{"id":139356,"date":"2026-04-29T10:54:40","date_gmt":"2026-04-29T14:54:40","guid":{"rendered":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regulation\/april-2026-global-regulatory-brief-risk-capital-and-financial-stability\/"},"modified":"2026-04-29T10:54:40","modified_gmt":"2026-04-29T14:54:40","slug":"april-2026-global-regulatory-brief-risk-capital-and-financial-stability","status":"publish","type":[3762],"link":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regulation\/april-2026-global-regulatory-brief-risk-capital-and-financial-stability\/","title":{"rendered":"April Global Regulatory Brief: Risk, capital and financial stability"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69f48ee48106a'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-7\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px; color: #0062dd;\">ARTICLE<\/span><\/strong><\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div>    <h1 class=\"bbg-metadata bbg-metadata--title\">April Global Regulatory Brief: Risk, capital and financial stability<\/h1>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 50px !important\"\n    >\n<\/div>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/markets\/\" rel=\"category tag\">\n                    Markets\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/regulation\/\" rel=\"category tag\">\n                    Regulation\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/risk\/\" rel=\"category tag\">\n                    Risk\n                <\/a>\n            <\/li>\n            <\/ul>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-5\"\n    style=\"\"\n    >\n    <div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/320126413-1.jpg\" class=\"bbg-single-image__image attachment-full\" alt=\"Office building\" title=\"Office building\" \/>\n        \n            <\/figure>\n<\/div>\n\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69f48ee48df8b'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6 bbg-column--m-width-6\"\n    style=\"\"\n    >\n    <p>    <p class=\"bbg-metadata bbg-metadata--date\">April 29, 2026<\/p>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><strong>Bloomberg Professional Services<\/strong><\/p>\n\n<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2 bbg-column--valign-middle bbg-column--m-width-2 bbg-column--s-padding-right-2\"\n    style=\"\"\n    >\n    <div class=\"bb-tts\"\n\tdata-selector=\"main\"\n\tdata-label=\"Speak this page\"\n\tdata-custom-play=\"Play\"\n\tdata-custom-pause=\"Pause\"\n\tdata-custom-stop=\"Stop\"\n\tdata-overlay=\"false\"\n\tdata-invert=\"false\"\n\tdata-no-time=\"false\"\n\tdata-no-button-text=\"false\"\n\tdata-one-button=\"true\"\n\tdata-one-style=\"true\"\n\tdata-hide-stop=\"true\"\n\tdata-voice=\"Gordon\"\n\tdata-pitch=\"1\"\n\tdata-speed=\"1\"\n\tdata-align=\"flex-start\"\n>\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-69f48ee4916e3'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span style=\"font-weight: 400;\">Recent periods of financial stress and the proliferation of risks across the financial system are fueling the development of regulatory initiatives to strengthen requirements and promote international best practice. The following policy developments represent a sample of wider regulatory and policy coverage available to Bloomberg Terminal customers. Run REGS &lt;GO&gt; to find out more or contact your Bloomberg representative:<\/span><span style=\"font-weight: 400;\"><br \/>\n<b><\/b><\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\"><b>Japan<\/b>: JFSA draft principles on Cash-Flow Based Lending<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Hong Kong: <\/b><span style=\"font-weight: 400;\">HKMA finalizes overhaul of bank stress testing rules<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>International: <\/b><span style=\"font-weight: 400;\">FSB warns on private markets and stability risks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>UK: <\/b><span style=\"font-weight: 400;\">PRA consults on liquidity framework reforms<\/span><\/li>\n<\/ul>\n<h2><b>Japan &#8211; JFSA draft principles on Cash-Flow Based Lending<\/b><\/h2>\n<p><b>Summary:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The Japan Financial Services Agency (JFSA) has released <a href=\"https:\/\/www.fsa.go.jp\/news\/r7\/sonota\/20260410\/20260410.html\" target=\"_blank\" rel=\"noopener\">draft principles<\/a> to advance cash-flow based lending ahead of the Act on the Promotion of Cash-Flow Based Lending taking effect on 25 May 2026. The Act introduces enterprise value security rights as a new financing option to support lending based on businesses\u2019 future potential. The draft reflects ongoing policy and legal development work and clarifies expectations for trust, communication, and engagement between businesses and financial institutions. Related supervisory guidelines for major banks and regional and SME lenders will be amended, and public comments are invited before continued stakeholder dialogue.<\/span><\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--margin-top-compact bbg-row--margin-bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-69f48ee493e71'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\tbackground: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Interstitial_bg.png);\n\t\t\t\tbackground-repeat: no-repeat;\n\t\t\t\tbackground-position: center center;\n\t\t\t\tbackground-size: cover;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:white;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_1\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Explore the latest regulatory insights with our outlooks, webinars, research and analysis.<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Sign up<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_889110671379169420\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/regulation\/regulatory-insights\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69f48ee499fd1'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><b>Context:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Japan has long promoted cash flow\u2011based lending to support businesses\u2019 growth potential, particularly following the abolition of the Financial Inspection Manual in 2019 and the shift to principles\u2011based supervision. As corporate investment appetite has strengthened, expectations for lending based on future business prospects have increased. Against this backdrop, the Act on the Promotion of Cash Flow\u2011Based Lending, effective 25 May 2026, introduces enterprise value security rights.