Deloitte comments on the deadline for near-final ring-fencing submissions has been saved
Deloitte comments on the deadline for near-final ring-fencing submissions
29 January 2016
Commenting on the latest deadline for UK banks to submit ring-fencing plans to the Prudential Regulation Authority (PRA), Simon Zeital, financial services partner at Deloitte, said:
"We have seen banks make a significant investment over the past year to develop their plans.
"This is not a time to relax though. What is clear is that banks are at different stages. It is important that each now marshals its resources and management team behind tackling remaining issues and ensuring implementation remains on track.
"All banks have a number of important points of detail still to tackle, which supervisors will no doubt pore over. In general further focus needs to be given on understanding how fundamental the impact of any particular ring-fencing configuration is on its business strategy and competitive position."
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