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This Consultation Paper (CP) sets out the Prudential Regulation Authority’s (PRA) proposals relating to its approach to supervising the UK actions of PRA-authorised banks and designated funding corporations which can be headquartered outside of the UK or are part of a bunch based outside of the UK. On this CP, such firms are referred to as ‘worldwide banks’. It therefore papercp reviews consists of those firms working within the UK via a branch. It also proposes expectations for receiving data in regards to the risks in the wider group, and for co-operation from regulated entities and their supervisors, in order that it can be happy that companies are meeting threshold situations.
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