Topic filter : Prudential Regulation Authority

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....The bank was forced to offer itself for sale after it was unable to reach a strong enough footing to satisfy the Bank of England's regulatory requirements. It blamed low interest rates and the higher-than-expected cost of its turnaround plan for its failure to meet the Bank's Prudential Regulation Authority (PRA) rules. ... [Read full article on BBC ]
Friday 24th of March 2017 09:52:14 AM
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....The Bank’s financial policy committee wants to know whether the increase marks a return to the bad old days when lenders put themselves in jeopardy by making it far too easy to obtain credit. A report into credit quality being conducted by the Prudential Regulation Authority will be the trigger for action if it finds that competition for business has led to a dilution in credit quality. ... [Read full article on Guardian ]
Monday 27th of March 2017 02:29:00 PM
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Latest Finance News related to Prudential Regulation Authority

UK's borrowing binge is worrying the Bank of England image
Source : Guardian [Read Article] Monday 27th of March 2017 02:29:00 PM
....The Bank’s financial policy committee wants to know whether the increase marks a return to the bad old days when lenders put themselves in jeopardy by making it far too easy to obtain credit. A report into credit quality being conducted by the Prudential Regulation Authority will be the trigger for action if it finds that competition for business has led to a dilution in credit quality. ...
Co-op Bank sale plan attracts suitors image
Source : BBC [Read Article] Friday 24th of March 2017 09:52:14 AM
....The bank was forced to offer itself for sale after it was unable to reach a strong enough footing to satisfy the Bank of England's regulatory requirements. It blamed low interest rates and the higher-than-expected cost of its turnaround plan for its failure to meet the Bank's Prudential Regulation Authority (PRA) rules. ...
Co-op Bank warns of more branch closures as it reports £477m loss image
Source : Guardian [Read Article] Thursday 9th of March 2017 11:25:19 AM
....The annual report repeated its warning – as it has done for the past three years – “that there are material uncertainties which may cast significant doubt on the bank’s ability to continue as a going concern”. The bank is meeting the capital requirements set out by international regulators but not the requirement specifically tailored by the Bank of England’s Prudential Regulation Authority. ...
Co-op Bank reports loss as suitors circle image
Source : BBC [Read Article] Thursday 9th of March 2017 08:37:46 AM
....It was forced to offer itself for sale after it was unable to reach a strong enough footing to satisfy the Bank of England's regulatory requirements. The bank blamed low interest rates and the higher-than-expected cost of its turnaround plan for its failure to meet the Bank's Prudential Regulation Authority (PRA) rules. ...
Australian housing market crash could lead to broader downturn, OECD warns image
....Australia’s house prices have increased by 250% in real terms since the mid 1990s, with the median house price in Sydney hitting almost $1m at the end of January. The OECD attributed this boom to domestic buyers rather than foreign investment, and recommended government policy should pressure banks to limit mortgage lending for investment properties, and avoid risky loans – echoing 2014 measures already put in place by the Australian Prudential Regulation Authority. ...
Bank of England makes obscure tweak to mortgage rules... now you can get a BIGGER mortgage image
...."As a result lenders have restricted the proportion of offers in excess of 4. 5 times income to about 13 per cent, compared to the Prudential Regulation Authority's actual limit of 15 per cent. ...
For sale: Co-op Bank looks for buyers image
Source : Guardian [Read Article] Monday 13th of February 2017 08:05:49 AM
....The bank would not put a value on its operations or indicate how much extra funds it needs. The bank is meeting the capital requirements set out by international regulators but not the requirement specifically tailored by the Bank of England’s Prudential Regulation Authority. ...
Bank of England appoints Charlotte Hogg as deputy governor image
Source : Guardian [Read Article] Thursday 9th of February 2017 05:57:26 PM
....Although Hogg lacks Shafik’s international connections at organisations such as the International Monetary Fund, the privately-educated, Oxford graduate will wield considerable experience of the domestic financial sector when she takes up her new position at the end of the month. She will sit on the monetary policy committee, the financial policy committee, the Bank’s court of directors and the board of the main City regulator, the Prudential Regulation Authority. ...
