BCBS rules on NPL securitisations: PRA CP10/21 extended closing date The Prudential Regulation Authority (PRA) has announced that it has extended the closing date, from 26 July 2021 to 9 August 2021, for responses to its June...more
PSD2: EBA consults on guidelines on limited network exclusion The European Banking Authority (EBA) is consulting on guidelines on the limited network exclusion (LNE) under the revised Payment Services Directive (PSD2)....more
UK CRR: Draft Capital Requirements Regulation (Amendment) Regulations 2021 A draft version of the Capital Requirements Regulation (Amendment) Regulations 2021 has been published, together with a draft explanatory memorandum....more
7/19/2021
/ Bank Recovery and Resolution Directive (BRRD) ,
Banking Sector ,
Basel III ,
Capital Requirements Regulation (CRR) ,
EU ,
European Banking Authority (EBA) ,
Financial Institutions ,
Financial Services Industry ,
HM Treasury ,
Libor ,
Prudential Regulation Authority (PRA) ,
UK
Future framework for regulation of UK financial services: Treasury Committee report - The House of Commons Treasury Committee has published its Fifth Report of Session 2021-22 on the future framework for regulating financial...more
7/13/2021
/ Bank of England ,
EU ,
European Banking Authority (EBA) ,
European Commission ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Financial Stability Board ,
General Data Protection Regulation (GDPR) ,
Libor ,
Prudential Regulation Authority (PRA) ,
UK
UK and Singapore Financial Partnership on financial services HM Treasury has announced that it has agreed a new "Financial Partnership" between the UK and Singapore which will support increased financial services between the...more
7/6/2021
/ Artificial Intelligence ,
Consultation Papers ,
ESRB ,
European Banking Authority (EBA) ,
European Central Bank ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
HM Treasury ,
Memorandum of Understanding ,
Monetary Authority of Singapore ,
Popular ,
Singapore
UK Securitisation Regulation: HM Treasury review HM Treasury has published a call for evidence to inform its review of the retained EU law version of the EU Securitisation Regulation (UK Securitisation Regulation or "Sec...more
7/6/2021
/ Banking Sector ,
Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
European Banking Authority (EBA) ,
European Central Bank ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
HM Treasury
COVID-19: FCA statement on regulatory treatment of Recovery Loan Scheme -
The FCA has published a statement on the regulatory treatment of the UK Recovery Loan Scheme (RLS), which was launched on 6 April 2021 as part of the...more
6/1/2021
/ Bank Recovery and Resolution Directive (BRRD) ,
Capital Requirements Regulation (CRR) ,
Consumer Financial Products ,
Coronavirus/COVID-19 ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Infectious Diseases ,
IOSCO ,
Loans ,
MREL ,
Regulatory Agenda ,
UK
Climate change: BoE speech on course to net zero - The Bank of England (BoE) has published a speech by Sarah Breeden, Executive Director, UK Deposit Takers Supervision in which she talks about how financial services firms in...more
2022/23 supervisory benchmarking exercise for capital internal models: PRA statement - The UK Prudential Regulation Authority (PRA) has published a statement on its expectations concerning the 2022 and 2023 supervisory...more
BoE stress testing: 2021 Climate Biennial Exploratory Scenario update -
Reports on key recent regulatory developments focussing on banking and finance. See also our Financial institutions general regulatory news and other...more
5/4/2021
/ Bank of England ,
Bank Recovery and Resolution Directive (BRRD) ,
Capital Requirements Regulation (CRR) ,
European Banking Authority (EBA) ,
Financial Regulatory Reform ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Remuneration ,
RTS ,
Stress Tests ,
UK
COVID-19: BoE statement on regulatory treatment of Recovery Loan Scheme -
The Bank of England (BoE) has published a statement on the regulatory treatment of the UK Recovery Loan Scheme (RLS), which has been launched as part...more
4/19/2021
/ Bank of England ,
Banks ,
Basel Committee on Banking Supervision (BCBS) ,
Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
European Banking Authority (EBA) ,
Financial Regulatory Reform ,
Infectious Diseases ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
RTS ,
UK
Depositor protection identity verification: PRA PS4/21 -
Following its consultation in CP3/21, the UK Prudential Regulation Authority (PRA) has published a policy statement, PS4/21, on depositor protection identity...more
3/29/2021
/ Bank Recovery and Resolution Directive (BRRD) ,
EU ,
European Banking Authority (EBA) ,
European Central Bank ,
Financial Instruments ,
Financial Services Industry ,
Inter-Bank Offered Rates (IBORs) ,
Libor ,
MREL ,
Payment Services Directive ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Stress Tests ,
UK ,
UK Brexit
Open banking: CMA consultation on future governance -
The Competition and Markets Authority (CMA) is consulting on the future governance of open banking. In order to implement open banking, the CMA required the nine largest...more
