PRA Issues Supervisory Disclosures, Extends CP10/21 Comment Period
The Prudential Regulation Authority (PRA) extended the comment period, until August 09, 2021, for the consultation paper CP10/21 on the implementation of rules on nonperforming loan securitizations; meanwhile, the Authority highlighted that past responses to this consultation's mailbox have not been received due to a technical issue. Additionally, PRA has disclosed information on its supervisory practices in the banking sector. The public disclosures cover application of rules and guidance, options and discretions, and supervisory review and evaluation process or SREP, in addition to the aggregate statistical data as at December 31, 2019.
This information on supervisory disclosures is intended to enable a comparison of the approaches adopted by the competent authorities of different member states in European Union. The material published will be of primary interest to PRA-authorized banks, building societies, investment firms, and credit unions. Prior to the withdrawal of the United Kingdom from the European Union and as a member of the European Banking Authority, PRA was required, as a competent authority, to publish information on rules and guidance, options and discretions, Supervisory Review and Evaluation Process (SREP), and aggregate statistical data, alongside submitting the information to the European Banking Authority in line with Article 143 of the Directive 2013/36/EU (Capital Requirements Directive or CRD IV) and the Commission Implementing Regulation 650/2014. Subsequent to the UK’s withdrawal from the European Union, PRA has agreed, on a voluntary basis, to provide this data for the period to end-2020.
Related Links
- Notification on CP10/21
- Overview of Supervisory Disclosures
- Rules and Guidance (XLSX)
- Options and Discretions (XLSX)
- Supervisory Review and Evaluation Process (XLSX)
- Aggregate Statistical Data (XLSX)
Keywords: Europe, UK, Banking, SREP, Statistical Data, Options and Discretions, CRR/CRD, Basel, Brexit, NPL, Securitization, CP10/21, Extending Comment Period, PRA
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Related Articles
EBA Clarifies Use of COVID-19-Impacted Data for IRB Credit Risk Models
The European Banking Authority (EBA) published four draft principles to support supervisory efforts in assessing the representativeness of COVID-19-impacted data for banks using the internal ratings based (IRB) credit risk models.
EP Reaches Agreement on Corporate Sustainability Reporting Directive
The European Council and the European Parliament (EP) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD).
PRA Consults on Model Risk Management Principles for Banks
The Prudential Regulation Authority (PRA) launched a consultation (CP6/22) that sets out proposal for a new Supervisory Statement on expectations for management of model risk by banks.
EC Regulation Amends Standards for Calculating Credit Risk Adjustments
The European Commission (EC) published the Delegated Regulation 2022/954, which amends regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.
BIS Hub Updates Work Program for 2022, Announces New Projects
The Bank for International Settlements (BIS) Innovation Hub updated its work program, announcing a set of projects across various centers.
EIOPA Issues Cyber Underwriting Proposal, Statement on Open Insurance
The European Insurance and Occupational Pensions Authority (EIOPA) published two consultation papers—one on the supervisory statement on exclusions related to systemic events and the other on the supervisory statement on the management of non-affirmative cyber exposures.
US Senate Members Seek Details on SEC Proposed Climate Disclosure Rule
Certain members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a letter to the Securities and Exchange Commission (SEC)
EIOPA Consults on Review of Securitization Framework in Solvency II
The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on the advice on the review of the securitization prudential framework in Solvency II.
UK Authorities Issue Regulatory and Reporting Updates for Banks
The Prudential Regulation Authority (PRA) issued a statement on PRA buffer adjustment while the Bank of England (BoE) published a notice on the statistical reporting requirements for banks.
BCBS Issues Climate Risk Principles while HKMA Expresses Its Support
The Basel Committee on Banking Supervision (BCBS) issued principles for the effective management and supervision of climate-related financial risks.