GCHQ asked to step up action against cyber-attack threat to financial services image
.... The Bank of England has also listed the threat of cyber-attacks as one of the major risks facing the financial services industry. In his letter Tyrie, a Conservative MP, outlines the responsibility for cyber-threats as being shared between the Bank’s Prudential Regulation Authority (PRA), the Financial Conduct Authority and GCHQ. ...
Savings protection limit to go back up to £85,000 image
Source : Guardian [Read Article] Monday 21st of November 2016 12:39:56 PM
....Each country in the EU but not using the euro is obliged to review its limit every five years, but is allowed to make changes in the light of unforeseen events. Following the fall in the pound over the summer, the Bank of England’s Prudential Regulation Authority (PRA) is consulting on plans to bring the limit back up to £85,000, with effect from 30 January 2017. ...
Bank compensation limit to return to £85,000 image
Source : BBC [Read Article] Monday 21st of November 2016 12:25:19 PM
....". The Prudential Regulation Authority (PRA), part of the Bank of England, will now consult on the plan, although the idea has already been approved by the Treasury and the European Commission. ...
HBOS: City regulation 'outdated and unfair' say MPs image
Source : BBC [Read Article] Monday 25th of July 2016 11:10:25 PM
....". The Treasury said: "Since 2010, we have dismantled the failed tripartite system and put in place a more focused system of judgement-led supervision by the Financial Conduct Authority and Prudential Regulation Authority. ...
Bank of England in preparations for potential Brexit image
Source : Guardian [Read Article] Sunday 5th of June 2016 02:44:02 PM
.... Any banks thought to be in difficulties through no fault of their own will be able to tap unlimited quantities of cash provided by the Bank – and even those in good shape will be able to access the special funding. Through the Bank’s regulation arm, the Prudential Regulation Authority, Carney is being kept abreast of plans by the big lenders to ensure they are prepared for the consequences of a Brexit vote. ...
Co-op bank says bonus rules could mean higher salaries and costs image
Source : Guardian [Read Article] Friday 20th of May 2016 02:46:43 PM
....“To remain competitive and to enable the attraction and retention of employees, the bank will need to change its remuneration structure and this is likely to increase costs,” the Co-op bank said. The bank, bailed out in 2013 by the hedge funds that owned its bonds, said in April that a string of charges for conduct matters such as payment protection insurance and prolonged low interest rates would mean it would take a year longer than expected to reach the goals set by the Bank of England’s Prudential Regulation Authority. ...
RBS: no evidence of criminal behaviour, rule prosecutors image
Source : Guardian [Read Article] Thursday 12th of May 2016 12:56:29 PM
.... Goodwin had no right of appeal, and in accordance with custom was given no right to make representations to the forfeiture committee, a group of four permanent secretaries. The Crown Office said its investigation had required co-operation from the Financial Conduct Authority - which replaced the FSA - the Prudential Regulation Authority, part of the Bank of England, as well as the Serious Fraud Office, the Financial Reporting Council and the Federal Reserve Bank of New York. ...
Over-confidence is a still a risk in the City, says new FCA chief image
Source : Guardian [Read Article] Monday 9th of May 2016 10:56:00 AM
.... How things have changed,” he added. Bailey, who as deputy governor of the Bank is also head of the Prudential Regulation Authority, is joining the FCA in July after George Osborne pushed out Martin Wheatley in a move that was regarded as a softening in the government’s stance toward banks. ...
