Law, Regulation and Policy

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The Prudential Regulation Authority's Approach to Banking Supervision

PRA description of how it carries out its prudential regulatory role for deposit-takers and investment firms

UK Prudential Regulation Authority policy document meets PRA's statutory requirement to issue guidance on how it intends to advance its objectives. Communicates PRA's expectation to regulated firms and what they can expect from PRA in the course of supervision. Document: i) describes PRA's general statutory objective and its approach to advancing it; ii) outlines how it determines focus of its supervision in identifying key risks to its objective; iii) examines measures that it expects firms to have in place to ensure their businesses are run in a safe and sound manner; iv) sets out more detail on PRA's supervisory approach; and v) outlines PRA's approach to setting and communicating expectations of firms.

Publisher: National Regulators Release date: Oct 2018 Country: United Kingdom

Type: Law, Regulation and Policy

Peer: UK Internal Capital Adequacy Assessment Process (ICAAP) and the Supervisory Review and Evaluation Process (SREP)

Topics: Supervisory framework, Risk-based supervision, Corporate governance, Capital adequacy, Liquidity risk and rules, Transparency and disclosure

Sectors: Banking, Securities

The Prudential Regulation Authority's Approach to Insurance Supervision

PRA description of how it carries out its prudential regulatory role for insurers

UK Prudential Regulation Authority policy document meets PRA's statutory requirement to issue guidance on how it intends to advance its objectives. Communicates PRA's expectation to regulated insurers and what they can expect from PRA in the course of supervision. Document: i) describes PRA's statutory objectives and its approach to advancing them; ii) outlines how it determines focus of its supervision in identifying key risks to its primary objectives; iii) examines measures that it expects insurers to have in place to ensure their businesses are run in a safe and sound manner; iv) details PRA's supervisory approach; and v) outlines PRA's approach to setting and communicating expectations of insurers.

Publisher: National Regulators Release date: Oct 2018 Country: United Kingdom

Type: Law, Regulation and Policy

Peer: Financial Management and Planning by Insurers

Topics: Supervisory framework, Risk-based supervision, Corporate governance, Capital adequacy, Transparency and disclosure

Sectors: Insurance

Single-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking Organizations

FRB rule to address risks associated with large credit exposures

US Federal Reserve Board addresses credit exposures of large banking organizations to a single counterparty. Rule increases in stringency based on the systemic importance of firms to which they apply.

Publisher: National Regulators Release date: Jun 2018 Country: United States

Type: Law, Regulation and Policy

Topics: Credit risk, Systemic risk, Systemically important financial institutions (SIFIs)

Sectors: Banking

The Bank of England's Policy on Valuation Capabilities to Support Resolvability

BoE statement of policy valuations to support resolvability

Bank of England consultation sets out policy for the capabilities firms should have in place to ensure that an inability to produce timely and robust resolution valuations does not impede resolvability. Policy addresses the data, systems, and processes that collectively support valuations of a firm's assets, liabilities and equity.

Publisher: National Regulators Release date: Jun 2018 Country: United Kingdom

Type: Law, Regulation and Policy

Topics: Recovery and resolution, Systemically important financial institutions (SIFIs)

Sectors: Banking

Pillar 2 Liquidity Framework

PRA policy on cashflow mismatch risk framework and other means for assessing liquidity risk

UK Prudential Regulation Authority policy on a cashflow mismatch risk (CFMR) framework and other PRA methodologies to assess firms' liquidity risk under Pillar 2.

Publisher: National Regulators Release date: Feb 2018 Country: United Kingdom

Type: Law, Regulation and Policy

Peer: CRD IV: Liquidity

Topics: Liquidity risk and rules

Sectors: Banking, Securities

Minimum Requirements on the System of Governance of Insurance Undertakings

BaFin circular sets out minimum governance requirements under the Insurance Supervision Act

Federal Financial Supervisory Authority of Germany (BaFin) circular summarizes minimum requirements based on its interpretation of the Insurance Supervision Act and the European Union's Solvency II Directive. Addresses the overall roles and responsibilities of supervisory boards and management boards.

Publisher: National Regulators Release date: Jan 2018 Country: Germany

Type: Law, Regulation and Policy

Parent: Insurance Supervision Act: Amendment Promulgated in the Federal Law Gazette, Taking-up and Pursuit of the Business of Insurance and Reinsurance (Solvency II)

Topics: Corporate governance, Risk management

Sectors: Insurance

Securitisation Regulation

New regulatory framework fro EU securitization transactions

European Commission regulation improving the legal framework for securitizations and promoting the development of a simple, transparent and standardized securitization ((STS) market in the European Union. Establishes general framework for securitization and creates a specific framework for STS securitizations distinct from that for highly complex, opaque and risky securitizations. Specifies criteria that a transaction must satisfy in order to qualify as an STS securitization. Regulation takes effect on 1 January 2019.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2017

Type: Law, Regulation and Policy

Peer: Draft Standards on STS Securitisation Notifications, Draft Standards on Disclosure Requirements, Operational Standards and Access Conditions Under the Securitisation Regulation, Draft Technical Standards on Third-Party Firms Providing STS Verification Services Under the Securitisation Regulation

Topics: Securitization

Sectors: Banking, Insurance, Securities

HKMA Supervisory Policy - Internal Audit Function

HKMA supervisory policy guidance on banks' internal audit function

Hong Kong Monetary Authority supervisory policy sets out expectations on the key role, responsibilities and qualities of banks' internal audit functions, and describes HKMA's approach to assessing the effectiveness of the function.

Publisher: National Regulators Release date: Oct 2017 Country: Hong Kong, China

Type: Law, Regulation and Policy

Topics: Accounting, actuarial and auditing

Sectors: Banking

Insurance Data Security Model Law

NAIC model law sets out cybersecurity standards for insurers

National Association of Insurance Commissioners of the US model law creates rules for insurers, agents and other licensed entities covering data security, investigation and notification of breach. Includes maintaining an information security program based on ongoing risk assessment, overseeing third-party service providers, investigating data breaches and notifying regulators of a cybersecurity event.

Publisher: National Regulators Release date: Oct 2017 Country: United States

Type: Law, Regulation and Policy

Topics: Operational risk

Sectors: Insurance

Framework Cooperation Agreement on Banking Resolution

EU-US arrangement on bank crisis management and resolution

European Banking Authority Framework Cooperation Agreement with several US financial regulatory agencies lays out the basis for cooperation on bank crisis management and resolution between any of the EU supervisory or resolution authorities and any of the participating US agencies. The participating US agencies are the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, and the New York State Department of Financial Services.

Publisher: Regional Standard-Setting Bodies Release date: Sep 2017 Country: United States

Type: Law, Regulation and Policy

Parent: Bank Recovery and Resolution Directive (BRRD)

Topics: Crisis management and contingency planning, Cross-border cooperation, Recovery and resolution

Sectors: Banking

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Resources

382 records

The Prudential Regulation Authority's Approach to Banking Supervision

The Prudential Regulation Authority's Approach to Insurance Supervision

Single-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking Organizations

The Bank of England's Policy on Valuation Capabilities to Support Resolvability

Pillar 2 Liquidity Framework

Minimum Requirements on the System of Governance of Insurance Undertakings

Securitisation Regulation

HKMA Supervisory Policy - Internal Audit Function

Insurance Data Security Model Law

Framework Cooperation Agreement on Banking Resolution

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