Featured Product

    PRA Provides Updated Guidance on COVID-19 Disclosures by Banks in UK

    April 27, 2021

    PRA published a statement that provides updated guidance to UK banks and building societies (also referred to as firms) on the disclosure of exposures subject to measures applied in response to the COVID-19 crisis. The statement highlights that firms should continue to use the templates published in July 2020 for semi-annual disclosure reference dates up to, and including, December 31, 2021. Firms may continue to disclose on a semi-annual basis, as at June 30, 2021 and December 31, 2021. Firms may also disclose at the half-year and year-end dates for their financial year, if they have an accounting reference date other than December 31, 2021.

    In July 2020, PRA had clarified that it expects certain firms to make disclosures on COVID-19 lending for the highest level of consolidation in the UK for semi-annual disclosure periods ending on dates up to, and including, December 31, 2020. Firms that should make these disclosures are, or are controlled by, global systemically important institutions (G-SIIs) or other systemically important institutions (O-SIIs) designated by PRA in the most recent list and those that have retail deposits equal to or greater than GBP 50 billion on an individual or consolidated basis. PRA noted in that statement that it would keep the approach for disclosure periods after this date under review. Given the continued use of COVID-19 support measures in lending by UK firms, PRA continues to see substantial benefit to its objectives in the disclosure of information on the effects of the measures that UK firms have taken in response to the COVID-19 crisis.

     

    Related Link

    Keywords: Europe, UK, Banking, COVID-19, Credit Risk, Disclosures, CRR, Basel, Loan Moratorium, Payment Deferrals, Reporting, PRA

    Featured Experts
    Related Articles
    News

    EBA Updates Filing Rules for Supervisory Reporting

    The European Banking Authority (EBA) published version 5.1 of the filing rules for supervisory reporting.

    October 19, 2021 WebPage Regulatory News
    News

    ECB Amends Guideline on Procedures for Collection of AnaCredit Data

    The European Central Bank (ECB) Guideline 2021/1829 on the procedures for the collection of granular credit and credit risk data has been published in the Official Journal of European Union.

    October 19, 2021 WebPage Regulatory News
    News

    ECB Amends Guideline on Procedures for Collection of AnaCredit Data

    The European Central Bank (ECB) Guideline 2021/1829 on the procedures for the collection of granular credit and credit risk data has been published in the Official Journal of European Union.

    October 19, 2021 WebPage Regulatory News
    News

    EBA Publishes Standards on Disclosure of Investment Policy Under IFR

    The European Banking Authority (EBA) published the final draft regulatory technical standards on disclosure of investment policy by investment firms, under the Investment Firms Regulation (IFR).

    October 19, 2021 WebPage Regulatory News
    News

    APRA Finalizes Guidance for New Prudential Standard on Remuneration

    The Australian Prudential Regulation Authority (APRA) published the prudential practice guide CPG 511 to assist banks, insurers, and superannuation licensees in meeting requirements of CPS 511, the new prudential standard on remuneration.

    October 18, 2021 WebPage Regulatory News
    News

    OCC Updated LIBOR Self-Assessment Tool for Banks

    The Office of the Comptroller of the Currency (OCC) published a bulletin that provides an updated self-assessment tool for banks to evaluate their preparedness for cessation of the London Interbank Offered Rate (LIBOR).

    October 18, 2021 WebPage Regulatory News
    News

    TCFD Updates Guidance for Financial Disclosures on Climate Risk

    The Financial Stability Board (FSB) published a report that examines the progress made toward disclosures aligned with recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

    October 14, 2021 WebPage Regulatory News
    News

    BCBS Report Examines Progress on Adoption of Basel III Framework

    The Basel Committee on Banking Supervision (BCBS) published the progress report on adoption of the Basel III regulatory framework in member jurisdictions.

    October 14, 2021 WebPage Regulatory News
    News

    ACPR Implements Updates Related to DPM Version 3.1

    The French Prudential Supervisory Authority (ACPR) has implemented, in its information system, updates linked to the Data Point Model (DPM) version 3.1.

    October 14, 2021 WebPage Regulatory News
    News

    EBA Note Examines Transition Risks of Benchmark Rates

    The European Banking Authority (EBA) published a thematic note that aims to identify and raise awareness of the transition risks of benchmark rates, as the London Interbank Offered Rate (LIBOR) and the Euro Overnight Index Average (EONIA) are close to being phased out.

    October 14, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7571