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ARTICLE · 23 JANUARY 2014

Financial Services Update - Week To 9 January 2014

Dundas & Wilson
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A look at developments in the financial services industry in the week to 9 January 2014.

United KingdomFinance and Banking
Dundas & Wilson
Dundas & Wilson

PRA Policy Documents (www.bankofengland.co.uk)

PRA confirms Euro-Sterling value for insurance regulatory purposes

The PRA has confirmed that the Sterling value of the Euro for insurance regulatory purposes for 12 months from 31 December 2013 is 85.020 pence.

This value must be used when calculating capital resource requirements and when applying the relevant regulatory returns for insurers to deposit under the PRA rules.

The PRA also states that "no changes have been made this year to the Base Capital Resources Requirement (BCRR) under the EU Insurance Directives."

8 January 2014

PRA Other Publications (www.bankofengland.co.uk)

PRA confirms it is undertaking an enforcement investigation against the Co-operative Bank

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