UK ring-fencing and proprietary trading independent reviews: Terms of Reference - HM Treasury has published the Terms of Reference for the upcoming statutory reviews of the ring-fencing regime legislation and banks'...more
2/9/2021
/ Coronavirus/COVID-19 ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Infectious Diseases ,
Libor ,
Liquidity ,
Proprietary Trading ,
Regulatory Agenda ,
Stress Tests ,
UK
Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 -
The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (SI 2020/1350) have been published, together with an explanatory memorandum....more
12/7/2020
/ Bank Recovery and Resolution Directive (BRRD) ,
Basel Committee on Banking Supervision (BCBS) ,
Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
CRD V ,
European Banking Authority (EBA) ,
European Central Bank ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Holding Companies ,
Infectious Diseases ,
Moratorium ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Sharia Law ,
UK ,
UK Brexit
Submission of statistical data: BoE Green Notice 2020/02 -
The Bank of England (BoE) has published a Green Notice 2020/02 announcing future changes to the submission of statistical data to its Data and Statistics Division...more
CRD V and BRRD II-derived UK legislation: PRA statement on application of temporary transitional power -
The UK Prudential Regulation Authority (PRA) has published a statement on the application of its temporary...more
PSD2: EBA proposes changes to Guidelines on major incident reporting after latest review -
Following the European Banking Authority's (EBA's) latest required review of its July 2017 Guidelines on major incident reporting...more
Approach to assessing resolvability: BoE consultation -
The Bank of England (BoE) and the Prudential Regulation Authority (PRA) are consulting in parallel on a package of proposals relating to their policies for...more
11/10/2020
/ Bank of England ,
Bank Recovery and Resolution Directive (BRRD) ,
Basel Committee on Banking Supervision (BCBS) ,
Basel III ,
CRD IV Directive ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Libor ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Small and Medium-Sized Enterprises (SMEs)
Implementation of CRD V: PRA CP17/20 -
The UK Prudential Regulation Authority (PRA) has published a consultation paper, CP17/20, setting out proposed changes to its rules, supervisory statements (SS) and statements of...more
10/26/2020
/ Capital Requirements Regulation (CRR) ,
CRD V ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Regulatory Reform ,
Financial Services Industry ,
Money Laundering ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
UK
COVID-19: PRA letter to credit unions and direction modifying minimum provisioning requirements -
On 7 October 2020, the UK Prudential Regulation Authority (PRA) published a letter to directors of credit unions on...more
10/13/2020
/ Banks ,
Capital Requirements ,
Coronavirus/COVID-19 ,
CRD IV Directive ,
Credit Unions ,
EU ,
European Banking Authority (EBA) ,
Infectious Diseases ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Requirements ,
Systemic Risk Buffer ,
UK
IRB UK mortgage risk weights: PRA CP14/20 -
The UK Prudential Regulation Authority (PRA) has published a consultation paper, CP14/20, on proposals to introduce new expectations on internal ratings based (IRB) approach UK...more
10/6/2020
/ AML/CFT ,
Bank Recovery and Resolution Directive (BRRD) ,
Capital Requirements Regulation (CRR) ,
EU ,
European Banking Authority (EBA) ,
Financial Instruments ,
IRB ,
Mortgages ,
Prudential Regulation Authority (PRA) ,
Risk Assessment ,
UK
Proprietary trading review: PRA report -
The UK Prudential Regulation Authority (PRA) has published a report on the outcome of its proprietary trading review. The review was required under section 9 of the Financial...more
9/29/2020
/ Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
CRD IV Directive ,
EU ,
European Banking Authority (EBA) ,
European Central Bank ,
Financial Regulatory Reform ,
Financial Services Industry ,
Infectious Diseases ,
Proprietary Trading ,
Prudential Regulation Authority (PRA) ,
UK
PRA PS20/20: response to CP3/20 occasional paper -
Following its March 2020 occasional consultation paper (CP3/20), the UK Prudential Regulation Authority (PRA) has published a policy statement, PS20/20, setting out its...more
9/15/2020
/ AML/CFT ,
Coronavirus/COVID-19 ,
EU ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
FinCEN ,
Infectious Diseases ,
Policy Statement ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Securities Financing Transactions (SFTs) ,
UK
COVID-19: PRA statement on application of IFRS 9 and capital requirements as mortgage payment deferrals come to an end -
On 26 August 2020, the UK Prudential Regulation Authority (PRA) published a statement to clarify its...more
9/8/2020
/ Bank Recovery and Resolution Directive (BRRD) ,
Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
European Banking Authority (EBA) ,
Financial Regulatory Reform ,
IFRS ,
Infectious Diseases ,
Libor ,
Prudential Regulation Authority (PRA) ,
RTS ,
Sterling Overnight Index Average (SONIA) ,
UK