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<p>The Prudential Regulation Authority (PRA)’s, and HM Treasury’s, consultations on
the Basel 3.1 standards closed on 30 March. This included the government’s proposals
for deleting retained EU law including which relates to the prudential rules on small
and medium-sized enterprises (SMEs) raising funds against their commercial premises.
The detailed implementation of the Basel 3.1 package is being delegated to the UK’s
expert regulator, the PRA, and its consultation requested information from firms on
specific measures, including those relating to SME lending. The government and PRA
are currently considering the responses.</p><p> </p><p>The government continues to
work with the PRA and businesses closely to understand the impact of the proposed
changes, including the impact on SME lending.</p>
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