Regulatory Alerts2026-06-30
Added · Updated
Directive 3 of 2026 - Revised requirements related to interest rate risk in the banking book
The Prudential Authority issued Directive 3 of 2026, requiring banks, controlling companies, and branches of foreign institutions to comply with revised requirements for interest rate risk in the banking book (IRRBB), including recalibrated shocks. These revisions incorporate adjustments published by the Basel Committee on Banking Supervision and are part of the PA's process to convert selected regulations into Prudential Standards. The new requirements, which replace detailed provisions in regulation 30, are effective from 1 July 2026, and institutions must ensure their external auditors receive a copy and return an acknowledgement of receipt.
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