Events listed in [PRA] Prudential Regulation Authority
Bank of England report on climate-related risks and the regulatory capital ...
ID 22243
The Prudential Regulation Authority (PRA) has published a new report entitled climate-related risks and the regulatory capital frameworks. The report provides an update on the activities and findings since the last publication of a similar report in 2021, the so-called Climate Change Adaptation Report 2021. The 2021 outlined the then current framework for capturing climate-related risks in the banking and insurance sector, including the ...
Understanding climate-related disclosures of UK financial institutions
ID 22228
The Prudential Regulation Authority, PRA, has published a new working paper in which it presents the findings from voluntary climate-related disclosures of UK banks and insurance undertakings. The paper thereby specifically looks at – the scope of the disclosures altogether; – the comparability of the disclosures; – the factors that seem to incentivize or keep firms to make these disclosures; and – the possible ...
Payment systems memorandum of understanding
ID 22171
The Bank of England (BoE) has issued a press statement to inform of the findings from a recent review of its Memorandum of Understanding (MoU) concluded by the BoE itself, the Financial Conduct Authority (FCA), the Payment Systems Regulator (PSR), and the Prudential Regulation Authority (PRA) as regards the supervision of payment systems in UK. Having reviewed the feedback from stakeholders and having considered ...
Letter from Mel Beaman on firms’ preparations for the second Resolvability ...
ID 22160
In view of the upcoming second assessment of banks‘ and building societies‘ „preparations for resolution under the Resolvability Assessment Framework (RAF), Executive Director Mrs. Melanie Beaman of the Bank of England has published an open letter addressed at Chief Financial Officers of supervised institutions. The letter aims to reiterate the Bank’s expectations in this context, provide guidance to institutions as regards certain provisions of ...
Bank of England announces supervisory action on LME Clear
ID 22137
Following last year’s announcement of the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority of the Bank of England (PRA) to initiate further steps as regards the trade suspension of nickel trading on the London Metal Exchange (LME) that took place between March 8 and March 15, 2022, the PRA has now issued another statement in this context. Specifically, in view of LME ...
PRA Regulatory Digest – February 2023
ID 22075
The Prudential Regulation Authority (PRA) has published the latest version (February 2023) of its monthly regulatory digest. 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 ...
Statistical Notice 2023/01
ID 22070
The Bank of England (BoE) has published a follow-up press statement (Statistical Notice 2023-01) in connection with its proposal to aggregate certain (statistical) reporting data submitted by financial institutions subject to the supervision of the Prudential Regulation Authority (PRA) in the Bank’s own disclosures (please see EventID #16952 for the original proposal and EventID #18489 for the first update on the proposal). To recall, ...
CP4/23 – The Strong and Simple Framework: Liquidity and Disclosure ...
ID 22047
The Prudential Regulation Authority (PRA) has launched a first consultation on putting the currently proposed Strong and Simple Framework to work for smaller, non-systemic banks, building societies, and investment firms (please see consultation paper CP5/22 and EventID 15882 for more information on the proposed framework). The PRA thereby seeks to simplify its prudential regulation requirements for firms that qualify for the framework so as ...
CP5/23 – ‘Remuneration: Enhancing proportionality for small firms’
ID 22038
The Prudential Regulation Authority (PRA) has launched a new consultation (CP5/23) as regards the remuneration requirements of small CRR-regulated firms. The background to this consultation is that small CRR-regulated firms are still facing burdensome and costly requirements as regards their remuneration policies despite the fact that the UK retained Capital Requirements Directive IV (CRD IV) and its successor, the CRD V – all transposed ...
Policy Statement: Changes to reporting requirements, procedures for data quality ...
ID 22012
Following a joint consultation in November 2021 as regards the improvement of data quality in reports to be provided under the retained European Market Infrastructure Regulation (UK EMIR), the streamlining of such reports, and the ease of the registration process for trade repositories (TRs), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have now published their joint Policy Statement (PS23/2) in ...