On 13 December 2018, the PRA published Policy Statement 32/18: the systemic risk buffer – updates to the Statement of Policy (PS32/18).

PS32/18 is relevant to ring-fenced bodies within the meaning of section 142A of the Financial Services and Markets Act 2000 and large building societies that hold more than £25 billion in deposits (where one or more of the account holders is a small business) and shares (excluding deferred shares) – jointly ‘SRB institutions’.

The PRA’s final Statement of Policy on the systemic risk buffer is set out in the Annex to PS32/18.

The PRA reports in PS32/18 that it received no responses to its earlier consultation. It has therefore made no changes to the draft policy as consulted, but has changed footnote 11 in the Statement of Policy to update references to Delegated Regulation (EU) No 1222/2014.