Sam Woods appointed Bank of England deputy governor image
Source : Guardian [Read Article] Friday 8th of April 2016 03:24:29 PM
....Sam Woods is being promoted from his current role overseeing the insurance industry and replaces Andrew Bailey, who is being parachuted in to head the Financial Conduct Authority – the body that regulates the industry from a consumer standpoint. Woods – who at 42 is considered one of the rising stars at the Bank – will takeover as head of the bank’s regulatory arm, the Prudential Regulation Authority (PRA), on 1 July on a five-year term. ...
Qatar Islamic Bank UK fined £1.4m by PRA image
Source : Guardian [Read Article] Friday 8th of April 2016 12:45:08 PM
....4m by the Bank of England for significant failings which left it undercapitalised and exposed to too high a level of risk. The business – which specialises in sharia-compliant property financing – had failed to realise that more than 25% of its capital had been lent to a single group of borrowers, said the Bank of England’s regulatory arm, the Prudential Regulation Authority. ...
Co-op Bank chairman defends Niall Booker's £4m pay after loss image
Source : Guardian [Read Article] Friday 1st of April 2016 10:26:41 AM
....As a result of the higher charges and other factors, including prolonged low interest rates, the bank said it would take a year longer than expected to reach required levels of capital strength. The revised plan, stretching to 2020, has been approved by the Bank of England’s Prudential Regulation Authority. ...
Mortgage clampdown ANOTHER blow for landlords amid fears property bubble could burst image
. Buy-to-let borrowers will face tougher lending rules under plans by the Bank of England's Prudential Regulation Authority (PRA) announced today. ...
Landlords face new affordability tests image
Source : BBC [Read Article] Tuesday 29th of March 2016 11:06:10 AM
....If adopted, the new rules could reduce lending to landlords by up to 20% over the next three years. The Prudential Regulation Authority (PRA) - an arm of the Bank - has recommended that banks and building societies take account of:. ...
Bank of England warns that vote to leave EU risks a credit crunch image
Source : Guardian [Read Article] Tuesday 29th of March 2016 11:00:22 AM
.... Last year, gross lending for buy-to-let property jumped to about £37bn, up from less than £10bn in 2009 and approaching the peak of almost £45bn in 2007. Lenders plan to increase buy-to-let lending by an average of 20% a year over the next two years, the Bank’s regulatory arm, the Prudential Regulation Authority, found. ...
Bank of England set to clamp down on  buy-to-let lending image
Source : Guardian [Read Article] Tuesday 29th of March 2016 07:36:12 AM
....The Bank has been watching the buy-to-let market for some time and is concerned about the amount of money pumped into the market and its vulnerability to even a small rise in borrowing costs. Threadneedle Street’s regulatory arm, the Prudential Regulation Authority, will on Tuesday publish a report on underwriting standards for buy-to-let mortgage lenders alongside scenarios for testing the financial strength of Britain’s banks. ...
Bank of England must burst the buy-to-let bubble now image
Source : Guardian [Read Article] Sunday 27th of March 2016 08:00:11 AM
.... The Bank is keen to avoid a downturn in the housing market being amplified by buy-to-let landlords selling up en masse because their investments have gone sour. On Tuesday, the Bank will publish the findings of its Prudential Regulation Authority on underwriting standards for buy-to-let contracts. ...
'Pension reforms won't be the next PPI' image
Source : BBC [Read Article] Wednesday 2nd of March 2016 06:35:59 PM
....She said the regulator had restricted the sale of complex financial products and that it also had the "nuclear option" of banning products altogether. The new chief executive of the FCA, Andrew Bailey, currently the deputy governor for Prudential Regulation at the Bank of England and chief executive of the Prudential Regulation Authority. ...
Small financial firms will escape EU bonus cap, says Bank of England image
Source : Guardian [Read Article] Monday 29th of February 2016 04:45:42 PM
....Andrew Bailey, deputy governor of the Bank of England, said he had discussed the issue with his European counterparts. “The Prudential Regulation Authority [regulator] attaches a great deal of importance to the principle of applying policies in a proportionate manner consistent with the legal provisions,” he said. ...
