PRA publishes Solvency II timetable: PRA has published its timetable of activity in relation to Solvency II up to early May 2014. (Source: PRA Publishes Solvency II Timetable)

PRA consults on branch supervision: PRA has published a consultation paper setting out a draft supervisory statement on how it supervises UK branches of international banks, particularly those from outside the EEA. PRA plans to introduce a new rule to require all deposit taking and designated investment firms that operate through EEA and non-EEA branches to complete a twice-yearly data collection return from 2015. It plans to ask some branches to complete the return as part of the consultation process. Additionally, it wants to require non-EEA firms to take all steps within their control to have adequate provision in resolution plans for UK branches. As part of this exercise it will assess the equivalence of the branch's home state rules on resolution planning and will not authorise branches from home states it does not deem to be equivalent. The paper considers the distinctions for regulatory purposes between subsidiaries and branches and touches also on FCA supervision of the relevant firms. PRA asks for comments by 27 May. (Source: PRA Consults on Branch Supervision