Featured Product

    PRA Published Final Policies for Banking and Insurance Sectors

    July 20, 2017

    The PRA published two policy statements (PS19/17 and PS20/17) relevant to the banking and insurance sectors. These policy statements address changes to guidelines for completing regulatory reports, including reporting templates and instructions. The PRA also updated SS9/13, along with SS34/15, following PS19/17 and PS20/17.

    PS19/17 provides feedback to responses to the consultation paper CP2/17. It also includes the final rules and updated supervisory statements SS34/15 titled “Guidelines for Completing Regulatory Reports,” and SS9/13 titled “Securitization,” along with the ring-fenced bodies' reporting templates and instructions, specifically RFB001 to RFB008. This statement is relevant to all PRA-authorized firms. The PRA is still considering the response received to Chapter 2 on "Credit risk mitigation – secured guarantees" and will provide feedback in a separate PRA publication. Additionally, PS20/17 provides feedback to responses to consultation paper CP6/17. It contains final rules, updated SS34/15, and updated PRA101 to PRA103 (Capital+) templates and instructions, along with instructions for PRA108. It is relevant to PRA-authorized UK banks, building societies, PRA-designated investment firms, and non-European Economic Area banks authorized to accept deposits through a branch in the United Kingdom.

     

    The PRA also updated SS34/15which contains guidelines for completing regulatory reports and is addressed to all PRA-regulated firms that are required to submit supervisory reports under the Regulatory Reporting, Close Links, and Change in Control Parts of the PRA Rulebook. It sets out the PRA’s expectations on how firms should complete the data items and returns required by those Parts. Additionally, SS9/13 was updated following PS19/17 and it is aimed at firms to which Capital Requirements Directive (CRD IV) applies. It sets out the PRA’s expectations of firms in respect of securitization and supplements the rules in the Benchmarking of Internal Approaches and Credit Risk Part of the PRA Rulebook.


    Related Link: Press Release

    Keywords: Europe, United Kingdom, Banking, Insurance, PRA, Reporting Requirements, Securitization, Securities

    Related Articles
    News

    EBA Report on MREL Shows Progress in Resolution Planning

    EBA published the first quantitative report taking stock of the increased capacity of minimum requirements for own funds and eligible liabilities (MREL) in EU.

    February 17, 2020 WebPage Regulatory News
    News

    ESMA Updates Q&A on Credit Rating Agencies Regulation

    ESMA updated questions and answers (Q&A) document on the Credit Rating Agencies (CRA) Regulation.

    February 17, 2020 WebPage Regulatory News
    News

    EC Announces Funding for Sustainable Finance Project in France

    EC announced an investment for the latest projects, including a project on sustainable finance, under the LIFE program for the environment and climate action.

    February 17, 2020 WebPage Regulatory News
    News

    FDIC Releases Economic Scenarios for Stress Testing in 2020

    FDIC released the hypothetical economic scenarios for use in the upcoming stress tests for covered institutions with total consolidated assets of more than USD 250 billion.

    February 14, 2020 WebPage Regulatory News
    News

    EBA Acknowledges EC Adoption of Amended Supervisory Reporting Standard

    EBA acknowledged the adoption, by EC, of an Implementing Act with regard to the common reporting (COREP) and financial reporting (FINREP) changes, in accordance with the Capital Requirements Regulation or CRR.

    February 14, 2020 WebPage Regulatory News
    News

    APRA and ASIC Welcome Proposed Reforms for Superannuation Sector

    APRA and the Australian Securities and Investments Commission (ASIC) have jointly welcomed the proposed legislative reforms increasing the role of ASIC in the superannuation sector.

    February 14, 2020 WebPage Regulatory News
    News

    ESMA Responds to EC Consultation on Review of Benchmarks Regulation

    ESMA published its response to EC consultation on review of the Benchmarks Regulation in EU.

    February 14, 2020 WebPage Regulatory News
    News

    OSFI on Guide and Form for Replicating Portfolio Information Summary

    OSFI revised the instruction guide and form related to filing the Replicating Portfolio Information Summary.

    February 14, 2020 WebPage Regulatory News
    News

    FFIEC Publishes Guide to HMDA Reporting for Data Collected in 2020

    FFIEC issued the 2020 edition of guide to Home Mortgage Disclosure Act (HMDA) reporting for the data collected in 2020 and reported in 2021.

    February 13, 2020 WebPage Regulatory News
    News

    ISDA Guide on Smart Contracts for Equity and Interest Rate Derivatives

    ISDA has published the fourth and fifth installments in a series of legal guidelines for smart derivatives contracts.

    February 13, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4687