PRA confirms CRD4 plans: PRA has confirmed its plans for implementing the CRD4 and CRR package. It will publish its final rules on implementing CRD4 soon. For the moment, it wanted to confirm it plans to implement the CRR definition of Common Equity Tier 1 (CET1) capital as soon as possible. It now says it will do so except that at solo level the deduction of holdings of own funds instruments issued by financial sector entities subject to consolidated supervision will be phased in. PRA has confirmed its minimum Pillar 1 capital requirements for firms and the dates from which they will apply, It has also confirmed its decision to require firms to deduct 50% of "significant investments" and risk weight appropriately the rest. Each year firms must then deduct an additional 10 percentage points of    significant investment so that by 1 January 2019 they will be deducting 100%. It has also decided to apply the same standards for minimum quality of capital eligible for Pillar 2A as for Pillar 1. PRA has   also published a supervisory statement on capital and leverage ratios, confirming it will expect major banks and building societies to meet a 7% CET1 capital ratio and a 3% Tier 1 leverage ratio. (Source: PRA Confirms CRD4 Plans)

PRA confirms FLS changes: PRA has confirmed it will extend the capital offset for corporate lending which accompanies the Funding for Lending Scheme (FLS), but that the offset for household lending will end on 31 December 2013. (Source: PRA Confirms FLS Changes)