Bank of England says City expects more sterling volatility before EU poll image
Source : Guardian [Read Article] Tuesday 23rd of February 2016 12:04:33 PM
....Carney said if uncertainty over the referendum started to affect confidence in the economy, the BoE’s rate setters would expect that to show up in surveys conducted by its agents across the country. He said the BoE was making contingency plans and that its Prudential Regulation Authority division was keeping a check on banks’ planning for the vote. ...
What will Brexit mean for the City of London?  image
Source : Telegraph [Read Article] Friday 19th of February 2016 07:00:05 AM
.... . Along with bodies such as the Prudential Regulation Authority, the BoE decides on how much capital banks need to hold against their assets, what maximum level of loans people can take out as mortgages, or if bankers' bonuses should be capped or not. ...
EU promises to give challenger banks a break image
Source : Telegraph [Read Article] Sunday 7th of February 2016 09:36:55 PM
.... Top British regulator Andrew Bailey is also keen to reduce the burden on small banks. Andrew Bailey, the head of the Prudential Regulation Authority at the Bank of England, was also at the conference and said he backed the call for more proportional regulation for smaller banks. ...
Brexit won't put an end to red tape, warns Bank deputy image
Source : Telegraph [Read Article] Wednesday 3rd of February 2016 04:54:54 PM
.... . While he said Mr Cameron's aims had been clearly set out, Mr Bailey, who is currently the chief executive of the Prudential Regulation Authority (PRA), said more "flesh needs to be put on the bone" of the agreement to protect Britain and other non-euro members' interests as the eurozone moves towards ever closer union. ...
MPs to debate whether Financial Conduct Authority is up to job of regulating City image
....The decision by the FCA to abandon a review into the culture of banks sparked a series of accusations that the Treasury had intervened – strongly denied by both the regulator and the Treasury – as part of a softer approach to the City. The motion will be heard just days after George Osborne stunned the City by naming Andrew Bailey, a deputy governor of the Bank of England and the head of the Prudential Regulation Authority, as the chief executive of the FCA. ...
City News: Guinness, TSB, HBOS, FirstGroup image
Source : Daily Express [Read Article] Thursday 28th of January 2016 07:57:00 PM
....CITY regulators will investigate the role of certain senior managers in the near collapse of HBOS in 2008 during the financial crisis. The Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority will assess if the bosses should be banned from working in banking. ...
Lloyds sell-off teaches George Osborne a valuable lesson in timing image
Source : Guardian [Read Article] Thursday 28th of January 2016 02:42:01 PM
....Related: FCA orders new inquiry into HBOS chiefs. Given that backdrop, it will have been the easiest decision in the world for the FSA’s successors – the Financial Conduct Authority and the Prudential Regulation Authority – to decide that, yes, they will begin investigations into “certain former HBOS senior managers”. ...
Regulators to investigate HBOS managers image
Source : BBC [Read Article] Thursday 28th of January 2016 11:13:19 AM
....A new investigation has now been announced by regulators. "The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have decided to start investigations into certain former HBOS senior managers," the regulators said. ...
City watchdogs open probe into HBOS directors  image
Source : Telegraph [Read Article] Thursday 28th of January 2016 10:50:36 AM
.... . The Financial Conduct Authority and Prudential Regulation Authority have opened investigations into “certain former HBOS senior managers”, who were not named, and said they continue to review others for possible probes. ...
FCA orders new inquiry into HBOS chiefs image
Source : Guardian [Read Article] Thursday 28th of January 2016 10:21:45 AM
....City regulators are to investigate the role of HBOS’s senior management in the near-collapse of the bank during the financial crisis more than seven years ago. The Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority (PRA) will look into the bank’s former bosses, who could be barred from working in the City. ...
Andrew Bailey, new FCA boss, says he did not apply for role image
Source : Guardian [Read Article] Wednesday 27th of January 2016 02:47:35 PM
....”. Bailey, deputy governor for prudential regulation at the Bank of England and CEO of its bank regulation arm, the Prudential Regulation Authority, was a surprise choice for the FCA role and is not expected to take up the position for six months while a successor is found. ...
