On 23 April 2026, the Prudential Regulation Authority (PRA) published a consultation paper setting out proposed low impact amendments to its rules in Low Impact Amendments Consultation 01/26.

The proposed amendments include:

  • Amendments to the Groups Part of the PRA Rulebook: The PRA proposes amending its rules to clarify that a firm must apply proportional consolidation when a participation arises as a result of its voting rights, not just its share of capital.
  • Consequential amendments to a collection of PRA rules relating to the Capital Requirements Regulations 2013: The PRA proposes to remove certain references to additional own funds requirements under the Capital Requirements Regulations 2013 and replace them with references to ‘Pillar 2A requirement’.
  • Amendments to the Countercyclical Capital Buffer Rates UK Technical Standard: The PRA proposes a number of miscellaneous low impact amendments to the UK Technical Standard on the identification of the geographical location of the relevant credit exposures for calculating institution-specific countercyclical capital buffer rates. 
  • Amendment to the frequency of the other systemically important institutions (O-SII) designation exercise in SoP1/16 – The PRA’s approach to identifying other systemically important institutions: The PRA proposes to amend paragraph 5.1 of Statement of Policy (SoP) 1/16 – PRA’s approach to identifying other systemically important institutions O-SIIs to change the frequency of the O-SII designation exercise from an annual assessment to one that takes place at least once every two years.
  • Amendments to SoP1/20 – The PRA’s approach to the publication of Solvency II technical information: The PRA proposes to reduce the frequency of updates to the PRA relevant currencies to once every three years, although if circumstances require an earlier update the PRA may provide an update sooner than this three-year cycle.

Next steps

The PRA has asked for responses to the consultation by 21 May 2026.