Guidance
HMT statement on applicability of Covid-19 related amendments to Capital Requirements Regulations
This publication sets out the applicability of Regulation (EU) 2020/873 in the UK during the Transition Period.
Documents
Details
This statement clarifies the amendments to the Capital Requirements Regulation (CRR) and Second Capital Requirements Regulation (CRRII) that are applicable before the end of the Transition Period and which will form part of the body of EU law to be retained in the UK.
The Treasury will use powers under the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020 to address any deficiencies arising from the relevant provisions of Regulation (EU) 2020/873, ensuring these elements of retained EU law operate effectively in the UK at the end of the Transition Period.