PRA 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. PRA also submitted this information to EBA, in line with Article 143 of the Capital Requirements Directive (CRD IV) and the Commission Implementing Regulation 650/2014. This information is intended to enable a comparison of the approaches adopted by the competent authorities of different member states in EU.
The disclosed supervisory practices include the way in which UK exercises the options and national discretions available in the banking legislation in EU and the general criteria and methodologies used by national authorities in the supervisory review and evaluation process. The document on disclosures of options and discretions presents information on the exercise of options and discretions set out in CRD IV, CRR, and LCR Delegated Regulation (EU 2015/61); transitional options and discretions set out in CRD IV and CRR; and variable elements of remuneration (in Article 94 of CRD IV).
FSB finalized the toolkit of effective practices to assist financial institutions in their cyber incident response and recovery activities.
HKMA urged authorized institutions to take early action to adhere to the IBOR Fallbacks Protocol, which ISDA is expected to publish soon.
FSB published a global transition roadmap for London Inter-bank Offered Rate (LIBOR).
HM Treasury published a document that summarizes the responses received from a consultation on the approach of UK to transposition of the revised Bank Resolution and Recovery Directive (BRRD2).
HM Treasury published the government response to the feedback received on the consultation for updating the prudential regime of UK before the end of the Brexit transition period.
In a recent statistical notice, BoE announced publication of the reporting schedule for statistical returns for 2021.
EC welcomed the joint declaration by 25 EU member states on building the next generation of cloud in Europe.
PRA published the final policy statement PS22/20, which contains the updated supervisory statement SS12/13 on counterparty credit risk.
FSB published an update on its work to address market fragmentation. FSB is working in this area in collaboration with the other standard-setting bodies.
EBA proposed revisions to the guidelines on major incident reporting under the second Payment Service Directive (PSD2).