We were very supportive of the PRA’s initiative to design a more proportionate approach to the prudential regulation of non-systemic banks and building societies but encouraged the PRA to consider increasing the celling below which firms would be eligible for the simpler firms’ regime to £25 billion, from £15 billion. We also raised a more technical question about the definition of a UK exposure  in connection with the requirement that a simpler firm should have at least 85 per cent of its exposure in the UK.