UK:
UK Prudential Regulator Updates Approach Document On Banking Supervision
13 November 2018
Shearman & Sterling LLP
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On October 31, 2018, the U.K. Prudential Regulation Authority
published an updated version of its document entitled "The
Prudential Regulatory Authority's approach to banking
supervision." The document replaces the previous version that
was dated March 2016.
In the latest update, the PRA removed duplicative information
and replaced some text with links to information contained in
legislation or other material on the PRA's or Bank of
England's website. The update includes a new foreword by the
PRA's Chief Executive Officer, Sam Woods.
The update includes two new chapters, on identifying the risks
to the PRA's objectives and on how the PRA tailors its
supervisory approach. A number of new sections to existing chapters
have also been added, covering safety and soundness and the
stability of the financial system, the PRA's regulatory
principles and operational resilience. Further detail in areas such
as capital and resolvability is also added.
The Updated Approach Document is available at:
https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/approach/banking-approach-2018.pdf.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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