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PRA statement on the EU requirement on prudential treatment of software assets

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The FINANCIAL -- According to Bank of England, CRR Article 36(1)(b) exempts software assets from the deduction requirement for intangible assets from Common Equity Tier 1 (CET1), as set out in the Regulation. In accordance with the European Union (Withdrawal Agreement) Act 2020, this requirement now applies to PRA-regulated firms.…