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<p>The PRA is implementing Basel 3.1 as part of the UK’s Smarter Regulatory Framework.
As part of this, the government has legislated for an accountability framework to
ensure the PRA consider the impact of its implementation of Basel 3.1 on the wider
impact on UK economic growth, of which SME lending is a vital part. HM Treasury continues
to engage with the Prudential Regulation Authority (PRA) to assess the impact of its
Basel 3.1 package on SME lending. The PRA has been clear that its final requirements
will be guided by the evidence and that it would ‘particularly welcome’ evidence on
the impact on SME lending so it can get its final proposals right. The PRA has said
that it intends to publish its second policy statement in Q2 this year which will
finalise the requirements in relation to SME lending</p><p> </p>
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