Rebecca Jackson, Executive Director, Authorisations, Regulatory Technology, and International Supervision at the Prudential Regulation Authority ("PRA") has written to international banks on the PRA’s thematic supervision...more
Against a background of increasing reliance on models and scenario analysis to assess future risks, the UK’s bank regulator, the Prudential Regulation Authority (“PRA”), has published a supervisory statement on “Model risk...more
This past June 2022, the Prudential Regulation Authority (PRA) released its Supervisory Statement (SS) on their expectations for banks’ model risk management. Just like the US supervisory guidance SR11-7, the PRA’s CP6/22...more
The PRA’s supervisory statement on outsourcing arrangements and managing third party risk requires insurers to take action now, to ensure that outsourcing agreements which are currently being negotiated comply with the new...more
Credit unions: PRA 2020 annual assessment of category 5 credit unions - The UK Prudential Regulation Authority (PRA) has updated its webpage on credit unions to publish letters sent to directors of category 5 credit...more
The U.K. Prudential Regulation Authority has issued a consultation on proposed additions to its Supervisory Statement on counterparty credit risk. The additions are intended to provide clarity to the market on how firms...more
The PRA published an update on its approach to insurance supervision on 31 October 2018. In the update, it introduced a new section on operational resilience. ...more