Featured Product

    UK Treasury Sub-Committee Seeks Views on Strong and Simple Framework

    June 24, 2022

    The UK Treasury Sub-Committee on Financial Services Regulations is seeking views, until July 11, 2022, on the Prudential Regulation Authority (PRA) proposals on "Strong and Simple Framework."

    Earlier, in April 2022, PRA had published the consultation paper CP5/22 in context of the development a "simpler regime" for the smallest firms, the comment period for which will end on July 22, 2022. The Strong and Simple Framework of PRA seeks to mitigate the "complexity problem" that can arise when the same prudential requirements are applied to all firms regardless of their size and business model, including to control risks and hold adequate capital. The draft proposals aim to simplify the prudential framework for smaller or non-systemic banks and building societies, while maintaining their resilience. The Treasury Sub-Committee proposed a call for evidence to seek stakeholder views on:

    • the Strong and Simple Framework proposal and the PRA consultation on this, including whether activities excluded from the framework should be included, whether activities included within the framework should be excluded, and whether the classifications of firms that are included or excluded are appropriate.
    • the scope of the Strong and Simple Framework.
    • whether the framework proposals are appropriate to safeguard financial stability and the safety and soundness of individual firms.
    • whether the framework proposals sufficiently simplify the rules for affected firms.
    • how the proposals should be implemented in the context of the Basel 3.1 Standards on Banking Supervision and/or any other relevant international rules or requirements.
    • how the proposals should be implemented in the context of firms using their own Internal Ratings-Based models.
    • the effect of the framework on competition in the UK market.
    • the wording of the draft instrument giving effect to the proposal.


    Related Links



    Keywords: Europe, UK, Banking, Basel, Regulatory Capital, Reporting, Strong and Simple Framework, Simpler-Regime Firm, Financial Stability, Internal Models, PRA, UK Treasury Committee

    Featured Experts
    Related Articles

    APRA Publishes Results of Climate Risk Self-Assessment Survey

    The Australian Prudential Regulation Authority (APRA) has published the findings of its latest climate risk self-assessment survey conducted across the banking, insurance, and superannuation industries.

    August 04, 2022 WebPage Regulatory News

    ACPR Publishes Updates Related to CRD IV and Covered Bonds

    The French Prudential Supervisory Authority (ACPR) published a notice related to the methods for calculating and publishing prudential ratios under the Capital Requirements Directive (CRD IV) and the minimum requirement for own funds and eligible liabilities (MREL).

    August 03, 2022 WebPage Regulatory News

    BIS Paper Contributes to Debate on Regulating NBFIs and Big Techs

    The Financial Stability Institute (FSI) of the Bank for International Settlements recently published a paper proposing a framework for classifying financial stability regulation as either entity-based or activity-based.

    August 03, 2022 WebPage Regulatory News

    EIOPA Publishes Guidance on Climate Change Scenarios in ORSA

    The European Insurance and Occupational Pension Authority (EIOPA) published the risk dashboard based on Solvency II data and the final version of the application guidance on climate change materiality assessments and climate change scenarios in the Own Risk and Solvency Assessment (ORSA).

    August 02, 2022 WebPage Regulatory News

    EBA and ECB Respond to Proposals on Sustainability Disclosures

    The European Banking Authority (EBA) and the European Central Bank (ECB) published their responses to the consultations of the International Sustainability Standards Board (ISSB) and the European Financial Reporting Advisory Group (EFRAG) on sustainability-related disclosure standards.

    August 01, 2022 WebPage Regulatory News

    BIS Report Notes Existing Gaps in Climate Risk Data at Central Banks

    A Consultative Group on Risk Management (CGRM) at the Bank for International Settlements (BIS) published a report that examines incorporation of climate risks into the international reserve management framework.

    July 29, 2022 WebPage Regulatory News

    EBA Publishes Multiple Regulatory Updates for Regulated Entities

    The European Banking Authority (EBA) published the final guidelines on liquidity requirements exemption for investment firms, updated version of its 5.2 filing rules document for supervisory reporting, and Single Rulebook Question and Answer (Q&A) updates in July 2022.

    July 29, 2022 WebPage Regulatory News

    EIOPA Issues SII Taxonomy and Guide on Sustainability Preferences

    The European Insurance and Occupational Pensions Authority (EIOPA) published Version 2.8.0 of the Solvency II data point model (DPM) and XBRL taxonomy.

    July 29, 2022 WebPage Regulatory News

    EESC Opines on Proposals on CRR and European Single Access Point

    The European Union published, in the Official Journal of the European Union, an opinion from the European Economic and Social Committee (EESC); the opinion is on the proposal for a regulation to amend the Capital Requirements Regulation (CRR).

    July 29, 2022 WebPage Regulatory News

    HM Treasury Publishes Multiple Regulatory Updates in July 2022

    HM Treasury published a draft statutory instrument titled “The Financial Services (Miscellaneous Amendments) (EU Exit) Regulations 2022,” along with the related explanatory memorandum and impact assessment.

    July 29, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8423