PRA publishes PS21/19, PS22/19 and CP24/19

Prudential Regulation Authority publishes PS21/19, PS22/19 and CP24/19 30 September 2019 Responses to CP13/19 'Occasional Consultation Paper' - PS21/19 This Prudential Regulation Authority (PRA) Policy Statement (PS) provides feedback to responses to Consultation Paper (CP) 13/19 ‘Occasional Consultation Paper’. It also includes the final rules, updated supervisory statements (SS), and relevant templates and LOG files. This PS is relevant to different firms, as follows: Chapter 2 of CP13/19 – all UK insurance firms within the scope of Solvency II, the Society of Lloyd’s, and firms that are part of a Solvency II group that will determine and classify capital instruments under the Solvency II own funds regime, together with their advisors. Chapter 3 of CP13/19 – all insurance firms, insurance holding companies, and the Society of Lloyd’s. Chapter 4 of CP13/19 – UK banks and UK designated investment firms with Capital Requirements Regulation (CRR) Internal Model Approach (IMA) permissions. Chapter 5 of CP13/19 – all Solvency II firms, including the Society of Lloyd’s. Read more Also published: Guidelines for completing regulatory reports - SS34/15 UPDATE Solvency II: Regulatory reporting internal model outputs - SS25/15 UPDATE Solvency II: Own funds - SS2/15 UPDATE Solvency II: the quality of capital instruments - SS3/15 UPDATE Subordinated guarantees and the quality of capital for insurers - SS8/14 UPDATE FCA and PRA changes to mortgage reporting requirements - PS22/19 This policy statement is directly relevant to:  mortgage lenders mortgage administrators entities which own mortgage books but which are not FSMA authorised  This policy statement will also be relevant to stakeholders with an interest in the mortgage market, including: trade bodies charities and organisations representing consumer interests Read more Asset encumbrance - CP24/19 In this consultation paper (CP), the Prudential Regulation Authority (PRA) sets out its proposed expectations of firms when managing the key prudential risks associated with asset encumbrance, specifically in the contexts of managing liquidity and funding risks, recovery planning, and resolution. The PRA’s proposed expectations relate both to firms’ internal monitoring and management of these risks, and to the information that firms are expected to provide to the PRA through their periodic regulatory submissions, eg Internal Liquidity Adequacy Assessment Process (ILAAP) documents and recovery plans. Read more