SoP8/25 – The PRA’s approach to the exercise of powers referred to in Articles 244(3)(b), 245(3)(b), 254(4) and 258(2) of the Securitisation (CRR) Part of the PRA Rulebook

This statement of policy (SoP) sets out the Prudential Regulation Authority’s (PRA) approach to imposing requirements on firms under s55M of the Financial Services and Markets Act 2000 (FSMA) or giving a direction to a qualifying parent undertaking under s192C of FSMA as referred to in Article 244(3)(b), Article 245(3)(b), Article 254(4) and Article 258(2) of the Securitisation (CRR) Part of the PRA Rulebook.

This SoP applies to all firms to which the Securitisation (CRR) Part of the PRA Rulebook applies.

Future version 

Published on 20 January 2026. Effective from 1 January 2027.

• Statement of policy 8/25 – The PRA’s approach to the exercise of powers referred to in Articles 244(3)(b), 245(3)(b), 254(4) and 258(2) of the Securitisation (CRR) Part of the PRA Rulebook – January 2026 (pdf)

- following PS3/26 – Restatement of CRR requirements – 2027 implementation – final

Past version