More clarity needed

When the Bank of England’s Prudential Regulation Authority (PRA), whose job it is to supervise and regulate financial services firms, announces a new consultation paper, it doesn’t usually make headline news.

But in the case of the ‘Credit Risk Mitigation’ paper, which was introduced in February 2018, interested parties might find it challenging to see any ripples on the pond at all.

"To be eligible as a guarantee for CRM under CRR, strict eligibility must be met."