On 3 May 2016, the PRA published its Regulatory Digest for April 2016. The Regulatory Digest summarises the key regulatory news and publications for April 2016. Some of the key relevant developments highlighted are:
- Publication of the FCA’s and PRA’s joint proposal to enhance enforcement decision-making processes.
- Sam Woods' appointment as Deputy Governor for Prudential Regulation and Chief Executive of the PRA.
Also of interest is the Bank of England’s recent consultation on its proposal for a loan-level data collection for buy-to-let lending. The Bank of England’s proposed data collection would be built on a data set currently collected by the Council of Mortgage Lenders (CML), but with additional attributes and reporters in order to provide more detail and greater coverage and, for the first time, address the needs of statistical and regulatory data users in one Bank of England collection.
The Bank proposes that firms will report data on a quarterly basis. It also proposes that all firms with new lending exceeding 20 million pounds annually will be required to report. Firms fulfilling the reporting criteria will be expected to deliver data for the first time in July 2017, relating to 2017 Q2.
The consultation is set to run until 10 June 2016.