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26 Sep 2023, 6:39 am by Maria Ross (UK) and Clare Douglas
Solvency II: Upcoming PRA consultation on amendments to the matching adjustment Last week, Gareth Truran of the Bank of England gave a speech on behalf of the Prudential Regulation Authority (PRA) outlining recent updates in respect of the reforms to Solvency II (so-called “Solvency UK”). [read post]
On 25 September 2023, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) published consultations setting out their proposals to introduce a new regulatory framework on diversity and inclusion (D&I) in the financial sector. [read post]
19 Sep 2023, 8:14 am by Simon Lovegrove (UK) and Anita Edwards
On 19 September 2023, the Bank of England (BoE) published a speech by Victoria Saporta, Executive Director of Prudential Policy, which was delivered at the conference on the role of financial regulation in international competitiveness and economic growth held at the BoE. [read post]
12 Sep 2023, 10:30 pm by Gregor Laudage
One must distinguish between two financial instruments central banks use to implement their liquidity lines to other central banks. [read post]
Artificial intelligence – As set out in DP5/22, a discussion paper issued jointly by the FCA, Prudential Regulation Authority and Bank of England, artificial intelligence and machine learning are rapidly developing technologies that have the potential to transform financial services. [read post]
On 7 September 2023, the Bank of England (BoE) published a speech given by Arif Merali, senior advisor for the BoE, at a Libor transition panel discussion in London. [read post]
In terms of how can banks may properly address and mitigate climate-related litigation risk and how prudential supervisors may guide them Mr Elderson states that banks should start putting in place their Paris-aligned transition plans – realistic, transparent, and credible transition plans that banks can and actually do implement in a timely manner. [read post]
29 Aug 2023, 7:37 am by Unknown
”To explain her point, Romero cited banking regulators’ draft Principles for Climate-Related Financial Risk Management (Prudential Principles), which were published in the Federal Register last year. [read post]
29 Aug 2023, 3:00 am by Sherica Celine
Dodd-Frank Enhanced Prudential Standards Roadmap Review the Dodd-Frank Act enhanced prudential standards for bank holding companies, foreign banks that operate a branch, agency, or commercial lending subsidiary in the United States, and U.S. or foreign nonbank financial companies that are designated as systemically important by the Financial Stability Oversight Council. [read post]
24 Aug 2023, 9:58 am by Anita Edwards
Regulation 4 makes transitional provision for Prudential Regulation Authority (PRA) rules, technical standards and policies for implementing reforms to the so-called Basel international prudential standards for banks and other financial institutions and addressing related matters. [read post]
22 Aug 2023, 9:00 pm by Sherica Celine
That is when private credit funds formed to fill the gap created by the shrinkage in traditional bank lending. [read post]
Meanwhile APRA has revamped its prudential regulation, finalising the long awaited operating risk prudential standard CPS 230, publishing investment governance guidance and committing to an industry wide assessment of the cyber capability of the financial services regime. [read post]
These powers are part of the amendments to the Banking Act 2009 (the Act) made by the Financial Services and Markets Act 2023. [read post]
On 10 August 2023, the European Banking Authority (EBA) published a report on the functioning of anti-money laundering and countering the financing of terrorism (AML/CFT) colleges in 2022. [read post]
9 Aug 2023, 9:01 pm by renholding
Although the stated intent of the G-SIB Proposal is to improve the “precision of the G-SIB surcharge,” the changes to the calculation of the cross-jurisdictional activity indicator to include derivatives exposures would cause nine banking organizations or their intermediate holding companies to shift into Category II from Categories III and IV for purposes of the enhanced prudential standards. [read post]
On 4 August 2023, the European Banking Authority published a follow-up report setting out the feedback it received to its earlier discussion paper on machine learning used in the context of internal ratings-based (IRB) models. [read post]
On 29 June 2023, the Prudential Regulation Authority (PRA) published consultation paper (CP12/23). [read post]
28 Jul 2023, 8:11 am by Anita Edwards
The Basel Committee for Banking Supervision (BCBS) implemented changes in 2022 to its framework for assessing the systemic importance global systemically important banks. [read post]
27 Jul 2023, 2:11 pm by Anita Edwards
On 27 July 2023, the FCA, Bank of England (BoE) and Prudential Regulation Authority (PRA) published a joint Policy Statement, PS23/12, PS10/23: Complaints against the Regulators. [read post]