On 17 January 2025, the Prudential Regulation Authority (PRA) announced that, following consultation with HM Treasury, it was delaying the implementation of Basel 3.1 in the UK by one year until 1 January 2027.
The PRA states that the delay is to allow more time for greater clarity to emerge about the United
On 16 January 2025, the Bank of England (BoE) published a speech on ‘Joining the dots’ between stress tests, delivered by its executive director for financial stability strategy and risk, Nathanael Benjamin, at The City UK.
The speech outlines the BoE’s new approach to stress testing banks and developments in stress tests in
On 14 January 2025, the Bank for International Settlements (BIS) updated its webpage regarding its innovation hub.
The update includes information regarding the 2025-2026 work programme which includes:
On 7 January 2025, the Prudential Regulation Authority (PRA) published Policy Statement PS1/25 – Resolution assessments: Amendments to reporting and disclosure dates.
Background
In CP12/24, published in October 2024, the PRA proposed to amend rules 3.1 and 4.1 of the Resolution Assessment Part so that the timing of future report submissions
On 17 December 2024, the Banking Act 2009 (Wholesale Cash Oversight Fees) Regulations 2024 were laid before Parliament and published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations approve the scale of fees that the Bank of England (BoE) may charge to certain firms recognised by HM Treasury in the wholesale
On 17 December 2024, the Lending Standards Board (LSB) published a summary report on its review of registered firms’ application of the Standards of Lending Practice for business customers.
Background
The Standards, which are recognised by the Financial Conduct Authority, set out the best practice framework for small and medium-sized enterprise (SME
On 16 December 2024, the Bank of England (BoE) published a speech on Payment cycles: An update on the Future Roadmap for the RTGS service, which was delivered by its executive director for payments, Victoria Cleland, at FinTech Connect on 5 December 2024.
Background
The BoE published a discussion paper on
On 16 December 2024, the Business Banking Resolution Service (BBRS) announced that its Contemporary Scheme closed to new registrations, as planned, at midnight on 13 December 2024.
BBRS’ Contemporary Scheme, which covered incidents since 2019, was given an extension to operate for 12 months before closing. The previous Historical Scheme, covering cases from
On 5 December 2024, the Financial Stability Board (FSB) published its 2024 Resolution Report.
The Resolution Report takes stock of the FSB resolution-related work of the past year as well as of the progress made by FSB members in implementing resolution reforms and enhancing resolvability across the banking, financial market infrastructure, and
On 2 December 2024, the Bank of England (BoE) published a consultation paper setting out its proposal to revoke the retained EU law Technical Standard 2019/348 on Simplified Obligations (SO UKTS).
Background
Following its withdrawal from the EU, the UK retained the EU framework for determining the level of information required within