Law, Regulation and Policy

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The Prudential Regulation Authority's Approach to Implementation of the O-SII Buffer

PRA statement of policy on its' approach to implementation of the other systemically important institutions buffer

UK Prudential Regulation Authority implementation of the systemic risk buffer (SRB). Framework applies to large banks and specifies set of criteria for assessing the extent to which the failure or distress of an SRB institution might post a long term non-cyclical systemic or macroprudential risk. Creates methodology for measuring the criteria and giving SRB institutions a single score in relation to the criteria with a corresponding SRB rate.

Publisher: National Regulators Release date: Dec 2020 Country: United Kingdom

Type: Law, Regulation and Policy

Topics: Systemic risk, Systemically important financial institutions (SIFIs), Capital adequacy, Macroprudential

Sectors: Banking

Approach to Identifying Other Systemically Important Institutions (O-SIIs)

BOE policy statement sets out criteria to identify other systemically important institutions

Bank of England policy statement sets out criteria and scoring methodology that Prudential Regulation Authority uses to identify other systemically important institutions (O-SIIs). Is parallel to approach for identifying globally systemically important institutions (G-SIIs). Approach is consistent with European Banking Authority Guidelines which set out O-SII identification process consisting of two stages. First stage is minimum mandatory framework consisting of prescribed set of criteria, indicators and weights that authorities should use to identify the institutions that must be designated as O-SIIs. Second stage offers authorities discretion to overlay the mandatory part of the framework in order to better reflect the specificities of the national banking sector; and if appropriate, designate additional firms as O-SIIs.

Publisher: National Regulators Release date: Dec 2020 Country: United Kingdom

Type: Law, Regulation and Policy

Parent: Capital Requirements Directive - CRD IV, Capital Requirements Regulation - CRR

Topics: Systemically important financial institutions (SIFIs), Capital adequacy

Sectors: Banking, Securities

Bank Act

Bank Act of Canada

The Bank Act of Canada. Current to February 24, 2021.

Publisher: National Government Release date: May 2020 Country: Canada

Type: Law, Regulation and Policy

Topics: Supervisory framework

Sectors: Banking

PRA's Approach to Enforcement: Statutory Statements of Policy and Procedure

Update of BOE policy first published in 2013

Bank of England (BOE) Prudential Regulation Authority (PRA) policy statement on how it will exercise disciplinary powers over external auditors and actuaries.

Publisher: National Regulators Release date: Oct 2019 Country: United Kingdom

Type: Law, Regulation and Policy

Topics: Accounting, actuarial and auditing , Early intervention and enforcement

Sectors: Banking

Notice on Cyber Hygiene

MAS set of legally binding requirements regarding cyber hygiene

Monetary Authority of Singapore legally binding requirements to raise the cyber security standards and strengthen the cyber resilience of the financial sector. Financial institutions are required to comply with the following requirements: i) establish and implement robust security for IT systems; ii) ensure updates are applied to address system security flaws in a timely manner; iii) deploy security devices to restrict unauthorized network traffic; iv) implement measure to mitigate the risk of malware infection; v) secure the use of system accounts with special privileges to prevent unauthorized access; and vi) strengthen user authentication for critical systems as well as systems used to access customer information.

Publisher: National Regulators Release date: Aug 2019 Country: Singapore

Type: Law, Regulation and Policy

Topics: Cyber risk, Operational risk

Sectors: Banking, Insurance, Pensions, Securities

Payment Services Act

MAS legislation on payment services

Monetary Authority of Singapore new payments legislation to: i) implement a single payment services licence to regulate existing and new payment services; ii) establish a regulatory structure for significant payment systems and retail payment services; and iii) address regulatory risks and concerns.

Publisher: National Regulators Release date: Apr 2019 Country: Singapore

Type: Law, Regulation and Policy

Topics: Financial market infrastructure, Financial inclusion, FinTech, Consumer education and protection, Operational risk

Sectors: Banking

Rules on Loss-Absorbing Capacity Requirements for Banks

HKMA rules on bank loss-absorbing capital requirements to support orderly failure resolution

Hong Kong Monetary Authority rules impose requirement on banks to maintain a minimum level of loss-absorbing capacity (LAC) to facilitate orderly failure resolution. Sets out the relationship between regulatory capital and LAC, external and internal (within group) LAC requirements, LAC eligibility criteria, restrictions on the sale and distribution of LAC debt instruments, a minimum debt requirement, and reporting and disclosure requirements.

Publisher: National Regulators Release date: Oct 2018 Country: Hong Kong, China

Type: Law, Regulation and Policy

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

Sectors: Banking

Notice on Risk Based Capital Adequacy Requirements for Banks in Singapore

MAS notice establishes minimum capital adequacy ratios for banks and the methodology to calculate the ratios

Monetary Authority of Singapore notice establishes minimum capital adequacy ratios for banks and the methodology they must use to calculate these ratios (Pillar 1). Provides a range of approaches for calculating regulatory capital based on the complexity and sophistication of a bank's businesses and operations. Requires banks to consider whether they have adequate capital to cover exposure to all risks and sets out MAS expectations for bank's internal capital adequacy assessment process (Pillar 2). Specifies minimum disclosure requirements in relation to capital adequacy.

Publisher: National Regulators Release date: Oct 2018 Country: Singapore

Type: Law, Regulation and Policy

Parent: Basel III Leverage Ratio Framework and Disclosure Requirements, Revisions to the Basel III Leverage Ratio Framework

Peer: Risk Based Capital Adequacy Requirements

Topics: Capital adequacy, Credit risk, Market risk, Operational risk, Securitization, Transparency and disclosure

Sectors: Banking

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

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

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Resources

382 records

The Prudential Regulation Authority's Approach to Implementation of the O-SII Buffer

Approach to Identifying Other Systemically Important Institutions (O-SIIs)

Bank Act

PRA's Approach to Enforcement: Statutory Statements of Policy and Procedure

Notice on Cyber Hygiene

Payment Services Act

Rules on Loss-Absorbing Capacity Requirements for Banks

Notice on Risk Based Capital Adequacy Requirements for Banks in Singapore

The Prudential Regulation Authority's Approach to Banking Supervision

The Prudential Regulation Authority's Approach to Insurance Supervision

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