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24 May 2024, 4:11 am by Simon Lovegrove (UK)
Article 62 is amended to extend the duration during which the use of uncollateralised or partially collateralised bank guarantees is temporarily allowed. [read post]
22 May 2024, 6:23 am by Disability Lawyers Dell & Schaefer
Generally, accountants spend hours pouring over spreadsheets, financial records, bank documents, and other information needed for making calculations and preparing tax returns or audits. [read post]
21 May 2024, 9:06 am by Sebastien Praicheux
A while ago, the French Prudential Supervision and Resolution Authority (ACPR) issued an important discussion document on the governance of AI in finance. [read post]
While the rules and guidance focus on banks, the materials are relevant to insurers and superannuation providers as they prepare for the commencement of the FAR in March 2025. [read post]
15 May 2024, 9:05 pm by ilyabeylin
Derivatives are financial instruments used to shift risks, such as fluctuations in interest rates or foreign exchange rates or changes in the value of assets such as stocks, bonds, metals, or agricultural or energy products. [read post]
13 May 2024, 12:06 pm by Simon Lovegrove (UK)
On 13 May 2024, the European Banking Authority (EBA) published a Consultation Paper on draft regulatory technical standards (RTS) on equivalent mechanisms for unfinished property under Article 124(12) of the Capital Requirements Regulation (CRR). [read post]
10 May 2024, 2:54 am by Simon Lovegrove (UK)
It plans to publish its feedback and final rules in a policy statement in July 2024. 17 May 2024 – On 17 May 2023, the Prudential Regulation Authority (PRA) published Policy Statement PS6/23, ‘Model risk management principles for banks’, which contains a new supervisory statement (SS1/23) on the topic, as well as the PRA’s feedback to responses to its earlier consultation CP6/22. [read post]
It also warns that the Prudential Regulation Authority’s (PRA’s) introduction of the Basel 3.1 standards risks tightening conditions for SMEs even further. [read post]
7 May 2024, 9:27 am by Simon Lovegrove (UK)
They lay down the information requirements that are necessary for a competent authority to carry out the prudential assessment of proposed acquisitions in issuers of ARTs that are not credit institutions. [read post]
Among other things, the new rules concerning prudential requirements for banks and very large investment firms will introduce an output floor to ensure that entities using internal models to calculate their risk weights do not have significantly lower capital buffers than entities using standardised approaches. [read post]
The consultation is relevant to: PRA-authorised banks, building societies and PRA-designated investment firms in scope of the margin requirements under UK EMIR. [read post]
The consultation is relevant to: PRA-authorised banks, building societies and PRA-designated investment firms in scope of the margin requirements under UK EMIR. [read post]
26 Apr 2024, 7:37 am by Simon Lovegrove (UK)
UK 30 April 2024 – On 8 February 2024, the Bank of England published two discussion papers on its Real Time Gross Settlement service operating hours and access policies. [read post]
The CRR has been amended by the CRR II (Regulation 2019/876) and the Capital Requirements Directive (CRD) V introduced certain new prudential requirements into the CRD IV. [read post]
On 22 April 2024, the Prudential Regulation Authority (PRA) and the Bank of England (BoE) published a joint letter to the Secretary of State for Science, Innovation and Technology, Michelle Donelan, and the Economic Secretary to the Treasury, Bim Afolami. [read post]
Mr Rathi also highlighted the FCA’s continued joint work with the Bank of England (BoE) and the Prudential Regulation Authority on the role of critical third parties and AI. [read post]
23 Apr 2024, 1:30 am by Anita Edwards and Simon Lovegrove (UK)
As such, the SI, which is made under section 138BA of FSMA, grants the Prudential Regulation Authority (PRA) the ability to disapply or modify the application of any of its rules made under FSMA, where appropriate, to take into account the circumstances and business models of individual firms. [read post]
Mr Rathi also highlighted the FCA’s continued joint work with the Bank of England (BoE) and the Prudential Regulation Authority on the role of critical third parties and AI. [read post]
19 Apr 2024, 2:12 am by Anita Edwards and Simon Lovegrove (UK)
On 18 April 2024, the Financial Conduct Authority (FCA) and the Bank of England (BoE) (exercising its prudential regulation functions) published an updated Memorandum of Understanding (MoU). [read post]
15 Apr 2024, 9:01 pm by renholding
While Custodia is subject to state prudential regulation, it is not FDIC-insured or subject to federal prudential regulation and does not have a holding company subject to Federal Reserve oversight. [read post]