Featured Product

    PRA Publishes Consultation Paper on MREL Reporting

    January 08, 2018

    PRA published the consultation paper CP1/18 that proposes PRA expectations for reporting on the minimum requirement for own funds and eligible liabilities (MREL) through updates to the supervisory statement SS19/13 on resolution planning. The proposals in the CP1/18 aim to provide PRA and BoE with information to monitor firms’ progress toward meeting interim MREL and their eventual compliance with end-state MREL, to ensure that the policy objectives that underpin MREL are met. The consultation closes on April 09, 2018.

    Appendix to CP1/18 sets out proposed amendments to SS19/13, draft reporting templates, and instructions. CP1/18 is relevant to PRA-authorized UK banks, building societies, and UK-designated investment firms and their qualifying parent undertakings, to which the Resolution Pack Part of the PRA Rulebook applies. In particular, this would be most relevant to firms notified by the BoE that they are likely to be subject to:

    • External interim and/or end-state MREL in excess of regulatory capital requirements, as articulated in the Bank’s statement of policy on its approach to setting MREL
    • Internal interim and/or end state MREL in excess of regulatory capital requirements, as proposed in the BoE’s consultation paper on internal MREL 

    CP1/18 should be read in conjunction with the Resolution Pack Part of the PRA Rulebook, the MREL Statement of Policy, and the consultation paper on internal MREL.

     

    Related Link: Press Release

    Comment Due Date: April 09, 2018

    Keywords: Europe, UK, Banking, MREL, Internal MREL, Reporting, Resolution Planning, PRA

    Featured Experts
    Related Articles
    News

    EBA Publishes Phase 2 of Technical Package on Reporting Framework 2.10

    EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.

    July 10, 2020 WebPage Regulatory News
    News

    FASB Proposes to Delay Implementation of Insurance Contracts Standard

    FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).

    July 09, 2020 WebPage Regulatory News
    News

    APRA Updates Regulatory Approach to Loan Deferrals Amid COVID Crisis

    APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.

    July 09, 2020 WebPage Regulatory News
    News

    BCBS and FSB Set Out Recommendations for Benchmark Transition

    BCBS and FSB published a report on supervisory issues associated with benchmark transition.

    July 09, 2020 WebPage Regulatory News
    News

    IAIS Sets Out Recommendations for Benchmark Transition for Insurers

    IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.

    July 09, 2020 WebPage Regulatory News
    News

    ESMA Updates Reporting Manual on European Single Electronic Format

    ESMA updated the reporting manual on the European Single Electronic Format (ESEF).

    July 09, 2020 WebPage Regulatory News
    News

    EBA Calls on Resolution Authorities to Consider Impact of COVID Crisis

    EBA published a statement on resolution planning in light of the COVID-19 pandemic.

    July 09, 2020 WebPage Regulatory News
    News

    BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework

    BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework

    July 08, 2020 WebPage Regulatory News
    News

    ECB Guideline on Materiality Threshold for Credit Obligations Past Due

    ECB published a guideline (2020/97), in the Official Journal of European Union, on the definition of materiality threshold for credit obligations past due for less significant institutions.

    July 08, 2020 WebPage Regulatory News
    News

    FED Temporarily Revises FR Y-14 With Respect to PPP and CARES Act

    FED temporarily revised the capital assessments and stress testing reports (FR Y-14A/Q/M) to implement the changes in response to the COVID-19 pandemic.

    July 08, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5458