PRA issues LCR reporting statement: PRA has published a supervisory statement on CRD 4 interim liquidity coverage requirement (LCR) reporting. The approach will apply from 1 October until the introduction of mandatory reporting of the new LCR return once the Commission has adopted the amending ITS on liquidity reporting. The statement outlines the reporting arrangements, standard approach and requirements for smaller firms for this period. (Source: CRD 4: Interim LCR Reporting)

PRA issues depositor protection statement: PRA has issued a supervisory statement on depositor and dormant account protection. The statement addresses:

  • eligibility;
  • disclosure;
  • marking eligible deposits and accounts and transitional issues;
  • temporary high balances;
  • dormant accounts information requirements;
  • calculation of levies;
  • the Single Customer View;
  • in-flight transactions;
  • continuity of access;
  • the scope of depositor protection requirements; and
  • the change in the deposit protection limit.

(Source: Depositor and Dormant Account Protection)

PRA writes to Treasury on HBOS report: Andrew Bailey, deputy governor of PRA, has written with Sir Brian Pomeroy, Senior Independent Director of FCA, to Andrew Tyrie MP, Chairman of the Treasury Committee, with an update on the HBOS report. They explain that:

  • the lengthy report is currently in draft and is being checked for accuracy and fairness;
  • the first wave of Maxwellisation to the extent legally required of all those criticised in the Report has now been completed, as has consideration of the large number of representations that resulted. A further Maxwellisation will now start for any person who may have been further criticised as a result of changes to the report; and
  • once this re-Maxwellisation process is complete, consent will be needed to publish in the report any confidential information under FSMA;

Since these steps must be sequential and their complexity makes it hard to estimate timing on any one of them, it is not possible to estimate a delivery date for the report. (Source: PRA/FCA Letter to the Treasury Committee on the HBOS Review)