On 17 February 2017, we blogged that the PRA published Consultation Paper 2/17: Occasional Consultation Paper (CP2/17) which contained miscellaneous amendments to certain parts of the PRA Rulebook and certain Supervisory Statements.

The PRA has now published Policy Statement 19/17: Responses to CP2/17 ‘Occasional Consultation Paper’ (PS19/17). PS19/17 includes final rules and updated Supervisory Statement (SS) 34/15 ‘Guidelines for completing regulatory reports’ and SS9/13 ‘Securitisation’.

The final rules relate to the following:

  • regulatory references – minor amendments;
  • non-solvency II firms – external audit reporting and supplementary notes;
  • remuneration – committee and deferral periods;
  • ring-fencing – residual reporting requirements for ring-fenced bodies; and
  • securitisation – implicit support and external credit assessment institution mapping.

The PRA is also considering the responses received to Chapter 2 ‘Credit risk mitigation – secured guarantees’ and will provide feedback in a separate PRA publication.

View Policy Statement 19/17: Responses to CP2/17 ‘Occasional Consultation Paper, 20 July 2017