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UK prudential watchdog won't relaunch proposal to recognize foreign covered bonds

( July 15, 2025, 07:29 GMT | Official Statement) -- MLex Summary: A proposal to allow UK banks to include certain foreign covered bonds as part of their capital buffers won't be relaunched by the Prudential Regulation Authority after it was paused earlier this year. The watchdog said on Tuesday that the industry will get instead an update from the finance ministry. The ministry said today it is considering introducing an Overseas Prudential Requirements Regime to designate appropriate overseas jurisdictions in relation to the prudential treatment of UK firms’ exposure to non-UK covered bonds and is considering seeking industry feedback on the future approach. Statements are attached....

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