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23 Oct 2019, 10:13 am by Anna Carrier (BE) and Daniel Nevzat (UK)
On 18 October 2019, the Council of the EU (Council) published two notes from the General Secretariat of the Council to the Permanent Representatives Committee (COREPER): an information note on the proposed Regulation on the prudential requirements of investment firms and amending the Capital Requirements Regulation, the Markets in Financial Instruments Regulation and the European Banking Authority Regulation (altogether, the Investment Firms Regulation); and an information note on… [read post]
Separately, the Prudential Regulation Authority (PRA) had published Supervisory Statement 3/19 in April 2019, setting out its expectations on managing the financial risks from climate change for insurers, banks, building societies and PRA-designated investment firms. [read post]
17 Oct 2019, 8:42 am by Jochen Vester (UK)
On 16 October 2019, the European Banking Authority (EBA) launched a consultation on new implementing technical standards (ITS) on supervisory reporting requirements for financial institutions governed by the Capital Requirements Regulation (CRR). [read post]
17 Oct 2019, 7:17 am by Scott A. Coleman
  The Board also adopted a final rule that establishes risk-based categories for determining prudential standards for large U.S. banking organizations and foreign banking organizations, consistent with section 165 of the Dodd-Frank Act, as amended by the Economic Growth, Regulatory Relief, and Consumer Protection Act, and with the Home Owners’ Loan Act. [read post]
15 Oct 2019, 9:18 am by Simon Lovegrove (UK)
Stablecoin projects of potentially global reach and magnitude must meet the highest regulatory standards and be subject to prudential supervision and oversight. [read post]
15 Oct 2019, 9:12 am by Daniel Nevzat (UK)
In this context, the Commission asks what – if any – further measures could be taken to incorporate ESG risks into prudential regulation, without pre-empting the ongoing work stemming from earlier mandates. [read post]
On 11 October 2019, the European Commission launched a public consultation on the implementation in the European Union of the December 2017 Basel Committee on Banking Supervision (BCBS) standard (Basel III: Finalising post-crisis reforms). [read post]
On 9 October 2019, the Bank of England published the financial policy summary and record (FPSR) of the Financial Policy Committee (FPC) meeting on 2 October 2019. [read post]
2 Oct 2019, 7:01 am by Jochen Vester (UK)
This follows the recommendations outlined in HM Treasury’s independent review of the prudential supervision of the Co-operative Bank published earlier in March 2019, which encouraged the Bank of England and the PRA to consider whether there should be constraints on the extent to which deposit-taking institutions can encumber their assets in normal circumstances and how best to factor encumbrances into the recovery and resolution plans for these institutions. [read post]
26 Sep 2019, 8:04 am by Joe Bamford (UK)
The FCA’s policy approach has not changed; revoking certain directions in relation to payment services, provided by EEA credit institutions in the financial services contracts regime, as these are no longer needed because of legislative amendments made by the Government; and applying a standstill direction to allow EEA Central Banks and the European Central Bank to continue to rely upon their status as exempt persons until 31 December 2020. [read post]
20 Sep 2019, 7:32 am by Simon Lovegrove (UK)
On 19 September 2019, the Bank of England (BoE) published an updated memorandum of understanding (MoU) between itself (exercising its prudential regulation functions) and the Financial Services Compensation Scheme (FSCS). [read post]
17 Sep 2019, 7:26 am by Catherine LaGrange
Noting that CRA regulations have historically been uniform across the three prudential regulators, the agencies request that the same be true for the forthcoming regulations. [read post]
The EBA will also clarify the interaction with the new grandfathering provisions introduced by the recent Banking Package and the corresponding amendments to the CRR and the Bank Recovery and Resolution Directive where relevant for own funds instruments and eligible liabilities. [read post]
6 Sep 2019, 7:45 am by Simon Lovegrove (UK)
In particular, the PRA draws attention to the recently published European Banking Authority (EBA) opinion on this topic (see our previous blog post here). [read post]
5 Sep 2019, 11:18 am by Alan S. Kaplinsky
”  In addition, the court found that the dispute was still not constitutionally or prudentially ripe for determination. [read post]
APRA and the Treasury have also provided an update on the implementation of recommendations made from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. [read post]
23 Aug 2019, 4:43 am by Simon Lovegrove (UK)
After summarising related ECB policies and measures in general, the communication: clarifies aspects relating to the European Banking Authority’s publication of NPE-related guidelines; provides further details regarding the ECB’s supervisory expectations for provisioning of NPE stock; clarifies the interaction between the ECB’s NPE coverage expectations under Pillar 2 and the Pillar 1 prudential NPE rules; and summaries adjustments to the Pillar 2 approach in… [read post]
22 Aug 2019, 6:47 am by Simon Lovegrove (UK)
The letter outlines some of the European Supervisory Authorities’ work streams on crypto-assets including: engagement with international regulatory authorities on matters such as the prudential treatment of banks’ exposures to crypto-assets and the regulatory treatment of crypto-asset exchanges and trading platforms; the European Supervisory Authorities will launch shortly a new stocktaking exercise of Member State national regimes applicable to crypto-assets. [read post]
15 Aug 2019, 7:53 am by Simon Lovegrove (UK)
The ECB also expects banks to be prepared for differences in the application of the prudential provisions in the Capital Requirements Regulation and Capital Requirements Directive IV once the UK becomes a third country. [read post]