PRA approach to branch supervision

PRA approach to branch supervision

The PRA in the UK has followed up its consultation on branch supervision (in February 2014) with a final statement of its supervisory approach to branches of international banks.

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This factsheet highlights:

  • calls for a clearer definition
  • attestation requirements
  • submission of new branch reporting
  • home-state supervision
  • the extent to which a branch undertakes critical economic functions, and
  • arrangements for resolution

The main consequences are for non-EEA branches (and their parents).

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