BoE sets out post-Brexit supervision plans
Central bank says UK will aim to stay open as banks, insurers and CCPs are brought under the PRA’s oversight
The Bank of England has set out how it plans to grant authorisations to banks and insurers post-Brexit, offering some clarity on what future supervisory relationships may be.
Currently, branches of EU-headquartered banks and insurers operating in the UK are supervised by home authorities. Post-Brexit, firms will need to apply for authorisation from the BoE’s Prudential Regulation Authority, which will become their new supervisor.
The key points, set out in a series of documents today (December
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Micro-prudential
Supervisors grapple with the smaller bank dilemma
How are the guardians of stability moving to address risks linked to smaller banks in the aftermath of SVB’s collapse?
Supervisors see promise in AI but warn data remains key
IMF’s “StatGPT” project has promise but data problems are hard to solve, Regnology panellists say
Supervisors face reputational risk from fraud, Basel Committee says
Surveys shows some forms of digital fraud are rising, but data gaps are “significant”, paper warns
Former executives of troubled lender wanted by Vietnam police
Central bank is looking for investors to acquire failed Saigon Commercial Bank
Joachim Nagel on the ECB’s terminal rate, fiscal policy, model relevance and the digital euro
The Deutsche Bundesbank president speaks about compromise on the Governing Council, rolling back PEPP, the need to implement Basel III and the chances of a revised Stability and Growth Pact
Data privacy and protection: non-negotiable supervisory equations
Manoj Singh says data protection is essential to modern finance, but throws up myriad supervisory challenges
Deep learning models are ‘fragile’, BoE paper finds
Models suffering from “Rashomon effect” need better supervision, authors say
Brazil governor promises to end high-interest rotating credit
Campos Neto tells legislators central bank achieved “soft landing” on monetary policy
Most read
- Supervisors grapple with the smaller bank dilemma
- Fed policy-makers disagree over risks
- Central bank of the year: Central Bank of Brazil