New FCA boss Andrew Bailey warns City asset managers on transparency image
Source : Telegraph [Read Article] Wednesday 27th of January 2016 10:42:49 AM
.... . Mr Bailey, who currently leads the Prudential Regulation Authority, said that with large financial firms managing more and more money for investors following the financial crisis, they have a responsibility to be clear about the type of assets on their books. ...
Source : Reuters [Read Article] Wednesday 27th of January 2016 09:51:18 AM
.... Andrew Bailey, the incoming head of Britain's Financial Conduct Authority, promised on Wednesday to listen carefully to the industry when he starts later this year as the regulatory tone towards banks softens. Bailey, a deputy governor at the Bank of England where he heads its Prudential Regulation Authority (PRA) banking supervision department, said it was very important to have a "very open dialogue" with a broad range of representatives. ...
Santander sets aside another £450m as PPI still haunts UK banks image
Source : Guardian [Read Article] Wednesday 27th of January 2016 08:50:20 AM
.... This is a result of ringfencing rules – devised by Sir John Vickers in his 2011 review of banking – that force financial institutions to separate their high street operations from any riskier lending and investment businesses. Banks in the UK have to submit plans for how they will comply with these rules to the Bank of England’s Prudential Regulation Authority by Friday. ...
City news: City watch dog, Marston’s record, Dixons Carphones and Easyjet  image
Source : Daily Express [Read Article] Tuesday 26th of January 2016 09:01:00 PM
. Bailey, who has worked for the Bank for 30 years in various posts, has been appointed for five years and will start when a successor is found for his current role as head of the Prudential Regulation Authority. ...
Warning signs were there for Tesco – what on earth was it doing? image
Source : Guardian [Read Article] Tuesday 26th of January 2016 07:25:43 PM
.... Hanna and Cescau departed last year – with thanks from the chairman for their valuable contributions, naturally. Andrew Bailey, head of the Bank of England’s Prudential Regulation Authority, doesn’t sound overly pleased to be shuffled off to east London to lead the Financial Conduct Authority. ...
Andrew Bailey: three decades at the regulatory coal face image
Source : Telegraph [Read Article] Tuesday 26th of January 2016 07:16:18 PM
.... . In Bailey’s current job at the Bank of England, serving as both deputy governor and head of the Prudential Regulation Authority, his workload includes subjecting the banks to their annual stress tests, grappling with new rules on bankers’ pay and checking the country’s biggest insurers for instability. ...
Will new FCA chief Andrew Bailey fight 'like a dog with a bone' for consumers? image
....He joined the Bank of England in 1985 and worked his way up, becoming chief cashier, with his signature on bank notes between 2004 and 2011. He might not have become deputy governor of the Bank in April 2013 had Sir Hector Sants not decided to step down as the head of the nascent regulator now known as the Prudential Regulation Authority. ...
Source : Reuters [Read Article] Tuesday 26th of January 2016 03:22:25 PM
....Wheatley was ousted after Osborne pledged to seek a "new settlement" with London's financial district after years of banking scandals, such as the mis-selling of payment protection insurance and financial benchmark rigging, in the wake of the 2007-09 financial crisis. Bailey, who comes armed with regulatory experience, a proven track record and is respected in Britain and elsewhere, currently heads the BoE's Prudential Regulation Authority (PRA), the central bank's banking supervisory arm. ...
MPs tell Carney: Make your mind up if you're staying at the Bank of England image
Source : Telegraph [Read Article] Tuesday 26th of January 2016 12:35:06 PM
.... . As Mr Carney was speaking to MPs, it was announced his deputy governor and chief executive of the Prudential Regulation Authority Andrew Bailey has been appointed as chief of the Financial Conduct Authority, a separate regulator that aims to promote good behaviour in the City. ...
