PRA published a policy statement PS6/18 that provides feedback to the responses to chapters 2 to 6, 9, and 10 of the PRA and FCA consultation paper CP18/17. CP18/17 had proposed changes to the PRA Rulebook Parts and supervisory statements. PS6/18 also includes the final rules and the updated supervisory statements: SS13/13 on market risk and SS36/15 on the life insurance product reporting codes set out in the appendices under Solvency II. The policy statement and supervisory statements take effect from March 30, 2018.
Effective Date: March 30, 2018
Keywords: Europe, UK, Banking, Insurance, PS6/18, SS13/13, SS36/15, CRD IV, Solvency II, Reporting, Market Risk, PRA
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).