Treasury Committee responds to PRA on CRR II and CRD V proposals

The House of Commons Treasury Select Committee has published a letter to Andrew Tyrie, Committee Chairman, on European Commission – Prudential reform proposals. The letter responds to the PRA's letter, dated 27 January, which sets out the PRA's view on aspects of the European Commission's legislative proposals to amend EU prudential requirements for banks and investment firms. HM Treasury, 7 February 2017

BoE speech on stability in new retail payments infrastructure

The BoE has published a speech given by David Bailey, Director of Financial Market Infrastructure, at the Westminster Business Forum Keynote Seminar: The future for UK payments policy – infrastructure, regulation and consumer priorities. Bank of England, 21 February 2017

EBA speech on draft RTS on strong customer authentication and common and secure communication under PSD2

The EBA has published a speech by Andrea Enria, EBA Chairman, on PSD2 given at the Westminster Forum. The speech outlines some of the solutions the EBA has adopted to address the challenges presented by the competing objectives of PSD2. EBA, 21 February 2017

PwC: lack of diversity could damage financial services reputation

PwC has produced a report warning the lack of diversity in banks, insurance and asset management firms could become a 'lightning rod' for public disillusionment similar to feelings to high executive pay following the financial crisis. PwC, 21 February 2017

INSURANCE BoE speech on first year of regulation under Solvency II

The BoE has published a speech given by David Rule, Executive Director of Insurance Supervision, at the Association of British Insurers. The speech covers the first year of regulation under the Solvency II Directive (2009/138/EC).

Bank of England, 21 February 2017

Lloyd's Market Association guidance on use of ORSA reports

Lloyd's Market Association has published guidance on own risk and solvency assessment (ORSA) reports can best be used to promote a risk and capital culture. Lloyds Market Association, 21 February 2017

ECB letter on development of SSM guides on ICAAP and ILAAP for significant institutions

The ECB has published a letter from Daniele Nouy, Chair of the Supervisory Board of the ECB, to the management of significant institutions on the start of a multi-year plan on SSM Guides on IOCAAP and ILAAP.

European Central Bank, 20 February 2017

EIOPA publishes new Q&As on TLAC and templates

The EIOPA has published three new sets of Q&As relating to Solvency II, covering:

  • (EU) No 2015-2450 with regard to the templates for the submission of information to the supervisory authorities
  • EU) No 2015-2452 with regard to the procedures, formats and templates of the solvency and financial condition report​
  • Guidelines on the loss-absorbing capacity of technical provisions and deferred taxes

EIOPA, 21 February 2017