The PRA has published Policy Statement 11/16: Amendments to the PRA’s rules on loan to income ratios in mortgage lending (PS11/16). In this Policy Statement the PRA sets out final rules intended to keep second and subsequent charge mortgage contracts excluded from the loan to income (LTI) flow limit, following the implementation of the Mortgage
The European Commission has published a public report summarising the discussions that took place at the twelfth round of negotiations on the Transatlantic Trade and Investment Partnership (TTIP) that took place between the EU and the US between 22 and 26 February 2016.
During this round, two of the three pillars of TTIP were subject
The PRA has published Consultation Paper 10/16: Regulated fees and levies: rates proposals 2016/17 (CP10/16).
In CP10/16 the PRA consults on:
The European Banking Authority (EBA) has launched a consultation on the reporting of financial information through the financial reporting (FINREP) framework and on the basis of national generally accepted accounting principles (GAAP).
The EBA is seeking feedback from EU institutions that report financial information to their competent authorities through the FINREP framework and on the
The Basel Committee on Banking Supervision (BCBS) has issued a consultative document on changes to the advanced internal ratings based approach (A-IRB) and the foundation internal ratings based approach (F-IRB).
The IRB approaches permit banks to use internal models as inputs for determining their regulatory capital requirements for credit risk, subject to certain constraints. The
In many countries, remittances received from abroad are essential to the recipients’ welfare. But money transmission can be a high-risk business, and even though money transmitters around the world are required to comply with a detailed framework of anti-money laundering (AML) laws and regulations, they still can be misused by criminals. Concerned about their own
Along with cash, checks, credit cards, and debit cards, prepaid cards have become a common method of payment for goods and services in the United States. Prepaid cards can be used at one merchant only, or multiple merchants, or for more general purposes such as funds transfers. They also can be used to dispense wages
The European Commission has adopted a Delegated Regulation supplementing the Bank Recovery and Resolution Directive with regard to regulatory technical standards:
The Capital Requirements Regulation exempts commodity dealers from large exposure requirements and from own funds requirements until 31 December 2017. It also requires the Commission to prepare, by 31 December 2015, reports on the prudential supervision of commodity dealers and of investment firms in general. That Commission review is still underway.
The Permanent Representatives Committee
The UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission have signed a cooperation agreement to support innovative businesses. The regulators will refer to other innovative businesses seeking to enter the other’s markets. The regulators will provide support to innovative businesses before, during and after authorisation to help reduce regulatory uncertainty and