BoE and PRA Update PS5/19 on Approach for Withdrawal from EU
BoE and PRA updated a policy statement (PS5/19) that makes a small amendment to the PRA Rulebook under the (EU Exit) Instrument 2019 in Appendix B.2. This updates the date on which the new liquidity reporting rules will commence, to take into account the extension of the Article 50 negotiating period and consequent change in exit day. PS5/19 has been corrected to reflect that Annex BF to PRA Rulebook: (EU Exit) Instrument 2019 does not come into force on July 01, 2019 but instead comes into force on exit day, as set out in Appendix B.2A: PRA Rulebook: EU Exit (Amendment) Instrument 2019.
PS5/19 contains final versions of policy materials on EU Exit Instruments, the related supervisory statements (SS1/19, SS2/19, and SS18/15), and a statement of policy (SoP) titled "Interpretation of EU Guidelines and Recommendations: BoE and PRA approach after the UK’s withdrawal from the EU." PS5/19 also includes supervisory statement on non-binding materials related to the financial market infrastructure supervision. All EU Exit Instruments appended to the PS5/19 update have been finalized and have the commencement date of exit day. BoE will communicate further in the event of other relevant developments.
Related Links
- Notification
- PS5/19 (PDF)
- Appendix B.2A: PRA Rulebook: EU Exit (Amendment) Instrument 2019 (PDF)
- Appendix B.2: PRA Rulebook: (EU Exit) Instrument 2019 (PDF)
Keywords: Europe, EU, UK, Banking, Insurance, Brexit, EU Withdrawal, Regulatory and Supervisory Approach, PS5/19, PRA rulebook, PRA, BoE
Related Articles
|
News
US Agencies Consult on Capital Treatment of Land Development LoansUS Agencies (FDIC, FED, and OCC) issued a proposed rule on the treatment of loans that finance the development of land for purposes of the one- to four-family residential properties exclusion in the definition of high volatility commercial real estate (HVCRE) exposure in the regulatory capital rule.
July 12, 2019
WebPage
Regulatory News
|
|
News
EBA Single Rulebook Q&A: Second Update for July 2019Under the Single Rulebook question and answer (Q&A) updates for this week, EBA published answers to five questions related to supervisory reporting.
July 12, 2019
WebPage
Regulatory News
|
|
News
ESMA Updates Manual for European Single Electronic Format in EUESMA updated the reporting manual for European Single Electronic Format (ESEF).
July 12, 2019
WebPage
Regulatory News
|
|
News
FED Updates Supplemental Instructions for Reporting Form FR Y-9CFED updated the supplemental instructions for FR Y-9C reporting.
July 12, 2019
WebPage
Regulatory News
|
|
News
EBA Publishes Report on Monitoring Implementation of LCR in EUEBA published its first report on the monitoring of the implementation of liquidity coverage ratio (LCR) in EU.
July 12, 2019
WebPage
Regulatory News
|
|
News
APRA Applies Additional Capital Requirements to Three Australian BanksAPRA is applying additional capital requirements to three major banks in Australia to reflect higher operational risk identified in their risk governance self-assessments.
July 11, 2019
WebPage
Regulatory News
|
|
News
IMF Report on 2019 Article IV Consultation on Euro Area PoliciesIMF published its staff report in context of the 2019 Article IV consultation on euro area policies with member countries.
July 11, 2019
WebPage
Regulatory News
|
|
News
FSB to Survey Practices on Cyber Incident Response and RecoveryFSB launched a survey on the industry practices on cyber incident response and recovery.
July 11, 2019
WebPage
Regulatory News
|
|
News
ECB Appoints New Members of Supervisory BoardThe Governing Council of ECB appointed Edouard Fernandez-Bollo, Kerstin af Jochnick, and Elizabeth McCaul as representatives to the Supervisory Board of ECB Banking Supervision, for a five-year non-renewable term.
July 11, 2019
WebPage
Regulatory News
|
|
News
OSFI Consults on Applying Proportionality to Pillar 1 Rules in CanadaOSFI published a discussion paper seeks input on possible tailoring of the capital and liquidity requirements for small and medium-size deposit-taking institutions.
July 11, 2019
WebPage
Regulatory News
|
