On 27 May 2026, the Prudential Regulation Authority issued Policy Statement 14/26: CRR Definitions – restatement in PRA Rulebook (PS14/26).
In PS14/26 the PRA provides feedback to the responses it received to Consultation Paper 19/25 (CP19/25) and sets out its final policy.
In CP19/25, the PRA proposed PRA Rulebook Glossary definitions that would replace definitions in Articles 4, 4A, 4B and 5 of the UK Capital Requirements Regulation (UK CRR) for the purposes of the PRA Rulebook. The PRA also proposed to expressly define certain terms in the PRA Rulebook Glossary that were implicitly defined in other provisions of the UK CRR. In addition, the PRA proposed to make consequential amendments across the PRA Rulebook that were related to the transfer of UK CRR definitions into the PRA Rulebook Glossary. The PRA proposed to restate the vast majority of the UK CRR definitions in the PRA Rulebook without changes in substance, although in a few areas proposed targeted improvements to enhance the clarity of the definitions, with no material change to policy.
The PRA’s final policy is set out in:
- Changes to the PRA Rulebook Glossary and consequential changes across other Parts of the PRA Rulebook (PRA Rulebook: Definitions and Interpretation (CRR) Instrument 2026).
- Corresponding provisions table (Appendix 2).
- Amendments to Supervisory Statement 15/13 – Groups.
The changes become effective alongside the Basel 3.1 package, on 1 January 2027.