BoE: Occasional Consultation Paper

11 October 2016

It defines changes to areas like branch supervision, liquidity reporting, capital resources, market risk, ring-fenced bodies and notifications, credit unions, external audit and administration instruments.

This Occasional Consultation Paper (OCP) sets out proposed changes to the following Parts of the Prudential Regulation Authority (PRA) Rulebook, existing and new supervisory statements (SS):

• Regulatory Reporting Part and draft SS ‘Supervising international banks: the Prudential Regulation Authority’s approach to branch supervision – liquidity reporting’ (Chapter 2)
• Own Funds, Group Supervision, and Insurance Company – Capital Resources Parts (Chapter 3)
• SS13/13 ‘Market Risk’ (Chapter 4)
• Ring-fenced Bodies and Notifications Parts, and the Rulebook Glossary (Chapter 5)
• Credit Unions Part and SS2/16 ‘The prudential regulation of credit unions’ (Chapter 6)
• External Audit Part (Chapter 7)

This OCP also consults on an administration instrument (see Appendix 12).

The policy contained in this OCP has been designed in the context of the current UK and EU regulatory framework. The PRA will keep the policy under review to assess whether any changes would be required due to changes in the UK regulatory framework, including changes arising once any new arrangements with the European Union take effect.

This consultation is relevant to all PRA-authorised firms.

Responses and next steps

The consultation will close on:

• Tuesday 25 October 2016 for the administration instrument (Appendix 12)
• Monday 12 December 2016 for Chapter 5
• Wednesday 11 January 2017 for Chapters 2, 3, 4, 6 and 7

Press release

Occasional Consultation Paper

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