Mark Your Calendar: Key Dates for Basel 3.1 and SDDT
Update [17 January 2025]: The Prudential Regulation Authority (PRA) has postponed Basel 3.1 implementation to 1 January 2027, allowing time for clarity on the plans for its implementation in the United States. Transitional periods will be adjusted to ensure full implementation by 1 January 2030. The PRA has also paused the Pillar 2 data collection exercise and will extend the Interim Capital Regime deadline, with further updates to follow.
The timeline provided in this article will be refreshed in due course.
It has been approximately three months since the PRA released the second part of its near-final rules for implementing the Basel 3.1 standards in the UK. With the official implementation date of 1 January 2026 less than a year away, the clock is ticking for firms to ensure compliance. Alongside its Basel 3.1 announcements, the PRA shared details of the Interim Capital Regime (ICR), which is relevant to Small Domestic Deposit Taker (SDDT) firms for the period to 31 December 2026.
As the deadline approaches, banks are at various stages of their preparation journeys. For those that have yet to pick up speed, 2025 will be a critical window to accelerate progress and meet the upcoming requirements.
While the implementation date of 1 January 2026 is top of mind for many, it is essential not to overlook several key milestones in 2025. These will be particularly relevant both for firms seeking SDDT status and banks navigating Basel 3.1 requirements.
^Modification by Consent (MbC) for SDDT eligible firms, which becomes an ICR Firm
How We Can Help: Navigating Basel 3.1 and SDDT
Preparing for Basel 3.1 or aligning with the Strong and Simple Framework presents a variety of challenges. At Katalysys, we combine deep expertise in prudential regulatory requirements with practical implementation insights, specialising in support for small- and medium-sized banks.
We are currently assisting clients with:
Workshops and training tailored to specific needs.
Gap and impact analyses to identify readiness and areas for improvement.
Preparation for data collection exercises aligned with regulatory expectations.
Documenting or updating assumptions and interpretations in regulatory reporting.
Applications for permissions and modifications by consent to the PRA.
Integrating regulatory impacts into the ICAAP for comprehensive planning.
Reviewing regulatory returns, including post-implementation Basel 3.1 adjustments.
For more information or to discuss your requirements, please contact:
For more information, please contact:
Josh Nowak
Managing Director, Risk & Regulatory Consulting
T: +44 (0)7587 720988
Manish Patidar
Director, Regulatory Consulting
T: +44 (0)7766 001 643