CP24/10: Joint PRA and FCA Consequential Amendments to BTS 2016/2251

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We’re jointly consulting with the Prudential Regulation Authority (PRA) on proposed changes to the UK EMIR bilateral margin requirements.

Read CP24/10 (PRA CP6/24)

Why are we consulting

We’re consulting on consequential amendments to the Binding Technical Standards (BTS) 2016/2251 jointly with the PRA in Chapter 5 of the PRA’s Occasional Consultation Paper.

The amendments are necessary to reflect the expected changes to the UK version of the European Market Infrastructure Regulation (UK EMIR) that will be made in the Securitisation (Amendment) Regulations 2024.

Who is this for

The publication is relevant to PRA-authorised banks, building societies and PRA-designated investment firms in scope of the margin requirements under UK EMIR.

It is also relevant to all FCA solo-regulated entities and non-financial counterparties in scope of the margin requirements under UK EMIR. 

Next steps

We welcome your feedback by 30 May 2024.

Feedback should be submitted to [email protected].

We will consider your feedback and, subject to the changes to UK EMIR, we propose implementing the changes in November 2024.