Andrew Bailey is new City watchdog boss image
Source : BBC [Read Article] Tuesday 26th of January 2016 10:33:07 AM
....The FCA is the City watchdog and the UK's most prominent financial consumer protection body. He has been appointed for five years and will start when a successor is appointed for his role as head of the Prudential Regulation Authority (PRA). ...
Source : Reuters [Read Article] Tuesday 26th of January 2016 10:07:25 AM
....Wheatley was ousted after Osborne pledged to seek a "new settlement" with London's financial district after years of banking scandals, such as the mis-selling of payment protection insurance and financial benchmark rigging, in the wake of the 2007-09 financial crisis. Bailey, who comes armed with regulatory experience, a proven track record and is respected in Britain and elsewhere, currently heads the BoE's Prudential Regulation Authority (PRA), the central bank's banking supervisory arm. ...
George Osborne appoints Andrew Bailey as FCA chief image
Source : Guardian [Read Article] Tuesday 26th of January 2016 10:05:09 AM
Andrew Bailey named surprise choice to run Financial Conduct Authority image
Source : Telegraph [Read Article] Tuesday 26th of January 2016 09:36:15 AM
.... . Mr Bailey, who currently heads up the Prudential Regulation Authority, will become the City's regulator-in-chief once a replacement for his existing role is found. ...
Iran's banks could be allowed to restart trading in UK after sanctions lifted image
.... . Melli Bank and Persia International have been in talks with the regulator and the Treasury about restarting operations in Britain for months and have been placed in the New Bank Start-Up unit, unveiled last week by the Financial Conduct Authority and the Bank of England's Prudential Regulation Authority (PRA) to help new banks enter the market, sources told Reuters. ...
HBOS collapse: Watchdog to scrutinise auditing again image
Source : Telegraph [Read Article] Thursday 21st of January 2016 12:37:09 PM
.... . In November the City’s regulators, the Financial Conduct Authority and the Prudential Regulation Authority, pointed to management failures at HBOS in their long-awaited report into the bank. ...
Accounting watchdog weighs up inquiry into KPMG's audit of HBOS image
Source : Guardian [Read Article] Thursday 21st of January 2016 11:22:22 AM
....A spokesman for KPMG, one of the big four accountancy firms, said it supported a thorough review of the HBOS affair and that it was important for conclusions to be reached speedily. He added: “We were pleased that the [Prudential Regulation Authority] and Financial Conduct Authority] report issued last November recognised that KPMG provided robust challenge and delivered clear warnings to HBOS and that this resulted in a more prudent approach to provisioning than would otherwise have been adopted. ...
Shawbrook Bank poaches Lloyds executive image
Source : Telegraph [Read Article] Thursday 21st of January 2016 05:00:53 AM
.... . Both the Financial Conduct Authority and the Bank of England will run the unit, with Martin Stewart at the Prudential Regulation Authority running the Bank’s side of the set-up. ...
City bids to boost business from India as China slows image
Source : Telegraph [Read Article] Tuesday 19th of January 2016 06:19:57 PM
.... . Regulators are also backing the initiative, including Andrew Bailey, chief executive of the Bank of England's Prudential Regulation Authority  Photo: Clara Molden. ...
Source : Reuters [Read Article] Tuesday 19th of January 2016 07:46:44 AM
....On Wednesday, McDermott will expand on her reasons why the review was ditched and detail how the watchdog is tackling bank culture in other ways, a person familiar with the FCA said. Critics say the FCA could learn a lesson from Britain's other new post-crisis watchdog, the Bank of England's Prudential Regulation Authority, which ensures that banks hold enough capital to stay financially sound. ...
City news: BHP Billiton, Construction growth falls, Co-op pair ban and Moneysupermarket image
....THE former boss of the Co-operative Bank and another senior executive have been banned from holding top financial services jobs for their roles in its near-collapse. The Bank of England’s Prudential Regulation Authority also fined ex-chief executive Barry Tootell £173,802, and Keith Alderson, who ran Co-op Bank’s corporate and business banking operation, £88,890. ...
