- Lessons learned from the 2023 banking turmoil. The Basel Committee took stock of its work to develop practical
Basel Committee initiates work on ICT risk management and synthetic risk transfers
FCA seeks views on removing the £100 contactless limit
On 14 March 2025, the Financial Conduct Authority (FCA) issued an Engagement Paper on contactless payment limits.
Background
The FCA currently set limits on the value and number of contactless payments that can be made before requiring authentication. Most banks and other payment service providers (PSPs) default to the regulatory limits
Principles for the Management of Credit Risk
On 5 February 2025, the Basel Committee on Banking Supervision (Basel Committee) issued a public consultation on a limited update of the Principles for the Management of Credit Risk (Credit Risk Principles).
The Credit Risk Principles provide guidelines for banking supervisory authorities to evaluate banks’ credit risk management processes in certain
Basel Committee work programme and strategic priorities for 2025/26
On 4 February 2025, the Basel Committee on Banking Supervision (Basel Committee) published its work programme and strategic priorities for 2025/26.
The programme prioritises work on Basel III implementation, risk assessment and safeguarding resilience, digitalisation, and liquidity. As part of its work on risk assessment the Basel Committee will pursue a deep
The new rules for cross-border banking business from third countries under CRD VI: What should non-EEA firms do now?
We have published a new briefing note concerning the CRD VI – The new rules for cross-border banking business from third countries under CRD VI: What should non-EEA firms do now?
LSB announces plans to retire its Standards of Lending Practice for Personal Customers
On 27 January 2025, the Lending Standards Board (LSB) published its consultation response and next steps following a review of its Standards of Lending Practice for Personal Customers (the personal Standards). The document includes the announcement that the personal Standards will be retired on 31 March 2025.
Background
The personal Standards, which
Bank Recapitalisation Bill – despite strong cross-party support there may be a sticking point
On 23 January 2025, the Bank Recapitalisation Bill was voted through its second reading.
As mentioned by City Minister Emma Reynolds MP in the debate:
“The Bill does four main things. First, it expands the statutory functions of the Financial Services Compensation Scheme, giving the Bank of England the power to require the FSCS to
PRA ‘Dear CEO’ letter on 2025 priorities for supervising international banks
On 21 January 2025, the Prudential Regulation Authority (PRA) published a ‘Dear CEO’ letter setting out its 2025 priorities in relation to the supervision of international banks.
In the letter, which was sent to Chief Executive Officers of PRA regulated international banks active in the UK, the PRA explains that the common theme
PRA ‘Dear CEO’ letter on 2025 priorities for supervising UK deposit takers
On 21 January 2025, the Prudential Regulation Authority (PRA) published a ‘Dear CEO’ letter setting out its 2025 priorities in relation to the supervision of UK deposit takers.
In the letter, which was sent to Chief Executive Officers of PRA regulated UK deposit takers, the PRA explains that the common theme across its
PRA announces a delay to the implementation of Basel 3.1
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