<\/span><\/p>\n<p><b>Key takeaways:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The JFSA has published draft principles to support cash flow-based lending grounded in businesses\u2019 future potential, in advance of the Act\u2019s entry into force on 25 May 2026.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Act on the Promotion of Cash Flow-Based Lending introduces enterprise value security rights as a new financing option to facilitate lending based on future business prospects.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The draft reflects policy development across legal design and implementation.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It sets out the basic approach to trust, communication, and engagement between businesses and financial institutions when undertaking cash flow-based lending.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The document also clarifies the expected use of enterprise value security rights within cash flow-based lending practices.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Corresponding amendments will be made to the Comprehensive Supervisory Guidelines for Major Banks and for Small and Medium Sized and Regional Financial Institutions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Public comments on the draft are invited until 10 May 2026. The JFSA will continue dialogue with a broad range of stakeholders after the comment period to enhance financial inspection and supervisory practices.<\/span><\/li>\n<\/ul>\n<p><b>Next Step:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Financial institutions are expected to review the draft principles, assess alignment with their lending strategies, and enhance internal frameworks for cash flow-based lending. They should consider the practical use of enterprise value security rights, provide feedback through the public consultation by 10 May 2026, and prepare for forthcoming amendments to supervisory guidelines ahead of the Act\u2019s implementation.<\/span><\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 50px !important\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>Hong Kong &#8211; HKMA finalizes overhaul of bank stress testing rules<\/h2>\n<p><span style=\"font-weight: 400;\">The Hong Kong Monetary Authority (HKMA) has issued<\/span> <a href=\"https:\/\/brdr.hkma.gov.hk\/eng\/doc-ldg\/docId\/20260312-7-EN\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">updated guidance<\/span><\/a><span style=\"font-weight: 400;\"> requiring banks to integrate climate, crypto, and geopolitical risks into their stress-testing programmes.<\/span><\/p>\n<p><b>In more detail:<\/b> <span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Following a consultation period, the HKMA released the revised Supervisory Policy Manual (SPM) module IC-5 on &#8220;stress-testing,&#8221; which supersedes the 2012 version. The new framework aligns with Basel Committee principles and addresses modern vulnerabilities, such as digital-driven bank runs and the feedback loops between capital and liquidity stress. Banks must now maintain an independent model validation function and a firm-wide model inventory. Crucially, the board of directors is now explicitly responsible for the programme, moving away from flexible involvement to a mandatory requirement to challenge test methodologies and outcomes.<\/span><\/p>\n<p><b>Key takeaways:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Expanded risk scope<\/b><span style=\"font-weight: 400;\">: Mandatory inclusion of climate-related financial risks (physical and transition), cryptoasset exposures, and disruptions stemming from geopolitical tensions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Digital liquidity risks<\/b><span style=\"font-weight: 400;\">: Recognition of &#8220;unprecedented&#8221; large-scale deposit withdrawals accelerated by social media and digitalization.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Enhanced governance<\/b><span style=\"font-weight: 400;\">: The board holds &#8220;ultimate responsibility&#8221; and must actively challenge the assumptions and processes of the stress-testing program.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Methodological rigour<\/b><span style=\"font-weight: 400;\">: New requirements for firm-wide model inventories and independent validation, including &#8220;out-of-sample&#8221; testing to ensure reliability during crises.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Strategic integration<\/b><span style=\"font-weight: 400;\">: Results must now explicitly feed into recovery and resolution planning, beyond traditional capital and liquidity planning.<\/span><\/li>\n<\/ul>\n<p><b>Next steps:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Authorized Institutions must now align their internal stress-testing architectures with these more rigorous standards, ensuring that results are integrated into their recovery and resolution planning, as well as their strategic business decisions.<\/span><\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 50px !important\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>International &#8211; FSB highlights private markets and stability risks<b><br \/>\n<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The Financial Stability Board (FSB) Chair<\/span> <a href=\"https:\/\/www.fsb.org\/uploads\/P130426.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">warns in a letter to the G20<\/span><\/a><span style=\"font-weight: 400;\"> that the conflict in the Middle East has created a significant shock to the global economy and increased financial stability risks. The letter says the financial system has so far remained resilient, but a more uncertain environment could cause multiple vulnerabilities to crystallise at the same time.<\/span><\/p>\n<p><b>Context:<\/b> <span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">The letter was sent by FSB Chair Andrew Bailey to G20 Finance Ministers and Central Bank Governors on 13 April 2026. The FSB says post-crisis reforms have strengthened resilience, but that the current geopolitical shock has made the outlook less predictable.