Former Co-op Bank executives banned image
Source : BBC [Read Article] Friday 15th of January 2016 12:36:07 PM
....The Bank of England has banned two former Co-operative Bank executives from holding senior banking positions. The BoE's Prudential Regulation Authority said former chief executive Barry Tootell had been banned for "breaches" in the running of the bank. ...
Bank of England bans two former Co-op Bank chiefs from top City jobs image
Source : Guardian [Read Article] Friday 15th of January 2016 12:19:35 PM
.... He was paid £623,000 by the time he formally left at the end of 2013. The Bank of England’s regulatory arm, the Prudential Regulation Authority, found Tootell contributed to a culture at the bank that focused on the short-term financial position. ...
Former Co-op Bank bosses banned from City for life image
Source : Telegraph [Read Article] Friday 15th of January 2016 12:18:40 PM
.... . The Prudential Regulation Authority, the Bank's supervisory arm, has taken the action against Barry Tootell, the former chief executive, and Keith Alderson, who ran the bank's corporate banking arm in the period up until its near-collapse. ...
Bank of England acts to discourage bonus buyouts by new employers image
Source : Guardian [Read Article] Wednesday 13th of January 2016 12:55:40 PM
....Lawyers warned that the detail of how the bonuses would be clawed back, or subject to so-called malus, would need to worked out. Steven Cochrane, a remuneration expert at the law firm Pinsent Masons said the Prudential Regulation Authority, the regulatory arm of the Bank of England, was in effect requiring any buyout of shares by a new employer to be subject to adjustment if the old employer found problems that would trigger grounds to restrict bonuses. ...
Bankers' bonuses to come with strings attached even if they move companies image
Source : Telegraph [Read Article] Wednesday 13th of January 2016 12:16:05 PM
.... . “Individuals should be held accountable for their actions and not be able to actively evade the consequences of their actions,” said Andrew Bailey, chief executive of the Bank of England’s Prudential Regulation Authority. ...
Pressure builds on FCA as Osborne rules out Tracey McDermott from top job image
Source : Telegraph [Read Article] Thursday 7th of January 2016 11:24:52 AM
.... In November, the regulator published its long-awaited report on the failures at HBOS, which was merged with Lloyds and later bailed out during the financial crisis. The report, co-written with the Bank of England’s Prudential Regulation Authority, omitted the names of staff at the regulator who attended crucial meetings in the run-up to the bank’s near-collapse. ...
Lloyds bondholders to seek Supreme Court hearing image
Source : Telegraph [Read Article] Monday 21st of December 2015 05:45:32 PM
.... The bank said after the Appeal Court ruling, which was unanimous, that it "remains our intention" to buy back the bonds at par or face value. It would need approval from the banking regulator, the Prudential Regulation Authority, although this is seen as a formality. ...
Small banks told: you will be hit by bonus cap image
Source : Telegraph [Read Article] Monday 21st of December 2015 12:39:37 PM
.... . Andrew Bailey, who heads the Prudential Regulation Authority at the Bank of England, believes the bonus cap is a damaging policy and has supported fixed allowances. ...
Lloyds bondholders band together to fund Supreme Court appeal image
Source : Telegraph [Read Article] Wednesday 16th of December 2015 02:40:44 PM
.... Lloyds Banking Group said after the Appeal Court ruling, which was unanimous, that it "remains our intention" to buy back the bonds at par value. It would need approval from the banking regulator, the Prudential Regulation Authority, although this is seen as a formality. ...
