Events listed in [PRA] Prudential Regulation Authority
2023 list of UK headquartered global systemically important institutions (G-SII)
ID 25968
The Prudential Regulation Authority has published a new list of UK banking institutions considered to be globally systemically important institutions (G-SII) along with their assigned sub-category based upon which the buffer rate is determined. The new list is valid from January 1, 2025. Table 1 – List of G-SIIs
CP25/23 – Supervisory statement – Prudential assessment of acquisitions and ...
ID 25915
The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have launched a joint consultation on the replacement of the EU Guidelines for the prudential assessment of acquisitions and increase of holdings in the financial sector (3L3 Guidelines). The guidelines set out the procedures to be followed and the criteria to be considered in evaluating acquisitions and large position increases, including – the ...
Bank of England and Financial Conduct Authority – Memorandum of Understanding ...
ID 25913
The Bank of England’s Prudential Regulation Authority (PRA) has issued a press statement to inform of the findings from a recent review of its Memorandum of Understanding (MoU) concluded by the PRA itself and the Financial Conduct Authority (FCA) as regards the supervision of financial market infrastructures. Having engaged with firms dedicated as financial market infrastructures (FMIs), such as central counterparties, recognized investment exchanges, ...
The Bank of England’s fees regime for financial market infrastructure supervision ...
ID 25906
The Bank of England (BoE) has published a final Policy Statement on its upcoming fees and levies for the supervision of financial market infrastructures (FMIs) in the Bank’s fee year 2023/24 (March 1 2024 – February 28, 2025) following a corresponding consultation earlier this year (please see EventID 22381 in this context for more information). For purposes of the policy statement, FMIs include (incoming) ...
2023 list of UK firms designated as other systemically important institutions ...
ID 25873
The Prudential Regulation Authority (PRA) has published a new list of UK banking institutions considered to be other systemically important institutions (O-SII) based upon the PRA’s approach for the identification of such entities (please see Event ID 18370 in this context for more information or follow this link). The following list depicts the new designations: Figure 1 – List of O-SIIs
Other systemically important institutions (O-SII) buffer rates for ring-fenced ...
ID 25868
The Prudential Regulation Authority (PRA) has published a press statement to inform of the new capital buffer rates for institutions deemed to be „other systemically important institutions (O-SIIs)“ following a corresponding designation by the PRA (please see EventID 23956 in this context). The rates are illustrated in the tables below: ***Capital Buffer Requirement per Sub-Group and included Ring-Fenced Banks (RFBs) designated as O-SIIs beginning ...
CP24/23 – Funded reinsurance
ID 25845
The Prudential Regulation Authority (PRA) has published a consultation paper (CP24/23) to seek feedback on a newly proposed supervisory statement titled „Funded reinsurance“ for life insurance firms engaging in funded reinsurance. Funded reinsurance involves arrangements where an insurance company (the cedant) transfers a portion or all of the risks associated with its policies, in this case annuities, to another party, the reinsurer. This transfer ...
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 ...
PRA statement on the recalculation of the Transitional Measure on Technical ...
ID 25810
The Bank of England’s Prudential Regulation Authority (PRA) has published a statement addressed at insurance and reinsurance undertakings as regards the recalculation of the transitional measure on technical provisions (TMTP) which permits firms to recalculate and adjust their technical provisions on Solvency II Pillar 2 liabilities following the implementation of Solvency II over a period of time so as to reduce the overall impact ...
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 ...