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ARTICLE · 26 MAY 2015

The PRA's Approach To Branch Supervision: Implications For Regulatory Reporting

Deloitte
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Last year, the PRA set out a new approach to the supervision of international banks and clarified how their new branches in the UK will be scrutinised going forward.

United KingdomFinance and Banking
German Ascue
German Ascue
Enrique Benito
Enrique Benito
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Last year, the PRA set out a new approach to the supervision of international banks and clarified how their new branches in the UK will be scrutinised going forward.

For EEA branches, in accordance with the Capital Requirements Directive and Regulation, responsibility for the prudential supervision of the whole firm falls under the home state supervisor (HSS), and not the PRA. This will include supervision of liquidity risk from 1 October 2015, when the Liquidity Coverage Ratio (LCR) Delegated Act is due to apply.

Importantly, if the PRA considers that the EEA branch is important to the financial stability of the UK, it will be able to designate the branch as 'significant', triggering information requirements that would need to be fulfilled by the HSS.

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