The Prudential Regulation Authority (PRA) has launched a public consultation on the eligibility of guarantees as unfunded credit protection.
The proposed changes seek to clarify what contracts are eligible to be treated as guarantees for credit risk mitigation under the Capital Requirements Regulation (CRR).
UKEF is in touch with the PRA and is working closely with them to answer their questions on export credit guarantees and the international obligations that influence the terms of our guarantee. We will be discussing with the PRA the fact that in the CRR, different timeliness rules apply to public sector guarantees.
Find out more and download the consultation paper.
The consultation closes on Wednesday 16 May.
Victoria D’Sylva, Policy Development Manager