December 11, 2017

PRA published the supervisory statement SS9/17 that sets out expectations on the content of recovery plans and group recovery plans. SS9/17 is relevant to UK banks, building societies, PRA-designated investment firms, and qualifying parent undertakings to which the Recovery Planning Part of the PRA Rulebook applies.

SS9/17 reflects the current expectations of PRA and may be revised as recovery planning becomes further embedded in firms’ risk management practices. It supersedes SS18/13  titled ”Recovery planning.” SS9/17 complements and should be read in conjunction with the Recovery Planning Part of the PRA Rulebook; Commission Delegated Regulation (EU) 2016/1075; EBA Guidelines on the range of scenarios to be used in recovery plans; EBA Guidelines on the minimum list of qualitative and quantitative recovery plan indicators; and EBA Recommendation on the coverage of entities in a group recovery plan. PRA recognizes that some aspects of recovery planning are less developed across the industry than others. Thus, it will take firms more time to meet the PRA’s expectations in these areas. Firms should therefore meet the following expectations by June 30, 2019:

  • Full separability analysis for disposal options
  • Modeling of capital and liquidity profiles in each scenario
  • Full analysis of funding needs by currency in each scenario
  • Integration of liquidity contingency plans (contingency funding plans)

PRA expects firms to meet all other expectations set out in the SS9/17 by June 30, 2018, or by the firm’s first annual update of their recovery plan, following publication of SS9/17, whichever is later.

 

Related Link: SS9/17 and Other Relevant Information

Keywords: Europe, UK, Banking, Recovery Planning, SS9/17, SS18/13, PRA

Related Articles
News

FSB to Evaluate Effects of Too-Big-To-Fail Reforms for Systemic Banks

FSB is seeking feedback as part of its evaluation of the effects of the too-big-to-fail reforms for banks.

May 23, 2019 WebPage Regulatory News
News

APRA Releases Minor Changes to Reporting Standards on SA-CCR for Banks

APRA released minor changes to the three reporting standards for the standardized approach for measuring counterparty credit risk exposures (SA-CCR).

May 22, 2019 WebPage Regulatory News
News

APRA on Industry Self-Assessments into Governance and Accountability

APRA released an information paper analyzing the self-assessments performed by 36 of the country’s largest banks, insurers, and superannuation licensees in response to the final report on the Prudential Inquiry into the Commonwealth Bank of Australia (CBA).

May 22, 2019 WebPage Regulatory News
News

PRA Consults on Maintenance of TMTP Under Solvency II

PRA published a consultation paper (CP11/19) that sets out its approach to update supervisory statement (SS6/16) on maintenance of the transitional measure on technical provisions (TMTP) under Solvency II.

May 22, 2019 WebPage Regulatory News
News

APRA Proposes to Amend Guidance on Residential Mortgage Lending

APRA is consulting on revisions to the prudential practice guide APG 223 on residential mortgage lending in Australia.

May 21, 2019 WebPage Regulatory News
News

IASB Proposes Improvements to IFRS 9 and IFRS 16

IASB published the exposure draft ED 2019/2 that proposes amendments to four IFRS standards, including IFRS 9 on Financial Instruments and IFRS 16 on Leases.

May 21, 2019 WebPage Regulatory News
News

Denis Beau of BDF on Supervisory Priorities for Climate-Change Risks

Denis Beau, the First Deputy Governor of BDF, delivered opening remarks at the BCBS-BSCEE-FSI High-level Meeting for Europe on banking supervision.

May 21, 2019 WebPage Regulatory News
News

ISDA CDM to be Deployed for UK Digital Regulatory Reporting Pilot

ISDA announced deployment of the ISDA Common Domain Model (ISDA CDM 2.0) to support the UK FCA, BoE, and participating financial institutions in testing phase two of the Digital Regulatory Reporting pilot for derivatives.

May 21, 2019 WebPage Regulatory News
News

MAS to Consolidate Regulation of Merchant Banks Under Banking Act

MAS published a consultation paper that proposes to consolidate the regulation of merchant banks under the Banking Act and to move merchant banks to a licensing regime under the MAS Act.

May 21, 2019 WebPage Regulatory News
News

ESAs Amend Technical Standards on Mapping of ECAIs Under CRR

ESAs published a second amendment to the implementing technical standards on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs) for credit risk under the Capital Requirements Regulation (CRR).

May 20, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3118