This Practice Note looks at the regulated activity of accepting deposits (often referred to as deposit taking). Accepting deposits is a key hallmark of banks, credit...
This Practice Note provides high-level guidance on the administration regimes for UK banks, investment firms, building societies and investment banks under: • the Banking...
Background to the BRRD This Practice Note summarises the core provisions included in the Bank Recovery and Resolution Directive 2014/59/EU (BRRD). The BRRD proposed a...
Purpose and application of BRRD technical standards and guidelines The Bank Recovery and Resolutions Directive 2014/59/EU (BRRD) mandates the European Banking Authority...
The Financial Services (Banking Reform) Act 2013 (FS(BR)A 2013) received Royal Assent on 18 December 2013. . There are eight parts and ten schedules in FS(BR)A 2013....
The Financial Services (Banking Reform) Act 2013 (FS(BR)A 2013) received Royal Assent on 18 December 2013. There are eight parts and ten schedules in FS(BR)A 2013....
A package of legislation intended to reduce risks in the EU banking sector, known as the ‘banking package’, was published in the Official Journal of the EU on 7 June...
Rationale for bank ring-fencing transfer schemes (RFTS) Ring-fencing of day-to-day banking services (eg current accounts, savings and payments) and separation of retail...
This Practice Note has been archived and is not maintained. Rationale for bank ring-fencing transfer schemes (RFTS) Ring-fencing of day-to-day banking services (eg...
The Basel Committee on Banking Supervision (BCBS), consisting of the central banks of governors of the so-called G10 countries (Belgium, Canada, France, Germany, Italy,...
This note provides a legislative history of Basel II which preceded the Basel III reforms. For further information regarding Basel III and CRR and CRD IV, please see CRD...
This Practice Notice details the background and legislative history in relation to the CRD IV package, the latest package of major reforms to EU legislation on prudential...
Introduction The financial crisis of 2007-2009 caused a spike in market volatility for which firms were ill-prepared. When the capital markets froze and the market value...
The implementation of Basel III in Europe saw the replacement of the Banking Consolidation Directive (BCD) and the Capital Adequacy Directive (CAD) (also known as the...
Background to CRDIV capital buffers Capital buffers originated as a key component of the Basel III capital reforms which were issued in June 2011 and implemented across...
Definition of Credit Valuation Adjustment After years of relative neglect, the concept of Credit Valuation Adjustment (CVA) is now at the forefront as an adjustment made...
As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation...
Introduction and background The Basel II Accord recognised that operational risk is a major source of actual and potential exposure for banks and identified three...
BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...
Core elements of credit unions Credit unions are a type of financial services firm that provide savings, insurance and credit opportunities. Credit unions are a type of...
BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...
The US effort to end the ‘too-big-to-fail’ phenomenon which has seen controversial government support of the largest failing banks or other financial institutions is...
Dormant Bank and Building Society Accounts Act 2008 The management of dormant account funds and the meeting of repayment claims by a reclaim fund are regulated activities...
EU integration of banking regulation Further economic integration in regulatory areas was called for in response to the perceived lack of an integrated EU-level framework...
Regulatory powers in relation to building societies Broadly speaking, the powers of the Financial Conduct Authority (FCA) and the Prudential Regulation...
Background to the client money rules The rules governing how a firm must safeguard and handle client money held in relation to its investment business are found in...