Tag: PRA
Clawback declawed?
As reported everywhere with banker-bashing glee, the PRA yesterday published its final rule on clawback. The final formulation reflects feedback received in response to the Clawback Consultation Paper (CP6/14); contrary to most cursory readings, either celebrating or bemoaning the draconian aspects of the rule; the final formulation represents a climb-down from the original proposal. While […]
EBA’s guess is 200 O-SIIs
On 18 July 2014, the EBA published a Consultation Paper on the Guidelines to assess other systemically important institutions (O-SIIs). O-SIIs represent the EU implementation of the BCBS’ domestic systemically important banks (D-SIBs). Contrary to G-SIBs, the D-SIBs classification allows for considerable discretion by national authorities. Accordingly, a basket of optional indicators is available in […]
Ringfence Vaulting to become new sport?
As the electrified ringfence-erecting Banking Reform Bill is poised to enter the statute books, the FT reports HSBC is thinking of hiving off its UK operations in response. The global bank has proposed carving out its UK operation, and floating this retail-focussed, reconfigured bank on the London exchange. The article points out that such an […]
Swap Clearing: an Inconvenient Truth
This week’s International Financing Review reports that BNY Mellon is closing its swaps clearing service, a mere three years after its inception. “We are exiting the derivatives clearing business in the US due to market and regulatory factors that will limit our ability to grow the business in the future,” said a spokesperson for the […]
PCBS? …Yes
The BoE and FCA have published their responses to the final PCBS report. They are united in welcoming the report and in emphasising how many of its recommendations they have already implemented. A brief summary of the report and responses follows; People: BoE pledge the support of the PRA in assigning key risks to Senior […]
Basel III phase-in begins to bite
30th July 2013. The PRA updated its statements on bank and capital leverage ratios to include Barclays. A brief summary of 2013 statements to date: Lloyds/RBS– the PRA has mandated the capital requirements- the two banks’ compliance plans will be announced once discussion with all 8 major banks are concluded. Co-operative Bank– needs to generate […]
FSA Updates RRP Guidance
The FSA has published an update to its Recovery and Resolution Planning (RRP) guidance dated 20 February 2013. It expects to publish formal RRP rules “soon” after the FSA hands responsibility over to the Prudential Regulation Authority on 1 April 2013. An updated RRP information pack for firms can be expected soon thereafter with subsequent […]