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UK prudential rules on step-in risk to enter into force in 2026

( April 22, 2025, 10:30 GMT | Official Statement) -- MLex Summary: UK financial firms have been told that new rules on “step-in risk” will enter into force in January 2026. Step-in risk is the risk that a bank provides financial support to an unconsolidated entity that is facing stress, in the absence of — or in excess of — any contractual obligations to provide such support. The Prudential Regulation Authority has updated its approach to require firms subject to capital requirements regulation to assess their step-in risk and report their assessment to it, alongside their Internal Capital Adequacy Assessment Process assessment.Policy statement and supervisory statement are attached....

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