<\/span><\/p>\n<p><b>Key takeaways:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The FSB warns of a possible \u201cdouble or triple whammy\u201d, where tighter financial conditions combine with existing weaknesses and trigger broader system stress.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sovereign bond markets are identified as a key area of concern because issuance remains historically large, leverage is concentrated among some funds pursuing similar strategies, and disorderly deleveraging could impair liquidity in core markets and generate cross-border spillovers.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Risk asset valuations remain vulnerable according to the letter. While some prices have already adjusted lower, the FSB says equity and debt risk premia are still compressed relative to historical norms, leaving room for sharper repricing if the macroeconomic outlook deteriorates further.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Private credit is singled out for close monitoring. The letter says investor sentiment had already weakened before the conflict, with concerns around asset quality, valuations and liquidity, and notes that some funds have faced increased redemption pressure and in some cases used structural redemption limits.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The FSB identifies three specific areas for further scrutiny in private credit: interlinkages between banks and private credit markets, the creditworthiness of borrowers, and valuation challenges for private credit assets.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The letter also points to growing connections between private equity, private credit and parts of the life insurance sector, and highlights wholesale funding markets, including repo and foreign exchange derivatives, as potential channels for shock transmission.<\/span><\/li>\n<\/ul>\n<p><b>Next steps:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The FSB will continue monitoring whether the current shock causes more than one vulnerability to crystallise at the same time and whether this leads to broader system effects or loss of confidence.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The FSB also plans for continued monitoring of repo and foreign exchange derivatives markets and will support IAIS work on risks linked to life insurers\u2019 exposures and wider market interconnections.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The letter reiterates the importance of continuing implementation of agreed international reforms, including Basel III standards.<\/span><\/li>\n<\/ul>\n\n<\/div>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 50px !important\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>UK &#8211; PRA consults on liquidity framework reforms<\/h2>\n<p><span style=\"font-weight: 400;\">The Prudential Regulation Authority (PRA) has<\/span> <a href=\"https:\/\/www.bankofengland.co.uk\/prudential-regulation\/publication\/2026\/march\/modernising-the-liquidity-policy-framework-consultation-paper\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">issued a Consultation Paper<\/span><\/a><span style=\"font-weight: 400;\"> proposing targeted reforms to the UK liquidity framework to improve banks\u2019 ability to monetise liquid assets during stress. The proposals focus on strengthening operational readiness and stress testing without increasing overall liquidity requirements. They primarily affect UK banks and PRA-supervised firms subject to liquidity regulation.<\/span><\/p>\n<p><b>Context:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The consultation builds on lessons from recent episodes of market stress, including rapid deposit outflows, and forms part of the PRA\u2019s broader efforts to modernise prudential standards. It aligns with international regulatory focus on liquidity resilience following the 2023 banking sector volatility.<\/span><\/p>\n<p><b>Key takeaways:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Focus on monetisation readiness<\/b><span style=\"font-weight: 400;\">: Firms would be required to assess their stock of liquid assets and identify operational or legal barriers to timely monetisation in stress scenarios.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Enhanced stress testing<\/b><span style=\"font-weight: 400;\">: Firms must test their ability to withstand severe liquidity outflows over a short horizon (e.g. within one week), reflecting faster-moving stress dynamics.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Removal of testing exemptions<\/b><span style=\"font-weight: 400;\">: Existing exemptions from annual monetisation testing for Level 1 assets (e.g. sovereign bonds) would be removed to ensure all assets can be readily converted to cash.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Operational preparedness<\/b><span style=\"font-weight: 400;\">: Firms are encouraged to ensure readiness to access central bank facilities, including having appropriate collateral and processes in place.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>No increase in liquidity buffers<\/b><span style=\"font-weight: 400;\">: The PRA emphasises that the reforms are intended to improve usability of existing buffers rather than require additional holdings.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Streamlined reporting<\/b><span style=\"font-weight: 400;\">: Data collection requirements would be simplified to avoid increasing regulatory reporting burdens.<\/span><\/li>\n<\/ul>\n<p><b>Next steps:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Consultation deadline is 17 June 2026. The PRA will review feedback and determine final policy measures, including any implementation timelines and transitional arrangements following the consultation period.<\/span><\/p>\n\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <style>section[data-anchor=row-69f48ee49db6e]::before {\n\t\t\t\tbackground-color: #f4f4f9;\n\t\t\t}<\/style>\n    <section class=\"bbg-row bg--custom-color  bg--f4f4f9 text--black bbg-row--full-bg-bleed\" data-anchor='row-69f48ee49db6e'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h3>Related Content<\/h3>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-4 bbg-column--halign-right\"\n    style=\"\"\n    >\n    \n<div\n  id=\"cta_1007165847583072363\"\n  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