Events listed in PRA Rulebook
CP28/23 – Leverage ratio treatment of omnibus accounts and other minor corrections ...
ID 26397
The Prudential Regulation Authority (PRA) has launched a new consultation (CP28/23) on the exclusion of omnibus account balances from reserve requirements and various minor amendments to the leverage ratio reporting framework. Specifically, the PRA proposes three key measures: (1) Excluding reserves held on omnibus accounts from the leverage ratio calculation: The PRA proposes to exclude reserves held on omnibus accounts from the leverage ratio ...
PS19/23 – Responses to proposed minor amendments in CP8/23, Chapter 11 of CP12/23 ...
ID 26373
The Prudential Regulation Authority (PRA) has issued a Policy Statement which responds to (parts of) three previous consultations of the Authority, namely: 1. CP8/23 – Occasional consultation paper – April 2023 which consulted on proposes changes to the definition of „accounting principles“ in the Glossary, to the definition of „participating Solvency II undertaking“ also in the Glossary, one rule in the „auditor’s section“ of . ...
CP23/23 – Identification and management of step-in risk, shadow banking entities ...
ID 26085
The Prudential Regulation Authority (PRA) has launched a new consultation (CP23/23) on proposed new rules for CRR firms regarding step-in risk assessments and the transfer of two guidelines of the European Banking Authority (EBA), namely those on „limits on exposures to shadow banking entities“ and on „connected clients“, to new PRA supervisory statements. It’s important to note in this context that the new requirements ...
PS15/23 – The Strong and Simple Framework: Scope Criteria, Liquidity and Disclosure ...
ID 26075
The Prudential Regulation Authority (PRA) has issued a new Policy Statement (PS15/23) to finally implement a new prudential supervisory regime for smaller, less relevant institutions, including banks, building societies, and consolidated CRR firms with consolidated assets of £20 billion or less. In this context, the PRA provides responses to its consultation CP16/22 (EventID 18774), which consulted – among others – on the criteria that ...
Letter from the PRA on working with Deposit Aggregators
ID 25826
In view of the increasing use of deposit aggregators (DAs) which typically facilitate the depositing of funds across multiple banks via a single interface, the Prudential Regulation Authority (PRA) has drawn up a Dear CEO Letter addressed at financial institutions, including banks and building societies. **In this letter, the PRA sets out its expectations as to the steps institutions need to take to address ...
PS14/23 – The non-performing exposures capital deduction
ID 25767
Following a corresponding consultation in March this year (EventID 20142), the Prudential Regulation Authority has now published its final policy statement (PS14/23) as regards the removal of the Common Equity Tier 1 (CET1) deduction requirement for NPE (that aren’t adequately accounted for) and corresponding reporting templates or items in templates and references thereto. To recall, this requirement was retained from the EU and mandated ...
DP2/23 – FSCS general insurance limit
ID 25626
The Prudential Regulation Authority (PRA) has issued a discussion paper in which it seeks to explore the appropriateness of increasing Financial Services Compensation Scheme (FSCS) protection for eligible policyholders to 100% for certain types of General Insurance (GI). The discussion paper follows the publication of an emergency policy statement 21/20 in October 2020 which enhanced FSCS protection for eligible policyholders of buildings guarantee insurance ...
PRA Regulatory Digest – October 2023
ID 25613
The Prudential Regulation Authority (PRA) has published the latest version of its monthly regulatory digest (October 2023). The digest outlines the Authority’s ongoing regulatory activities ranging from the launch of consultations, to the issuance of policy statements, to the implementation of regulatory changes and provides links to corresponding (legal) documents. The regulatory digest presents a viable source of information to stay up-to-date on regulatory ...
PS9/23 – Remuneration: Ratio between fixed and variable components of total ...
ID 25453
Following a corresponding consultation earlier this year (EventID 19015), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have published their final joint policy statement as regards the removal of the bonus cap, that is the maximum incentive that may be paid to material risk takers of banks, building societies, and PRA-designated investment firms. To recall, based on scientific evidence, both regulators ...
CP22/23 – Occasional consultation paper – October 2023
ID 25290
The Prudential Regulation Authority, PRA, has launched an occasional consultation paper CP22/23 on miscellaneous, non-material changes to the PRA Rulebook. This time, the consultation paper includes two proposed changes: one relating to the Financial Services Compensation Scheme (FSCS) and one to forms to be filed under the Senior Managers and Certification Regime (SM&CR) as described below: *(1) The PRA is proposing to amend Depositor ...