Willie Walsh's threats over Heathrow runway dithering is just hot air image
Source : Guardian [Read Article] Tuesday 15th of December 2015 08:05:42 PM
.... That is because – unlike David Cameron with his “no ifs, no buts, no third runway” pledge – Walsh knows better than to make a rash promise to which he might be held. If life had turned out differently, Sir Hector Sants would be the UK’s top financial regulator – chief executive of the Prudential Regulation Authority (PRA) and a deputy governor of the Bank of England. ...
MPs pile pressure on accountancy watchdog to investigate HBOS auditors image
Source : Guardian [Read Article] Tuesday 15th of December 2015 05:57:00 PM
....”. The FSA has been disbanded and its responsibilities split between the Bank of England’s Prudential Regulation Authority, which Bailey runs, and the Financial Conduct Authority, which was run by Martin Wheatley until he was forced out by the government in September after taking a tough stance on the City. ...
UK lenders can survive an HBOS-type crash, says Bank of England image
Source : Telegraph [Read Article] Tuesday 15th of December 2015 02:27:12 PM
. Britain’s banks are now strong enough to survive a financial heartattack like that suffered by HBOS in 2008 without collapsing, according to the chief executive of the Bank of England’s Prudential Regulation Authority. ...
Standard Chartered shareholders back £3.4bn rights issue image
Source : Telegraph [Read Article] Friday 11th of December 2015 09:32:47 AM
.... . The move is thought to have been approved by the Prudential Regulation Authority at the Bank of England. ...
Martin Gilbert: Bank of England should scrap daily liquidity image
Source : Telegraph [Read Article] Saturday 5th of December 2015 07:30:28 PM
.... The Financial Conduct Authority, headed by Tracey McDermott, is also looking at the asset management sector. The Bank of England’s Financial Policy Committee could make recommendations to the Prudential Regulation Authority or the Financial Conduct Authority on how to change the asset management sector, but it is still diagnosing the problems for now. ...
Britain's biggest insurers get green light for European capital plans image
Source : Telegraph [Read Article] Saturday 5th of December 2015 01:36:43 PM
.... .   Andrew Bailey, head of the Bank's Prudential Regulation Authority (PRA), said the approvals marked a “major milestone in the implementation of Solvency II in the UK”, which comes into force on January 1 after more than a decade of planning. ...
Mark Carney is relaxed about our banks, but a nagging doubt remains image
Source : Guardian [Read Article] Tuesday 1st of December 2015 08:03:48 PM
.... Even on much-debated risks such as the surge in buy-to-let lending in the UK, Threadneedle Street seems relatively relaxed. The Prudential Regulation Authority unit will examine the buy-to-let market but no curbs on lending were announced on Tuesday. ...
England cannot build the 300,000 homes a year it needs, warns Dame Kate Barker image
.... . The Treasury is planning to launch a consultation this month on giving the Bank more powers to limit BTL loans, and the Prudential Regulation Authority is investigating underwriting standards in the industry to check up on the emerging risks. ...
Bank stress tests fail to quell doubts image
Source : Guardian [Read Article] Tuesday 1st of December 2015 01:49:06 PM
.... Even on much-debated risks, such as the surge in buy-to-let lending in the UK, Threadneedle Street seems relatively relaxed. The Prudential Regulation Authority unit will examine the buy-to-let market but no curbs on lending were announced on Tuesday. ...
Source : Reuters [Read Article] Tuesday 1st of December 2015 07:19:44 AM
....Even if domestic cost pressures are too weak to warrant a rate rise, British consumer and mortgage lending is growing at its fastest rate since the financial crisis. So-called buy-to-let mortgages - which enable small landlords to purchase property to rent out - showed weaker underwriting standards than residential mortgages and the BoE's Prudential Regulation Authority said it was examining this. ...
Second digital-only bank is handed a UK licence image
Source : Telegraph [Read Article] Tuesday 1st of December 2015 05:00:52 AM
.... . The lender - which plans to offer digital services including current accounts, credit cards and loans on via mobile apps and its website - gained approval from the Financial Conduct Authority and the Prudential Regulation Authority on Tuesday. ...

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