HM Treasury has published a policy update to confirm its legislative approach for applying the "FSMA model" to the assimilated EU capital requirements regime under the U.K. Capital Requirements Regulation and Capital Buffers...more
The Prudential Regulation Authority has published a policy statement on the leverage ratio treatment of omnibus account reserves and minor amendments to the leverage ratio framework. PRA rules require firms to exclude from...more
The EU has published the final legislation implementing revisions to the EU Capital Requirements Regulation and Capital Requirements Directive (commonly referred to as the EU banking package) in the Official Journal of the...more
Commission Implementing Regulation 2024/1618 amending Implementing Regulation (EU) 2021/763, laying down implementing technical standards on supervisory reporting and public disclosure of MREL and TLAC, has been published in...more
UK regulators have recently announced a number of reforms for banks and other financial institutions. - On 23 November 2023, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) (together,...more
On 14 March 2023, the PRA launched a consultation on the Deductions for Non-Performing Exposures (Revocations) (CRR) Instrument 2023 to remove the current Common Equity Tier 1 (“CET1”) deduction requirement for NPEs that are...more
The Basel Committee on Banking Supervision (“BCBS”) published a report jointly with the World Bank setting out the findings from a global survey on proportionality in banking regulation and supervision....more
Resolution assessments: PRA PS10/21 on amendments to reporting and disclosure dates - Following its consultation in CP19/20, the UK Prudential Regulation Authority (PRA) has published a policy statement, PS10/21, on...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
Recent regulatory developments of interest to most financial institutions, including updates from the UK government, PRA, FCA, JMLG and the European Commission. See also our sector specific updates in the Related Materials...more
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
28 June 2021 is the deadline for UK Financial Holding Companies ("FHC") and Mixed Financial Holding Companies ("MFHC") to submit their application for approval or exemption under the UK's implementation of the Capital...more
Resolvability Assessment Framework: BoE Dear CEO letter The Bank of England (BoE) has published a letter sent by Dave Ramsden, BoE Deputy Governor for Markets and Banking, to the CEOs of the eight UK banks in the scope of the...more
BoE banking solvency stress test 2021 scenario - The Bank of England (BoE) has updated its stress testing webpage and published the solvency stress test 2021 scenario for banks and building societies that are not part of...more
Capital buffers: PRA modification by consent - The UK Prudential Regulation Authority (PRA) has published a direction for modification by consent of 5.1 - 5.3 and 5.5 of the Capital Buffers Part of the PRA Rulebook....more
UK SRR code of practice - HM Treasury has published a revised version of the Banking Act 2009 special resolution regime (SRR) code of practice which applies to the use of the SRR after the end of Brexit transition period....more
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
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
CRD V: Draft Financial Holding Companies (Approval etc) and Capital Requirements (Capital Buffers and Macro-prudential Measures) (Amendment) (EU Exit) Regulations 2020 - HM Treasury has published a draft version of the...more
COVID-19: PRA suspends guidance levels on fixed rate lending limits for non-systemic building societies - On 11 August 2020, the UK Prudential Regulation Authority (PRA) published a letter (dated 31 July 2020) sent from...more
COVID-19: PRA PS19/20 on FSCS temporary high balances coverage extension - On 4 August 2020, the UK Prudential Regulation Authority (PRA) published a policy statement, PS19/20, on the Financial Services Compensation Scheme...more