03 August 2015

Bank of England: The PRA Rulebook - Part 3

This policy statement further advances the commitment made by the PRA in its Approach Documents to amend and streamline substantially both the PRA Handbook and the associated materials carried over from the FCA, creating a new Rulebook and body of supporting supervisory statements.

The PRA is planning to launch the new PRA Rulebook online this year. The new website will reshape the presentation of the PRA’s requirements by improving the online presentation and functionality of the PRA’s rules.

The PRA has decided to postpone the publication of the supervisory statement on internal governance of third-country branches (Appendix 2.2 in CP17/15) and the making of the PRA Rulebook: CRR firms: Internal governance of third-country branches instrument [Year] (Appendix 1.4 in CP17/15) as a number of expectations will be superseded or otherwise affected by the introduction of the Senior Managers Regime. The PRA will publish the final supervisory statement in due course.

Appendix 1 to the PS sets out final rules on:

• Passporting
• Regulatory reporting
• Reverse stress testing

Appendix 2 to the PS sets out final supervisory statements setting out expectations that relate to:

• Aggregation of holdings for the purpose of the prudential assessment of controllers
• The internal capital adequacy assessment process (ICAAP) and the supervisory review and evaluation process (SREP)
• Guidelines for completing regulatory reports (entering into force on 1 January 2016)
• Internal governance

Press release

Policy statement

Aggregation of holdings for the purpose of the prudential assessment of controllers – SS33/15

The Internal Capital Adequacy Assessment Process (ICAAP) and the Supervisory Review and Evaluation Process (SREP) – SS31/15 UPDATE

Guidelines for completing regulatory reports (entering into force on 1 January 2016) – SS34/15

Internal governance – SS21/15 UPDATE

Consultation paper

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