Sterling notes and coins

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Category: Capital Relief Trades ABS

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PRA guidance puts UK CRT issuers at a disadvantage

The UK PRA’s latest significant risk transfer guidance is putting UK capital relief trade issuers at a disadvantage compared to their European peers, mainly due to the regulation’s provisions on excess spread and the capital treatment of standardised portfolio transactions. The regulation is broadly in line with a consultation from May that sparked a market backlash (SCI

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