Events listed in [PRA] Prudential Regulation Authority

The Bank of England’s approach to statutory notice decisions for use of its ...

ID 26454
The Bank of England has launched a consultation on a proposed new statement of policy outlining its approach to the use of its requirements powers, which are utilized to ensure financial stability and achieve statutory objectives. This policy would clarify the procedures followed by the Bank in exercising its requirements power which enables the Bank to compel entities to take or refrain from or ...

Index Linked Treasury Stocks

ID 26408
The Prudential Regulation Authority (PRA) has published a press statement declaring the interest and principal that will be paid to holders of certain index-linked Treasury Stock in July 2024. Both bonds are linked to the Retail Prices Index. Specifically, – holders of the 2 1/2% Index-Linked Treasury Stock 2024 will be paid £4.8288 per £100 nominal of stock on July 17, 2024. The final ...

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 . ...

The Bank of England’s supervision of financial market infrastructures – ...

ID 26352
The Bank of England (BoE) has published its annual report on the supervision of financial market infrastructures (FMIs). The report covers the period from December 15, 2022 through December 16, 2023 and primarily describes the Bank’s supervisory focus and corresponding activities in the following three key areas: (1) The enhancement of the financial resilience of FMIs, particularly central counterparties (CCPs); (2) The improvement of ...

Asset Purchase Facility: Gilt Sales – Market Notice 15 December 2023

ID 26303
The Bank of England (BoE) has published a new market notice to announce its plan to sell a total of £8.15 billion worth of gilts during the first quarter (Q1) of the year. Unlike in previous quarters, the sales will no longer be evenly divided across gilts within the short-term (3-7 years remaining maturity), medium-term (8-20 years remaining maturity, and long-term (beyond 20 years ...

The Bank of England’s approach to resolution

ID 26292
The Bank of England (BoE) has recently updated its approach to resolution, outlining the framework available to resolve failing banks, building societies, and certain investment firms. The resolution framework aims to ensure that financial institutions can fail in an orderly manner, with losses borne by shareholders and unsecured creditors rather than the public and society as a whole. This approach helps maintain a stable ...

PS17/23 – Implementation of the Basel 3.1 standards near-final part 1

ID 26199
The Prudential Regulation Authority (PRA) has published a first policy statement (PS17/23) which includes „near final rules“ to implement the remaining Basel III standards that have not yet been introduced into the regulatory framework for the prudential supervision of banks, building societies, investment firms, and financial holding companies in the UK. The document is a „first“ policy statement in that it does not cover ...

Operating the Interim Capital Regime

ID 26198
As announced in its concurrently published policy statement (PS17/23) (see EventID 24391), the Prudential Regulation Authority (PRA) has now issued a new near final statement of policy (SoP) on the operation of the Interim Capital Regime (ICR) – particularly as it relates to „simpler-regime firms“ or better „Small Domestic Deposit Takers“ (SDDTs). To recapture, the noted policy statement permits SDDTs and consolidated group SDDTs ...

Letter from Dan Curtis: 2023 Thematic review of expected underwriting profit ...

ID 26155
Dan Curtis, the Head of Division from General Insurance Risk Specialists of PRA writes a letter to Chief Risk Officers of general insurance firms regulated by the PRA regarding the key findings from the thematic review. At the moment, many firms seem to assume „increasing underwriting profits within their approved Internal Models (IM)“, which leads to a reduction of SCR without a justification. PRA ...
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