PRA: CP11/24 – International firms – updates to SS5/21 and branch reporting

PRA is consulting on: the introduction of some additional indicative criteria that it would consider when determining whether it would be appropriate for an international bank to operate in the UK as a branch rather than a subsidiary; clarifications to the expectations of firms’ booking arrangements and extending their formal application to a subset of UK banks; amendments to the PRA branch return, and minor amendments to SS5/21.  Responses are required by 30 October 2024.