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    PRA Issues Supervisory Disclosures, Extends CP10/21 Comment Period

    July 30, 2021

    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.

     

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