COVID-19: PRA Dear CEO letter on treatment of payment deferrals under IFRS 9 and CRR -
On 4 June 2020, the UK Prudential Regulation Authority (PRA) published a Dear CEO letter on International Financial Reporting Standard...more
6/9/2020
/ Basel Committee on Banking Supervision (BCBS) ,
Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
CRD IV Directive ,
EU ,
European Banking Authority (EBA) ,
Financial Markets ,
IFRS ,
Prudential Regulation Authority (PRA) ,
RTS ,
Single Resolution Board ,
Supervisory Highlights ,
UK
COVID-19: PRA letter to credit unions and direction modifying minimum provisioning requirements -
On 8 April 2020, the Prudential Regulation Authority (PRA) published a letter to directors, staff members and volunteers of...more
4/9/2020
/ Banks ,
Basel Committee on Banking Supervision (BCBS) ,
Basel III ,
Coronavirus/COVID-19 ,
EU ,
European Banking Authority (EBA) ,
Financial Institutions ,
Financial Services Industry ,
Liquidity ,
Prudential Regulation Authority (PRA) ,
UK
FCA 2020/21 business plan -
The Financial Conduct Authority (FCA) has published its 2020/21 business plan setting out its business priorities for the year ahead. The FCA's immediate focus is to address the challenges...more
COVID-19: FCA FS20/3 confirms temporary financial relief for consumer credit customers -
The Financial Conduct Authority (FCA) has published its final rules and guidance, FS20/3, confirming a package of targeted temporary...more
COVID-19: FCA expectations for funds -
On 9 April 2020, the Financial Conduct Authority (FCA) published a webpage setting out its expectations regarding funds in light of COVID-19. The FCA acknowledges the significant...more
Funding no-blame APP scams: PSR considers options -
The Payment Systems Regulator (PSR) has published slides and speaker notes of Chris Hemsley, PSR Managing Director, for a call on authorised push payment (APP) scams,...more
COVID-19: PRA statement on decision by insurance companies to pause dividends -
On 8 April 2020, the Prudential Regulation Authority (PRA) published a statement welcoming the prudent decision of some insurance firms to...more
In its 2020/21 Business Plan, the FCA states its aim to move towards a regulatory approach that's increasingly focused on end outcomes for consumers, markets and firms. The Business Plan reflects this approach, honing in on...more
4/8/2020
/ Banks ,
Big Data ,
Business Plans ,
Climate Change ,
Consumer Credit Protection ,
Coronavirus/COVID-19 ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
Payment Systems ,
Small and Medium-Sized Enterprises (SMEs)
COVID-19: FCA update on strong customer authentication under PSRs 2017 -
On 31 March 2020, the FCA updated its webpage on strong customer authentication (SCA) under the Payment Services Regulations 2017. ...more
COVID-19: FCA consumer credit temporary relief measures -
On 2 April 2020, the UK Financial Conduct Authority (FCA) launched consultations on a range of targeted temporary relief proposals to help credit card, store card,...more
COVID-19: EBA statement on actions to mitigate financial crime risks -
On 31 March 2020, the European Banking Authority (EBA) published a statement on actions to mitigate financial crime risks in light of COVID-19....more
COVID-19: PRA and FCA statement on SMCR expectations of dual-regulated firms -
On 3 April 2020, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) published a joint statement on their...more
Recent regulatory developments of interest to financial institutions.
COVID-19: EBA and PRA approach to regulatory reporting and Pillar 3 disclosures -
On 2 April 2020, the PRA published a statement on amendments made to...more
COVID-19: PRA Dear CEO letter to UK insurers about distribution of profits -
On 31 March 2020, the Prudential Regulation Authority (PRA) published a Dear CEO letter from Sam Woods, Bank of England (BoE) Deputy Governor...more
COVID-19: PRA statement on regulatory reporting amendments -
On 23 March 2020, the Prudential Regulation Authority (PRA) published a statement on COVID-19 regulatory reporting amendments for UK insurers. The PRA outlines...more
On 25 March 2020, the UK Financial Conduct Authority (FCA) updated its webpage, Mortgages and coronavirus: our guidance for firms. The webpage sets out guidance for mortgage lenders and administrators, and home purchase...more
A draft version of the Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment etc and Transitional Provision) (EU Exit) Regulations 2020 has been published, together with an explanatory...more
4/2/2020
/ Coronavirus/COVID-19 ,
Derivatives ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
IFRS ,
Investment ,
MiFIR ,
SFTR ,
Trade Repositories ,
UK
COVID-19 and bank lending: letter from HM Treasury, BoE and FCA -
On 25 March 2020, HM Treasury published a joint letter, from the Chancellor, the Governor of the Bank of England (BoE) and the Chief Executive Officer (CEO)...more
COVID-19: UK Finance increases spending limit for contactless card payments -
On 24 March 2020, UK Finance has announced that, from 1 April 2020, it is increasing the spending limit for contactless card payments from £30...more
COVID-19: PRA Dear CEO letter on IFRS 9, capital requirements and loan covenants -
On 26 March 2020, the Prudential Regulation Authority (PRA) published a Dear CEO letter giving guidance on consistent and robust...more
COVID-19: FCA expectations for general insurance firms -
The FCA has published a webpage setting out its expectations of general insurance firms in the light of COVID-19. The FCA expects firms to consider very carefully the...more
COVID-19: FCA Primary Market Bulletin No 27 -
The FCA has published its latest Primary Market Bulletin, focused on COVID-19. Matters covered include:
Ongoing disclosure under the Market Abuse Regulation (MAR) -
The FCA...more
COVID-19: BoE and PRA measures -
The Bank of England (BoE) and Prudential Regulation Authority (PRA) have announced a number of measures aimed at alleviating operational burdens on PRA-regulated firms and BoE-regulated...more
Card-acquiring market review: PSR update on timings -
The Payment Systems Regulatory (PSR) has published an update on when it intends to publish its interim report on the card-acquiring market review.
The PSR is planning to...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
3/17/2020
/ Bank Fraud ,
Bank Recovery and Resolution Directive (BRRD) ,
Basel III ,
Coronavirus/COVID-19 ,
CRD IV Directive ,
CSDR ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
Risk Management ,
Securities Financing Transactions (SFTs)