The PRA has published updated versions of the following:
- PRA approach to banking supervision; and
- PRA approach to insurance supervision.
The revised version of the PRA’s approach to banking supervision contains amendments reflecting feedback the PRA has received and other recent developments. Key changes include:
- update explaining the PRA’s new secondary objective (pages 7, 15 -1 6);
- addition of a statement regarding The Bank of England and Financial Services Bill (page 9);
- amendment to the text regarding the new PRA Rulebook (pages 21 and 67);
- addition of text regarding resolvability (pages 49 – 51);
- addition of text regarding stress testing regime (page 33);
- addition of text regarding the Senior Managers’ Regime (pages 34 – 38);
- amendments to the Capital section, specifically regarding the PRA buffer and CRD IV buffer (pages 41 to 47);
- addition of text regarding Leverage Ratio Framework (page 45);
- amendments made to Liquidity section to reflect EU legislation; the EU Liquidity Coverage Requirement (pages 47 – 49); and
- removal of box 9 ‘Staffing the PRA’ to reduce duplication with other publications.
View The Prudential Regulation Authority’s approach to banking supervision, 11 March 2016
View The Prudential Regulation Authority’s approach to insurance supervision, 11 March 2016