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The European Banking Authority has published its final draft Implementing Technical Standards amending the Implementing Regulation on the benchmarking of credit risk, market risk, and IFRS9 models for the 2025 exercise....more
The European Banking Authority has published an updated report on the monitoring of Additional Tier 1, Tier 2 and total loss absorbing capacity as well as the minimum requirement for own funds and eligible liabilities...more
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
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
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
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
31 December - The Brexit Transitional Period (pursuant to which the UK stayed in the Single Market and European Customs Union came to an end. The FCA updated its Brexit webpages to remind firms of the potential impact...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
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
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
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
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
Business continuity: SRB operational guidance on operational continuity in resolution and FMI contingency plans. The UK Prudential Regulation Authority (PRA) has published a policy statement, PS18/20, and the following...more
Reporting requirements: EBA questionnaire and call for case studies on cost of compliance - HM Treasury has published a statement on the applicability of COVID-19 related amendments to the Capital Requirements Regulation...more
Recent regulatory developments of interest to financial institutions. CRR: PRA PS5/20 on pre-issuance notification requirements - Following its earlier consultation paper, CP20/19, the Prudential Regulation Authority...more
From 1 January 2016, all EEA incorporated banks and credit institutions are required to include a term in any non-EEA law governed contract under which they have liabilities, giving contractual recognition of the bail-in...more
Legal & Regulatory - BRRD: FCA publishes modification by consent for Article 55 rules - Article 55 of the EU Bank Recovery and Resolution Directive 2014/59 (BRRD) requires European Economic Area (EEA) firms and...more