Events listed in [PRA] Prudential Regulation Authority
Deep learning model fragility and implications for financial stability and ...
ID 24816
The Bank of England has published a new Staff Working Paper (No. 1,038) titled „Deep learning model fragility and implications for financial stability and regulation“ dealing with the increasing use of deep learning models (AI) in the financial market and the concerns surrounding the trustworthiness of their results. **The paper examines the stability of predictions and explanations of different deep learning models, which differ ...
PRA Regulatory Digest – August 2023
ID 24798
The Prudential Regulation Authority (PRA) has published the latest version (August 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 ...
Ensuring continuity of critical clearing services: the Bank of England’s approach ...
ID 24529
**The Bank of England (BoE) has launched a new consultation on a proposed new Statement of Policy (SoP) – „Ensuring continuity of critical clearing services: the Bank of England’s approach to discretionary payments by central counterparties“ which would outline the Bank’s approach to give directions to recognized UK central counterparties (CCPs) that restrict or prohibit „discretionary payments“ (dividend payments, flexible remuneration, eq ...
PRA Regulatory Digest – July 2023
ID 24509
The Prudential Regulation Authority (PRA) has published the latest version (July 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 ...
Transforming data collection – Data Standards Review with recommendations and Bank ...
ID 24500
The BoE and FCA have jointly started working on a standardisation of data so that end-users can receice the best quality data at the lowest price (please see EventID#22071). Following phase one, the Committee has appointed EY as an independent third-party for a review. The Committee then created a list of recommendations for BoE and FCA. The article lists out BoE’s and FCA’s responses ...
CP16/23 – Updating UK Technical Standards on the identification of global ...
ID 24427
On July 28, 2023, the Bank of England (BoE) released a consultation paper CP16/23 titled „Updating UK Technical Standards on the Identification of Global Systemically Important Institutions (G-SIIs).“ This paper outlines proposed changes by the Prudential Regulation Authority (PRA) to the UK’s methodology for identifying and establishing a capital buffer for Global Systemically Important Institutions (G-SIIs). These proposed updates aim to align the UK’ ...
CP15/23 – Securitisation: General requirements
ID 24419
The Prudential Regulation Authority (PRA) has launched a consultation (CP15/23) concerning intended regulations in relation to securitizations. Specifically, the PRA seeks to replace all firm-facing requirements currently stipulated in retained EU legislation (REUL) under the UK (retained) Securitisation Regulation. The consultation follows the enactment of the Financial Services and Markets Act 2023, the subsequent empowerment of the PRA to draw up such rules, and ...
PS11/23 – Credit Unions: Changes to the regulatory regime
ID 24395
The Prudential Regulation Authority, PRA, has published a new policy statement (PS11/23) in connection with credit unions following a corresponding consultation in September 2023. In this policy statement, the PRA briefly describes the responses it received to its consultation and the final rules and the new supervisory statement as they will apply from August 29, 2023. #### Background On September 21, 2022, the PRA ...
Letter from Christopher Jackson and Robert Zammit on firms’ preparations for the ...
ID 24362
In view of the upcoming second assessment of banks‘ and building societies‘ „preparations for resolution under the Resolvability Assessment Framework (RAF)“, Christopher Jackson and Robert Zammit, heads of the International Resolvability Division and the Domestic Resolvability Division, respectively, have jointly published an open letter addressed at Chief Financial Officers (CFOs) of supervised institutions. This letter aims to reiterate the Bank of E ...
Statistical Notice 2023/05
ID 24347
The Prudential Regulation Authority (PRA) has published a new statistical notice to inform of an upcoming change to the Bank of England’s statistical reporting websites. The changes being made are part of the joint transformation program of the BoE and the Financial Conduct Authority (FCA) to improve data collection from the UK financial sector. The aim is to reduce the burden on firms and ...