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

    FSI Paper Examines Use of Suptech Initiatives by Financial Authorities

    The Financial Stability Institute (FSI) of BIS published a paper that examines the suptech developments by analyzing suptech initiatives of 39 financial authorities globally.

    October 17, 2019 WebPage Regulatory News
    News

    US Agencies Consult on Policy Statement on Allowance for Credit Losses

    US Agencies (FDIC, FED, NCUA, and OCC) are consulting on the policy statement on allowances for credit losses and on the guidance on credit risk review systems.

    October 17, 2019 WebPage Regulatory News
    News

    PRA Consults on Approach to Supervising Liquidity and Funding Risks

    In consultation paper (CP27/19), PRA published a proposal (CP27/19) to update the supervisory statement SS24/15 on the PRA approach to supervising liquidity and funding risk.

    October 17, 2019 WebPage Regulatory News
    News

    FSB Report Examines Implementation and Impact of G20 Financial Reforms

    FSB published fifth annual report on the implementation and effects of the G20 financial regulatory reforms.

    October 16, 2019 WebPage Regulatory News
    News

    EBA Launches Consultation on Comprehensive Pillar 3 Disclosures

    EBA proposed the new comprehensive implementing technical standard (ITS) for public disclosures by financial institutions.

    October 16, 2019 WebPage Regulatory News
    News

    EBA Consults on Revised Technical Standards on Supervisory Reporting

    EBA launched a consultation on the revised implementing technical standards, or ITS, on supervisory reporting.

    October 16, 2019 WebPage Regulatory News
    News

    BoE and FCA Examine Use of Machine Learning in Financial Sector in UK

    BoE and FCA published a report on the results of a joint survey by BoE and FCA in 2019 to better understand the use of machine learning in the financial services sector in UK.

    October 16, 2019 WebPage Regulatory News
    News

    BCBS Report Examines Progress on Adoption of Basel Framework

    BCBS published the seventeenth progress report on adoption of Basel regulatory framework.

    October 16, 2019 WebPage Regulatory News
    News

    APRA Proposes Measures to Strengthen Capital for Bank Depositors

    APRA proposed changes to APS 111, which is the prudential standard on measuring capital adequacy and establishes the criteria for regulatory capital requirements of authorized deposit-taking institutions.

    October 15, 2019 WebPage Regulatory News
    News

    EIOPA Consults on Technical Advice for the 2020 Review of Solvency II

    EIOPA is consulting on an opinion that sets out technical advice for the 2020 review of Solvency II.

    October 15, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3981