On 7 July 2016 the Prudential Regulation Authority (PRA) issued the following publications on structural reform and operational continuity:
1) The implementation of ring-fencing: prudential requirements, intragroup arrangements and use of financial market infrastructures – PS20/16. This policy statement (PS) provides feedback on responses received to Consultation Paper (CP) 37/15 ‘The implementation of ring-fencing: prudential requirements, intragroup arrangements and use of financial market infrastructures’. As part of PS20/16 the following have also been published:
- PRA Rulebook CRR Firms and Non-authorised persons: Ring-fenced Bodies Instrument 2016
- Ring-fenced bodies (RFBs) – SS8/16
- Groups – SS15/13 UPDATE
- Large exposures – SS16/13 UPDATE
- Statement of Policy – The PRA’s methodologies for setting Pillar 2 capital
- Update to FSA078 Pillar 2 Concentration risk minimum data requirements – instructions
- Update to Pillar 2 reporting schedule
2) The implementation of ring-fencing: reporting and residual matters – CP25/16 . This CP consists of two parts. Part one of this CP focuses on reporting requirements for RFBs. Part two focuses on additional matters relating to ring-fencing on which the PRA has decided to consult.
3) Ensuring operational continuity in resolution – PS21/16. This PS provides feedback to responses to CP38/15 ‘Ensuring operational continuity in resolution’ and the addendum to CP38/15 published in October 2015. As part of PS21/16 the following have also been published:
- Ensuring operational continuity in resolution – SS9/16
- PRA RULEBOOK: CRR FIRMS: OPERATIONAL CONTINUITY INSTRUMENT 2016
Structural reform – authorisations
The PRA has also created a section for ‘Structural reform – authorisations’. This includes a webpage with information on how ring-fenced bodies can apply to the PRA to request permission to indirectly access inter-bank payment systems, referred to in PS20/16.
The PRA statement can be found here.