Top news and publications
- The Bank of England published the actual and indicative minimum requirements for own funds and eligible liabilities (MREL).
Published on
02 September 2019
Cross cutting publications and updates
Second meeting of the PRA and FCA’s joint Climate Financial Risk Forum (CFRF)
12 August 2019
The CFRF co-chaired by the PRA and Financial Conduct Authority (FCA), met for the second time in July 2019. The next CFRF meeting will take place in Q4 2019. See the climate change webpage for the minutes of the Forum, as well as more information on the Bank’s work on climate change.
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For information on strengthening accountability visit the Strengthening accountability webpage.
For information on Climate change visit the Climate change webpage.
For information on Stress testing visit the Stress testing webpage.
For information on Resolution visit the Resolution webpage.
Banking publications and updates
PRA110 reporting final taxonomy and liquidity metric monitor tool
30 August 2019
The PRA published:
- Version 3.2.0 of the Bank of England XBRL taxonomy, alongside related technical artefacts. This taxonomy is to be used for Pillar 2 liquidity reporting which follows PS13/19 ‘Pillar 2 liquidity: Updates to the framework’, published on 17 June 2019. This will take effect from Wednesday 1 January 2020. For more information see the taxonomy section on the Banks, building societies and investment firms page.
- An update (Version 01.02) to the PRA110 liquidity metric monitor tool (PRA110 LMM tool) in response to feedback received on Version 01.01, published on Friday 31 May 2019.
New Bank Start-up Unit seminar
21 August 2019
On Tuesday 15 October, the PRA and FCA New Bank Start-up Unit will be holding a seminar for those working in, or with: organisations thinking about becoming a UK bank; currently going through the bank authorisation process; or recently authorised UK banks.
The seminar will aim to provide guidance on good practice, lessons learned and what firms should focus on in their applications. The PRA will also deliver deep-dive sessions on key regulatory areas that are essential to setting up a successful new bank.
Please register your interest to attend by Friday 20 September 2019. The PRA will review responses and confirm attendance via email by Friday 27 September 2019. A maximum of two individuals per organisation will be permitted.
CP5/19 ‘Pillar 2 capital: Updates to the framework
20 August 2019
Following comments from firms and other industry participants on Consultation Paper (CP) 5/19 ‘Pillar 2 capital: Updates to the framework’ the final policy has been delayed. It will be published by the end of October 2019, rather than on Tuesday 1 October 2019 as originally specified.
Actual and indicative minimum requirements for own funds and eligible liabilities (MREL)
14 August 2019
The Bank of England published the actual (2019) and indicative (2020-21, 2022) minimum requirements for own funds and eligible liabilities (MRELs) for UK banks and building societies that have bail-in or partial transfer resolution strategies.
PS16/19 ‘Regulatory reporting: EBA Taxonomy 2.9’
7 August 2019
This PRA Policy Statement (PS) follows CP19/18 ‘Regulatory reporting: European Banking Authority Taxonomy 2.9’. This PS is relevant to UK banks and building societies as well as PRA-designated UK investment firms.
This includes the updated Supervisory Statement (SS) 34/15 ‘Guidelines for completing regulatory reports’ and updates to PRA101, PRA102, PRA103 and RFB004 templates, available on the Regulatory reporting – Banks, building societies and investment firms page.
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For further information on CRD IV visit the CRD IV updates page.
For new banks, please see the New Banks Start-up Unit page.
For information on banking regulatory returns and how to report them, visit the Regulatory reporting – banking sector page.
For details of forms used to collect data through the online statistical data application (OSCA), visit the Forms, definitions, and validation page.
Insurance publications and updates
Insurance Stress Test 2019
16 August 2019
The PRA published updated Life Insurance Stress Test 2019 and General Insurance Stress Test 2019 templates. Following the request for technical input in a letter to firms on 11 April 2019. Information on the updates is outlined under the version control tabs in each template.
Letter from Sid Malik ‘Proxy modelling survey: Best observed practice’
1 August 2019
The purpose of the letter, addressed to the Chief Risk Officers of life insurers, is to share the results from the PRA’s recent Proxy Modelling Survey with firms.
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For further information on Solvency II visit the Solvency II updates page.
For further information for non-Directive firms visit the non-Directive firms page.
For information on insurance regulatory returns and how to report them, visit the Regulatory reporting – insurance sector page.
Your inputs and views on open PRA consultations and other requests closing - September 2019
Closing date: 6 September 2019
13 September 2019
18 September 2019
27 September 2019
To view all open consultations as at 1 September 2019 please see Your input and views on open PRA consultations and other requests.
Also in the month
23 August 2019
9 August 2019
6 August 2019
2 August 2019
- ‘Real effects of financial distress: the role of heterogeneity’ – Staff Working Paper No. 814
- ‘Resilience of trading networks: evidence from the sterling corporate bond market’ – Staff Working Paper No. 813
- ‘Three triggers? Negative equity, income shocks and institutions as determinants of mortgage default’ – Staff Working Paper No. 812
These items are selected from Latest Bank of England news. Readers may also find it useful to refer to the Statistics and Research sections of the Bank’s website.
Bank Underground
Bank Underground is a blog for Bank of England staff to share views that challenge – or support – prevailing policy orthodoxies. The views expressed here are those of the authors, and are not necessarily those of the Bank of England or its policy committees.
Bank Overground
The purpose of Bank Overground is to share our internal analysis. Each bite-sized post summarises a piece of analysis that supported a policy or operational decision.
KnowledgeBank
This month KnowledgeBank includes a guide on ‘What is the economy?’.
From interest rates and inflation through to bank failures and financial crises, KnowledgeBank uses everyday examples and engaging visuals to bring economics to life.
European and international developments
Readers are also referred to the following websites:
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