Included in this week's edition of InCredit: More than 100 market participants sign UK Money Markets Code; PRA proposes to update certain reporting requirements; ECB consults on part 2 of its bank licensing guide. 


UK

More than 100 market participants sign UK Money Markets Code

The Bank of England’s Money Markets Committee (MMC) has launched a Public Register which lists institutions which have agreed to publicly displaying their signed Statement of Commitment to the UK Money Markets Code.

MMC, 17 September 2018

Creditworthiness Assessment Bill

A provisional date has been set for the 2nd reading at the House of Commons. The provisional date is on 26 October 2018. The Bill will require certain matters to be taken into account when assessing a borrower’s creditworthiness.

Private Member's Bill, 17 September 2018

'FCA Live and Local': 2018/19 regional programme of events

The FCA's 2018/2019 regional programme of events, 'FCA: Live and Local', starts up again in September 2018 with events taking place across the UK. The programme, traditionally aimed at general insurance, retail investment and mortgage firms, will now include events for non-bank payment services providers and compliance consultants.

FCA, 13 September 2018

Mortgage Lending Statistics

The FCA has published the Mortgage Lending Statistics - September 2018. The latest findings are that the outstanding value of all residential loans continued to increase in 2018 Q2 to £1,417.2 billion, 3.8% higher than a year ago (Q2 2017). Compared to last year, there has been an increase in total new lending by 6.4% to £66.7 billion. Comparing gross advances to Q1 2018 there has been an increase of 6.9%.

FCA, 11 September 2018

PRA proposes to update certain reporting requirements

The PRA has published a consultation paper -"Regulatory reporting: EBA Taxonomy 2.9 Consultation Paper 19/18" setting out proposals to update certain PRA reporting requirements to reflect relevant proposals made by the European Banking Authority (EBA) in its open consultations on changes to the Implementing Technical Standards on Supervisory Reporting. This CP is relevant to UK banks and building societies.

PRA, 12 September 2018

HMT consults on draft Banks and Building Societies (Priorities on Insolvency) Order 2018

HM Treasury is seeking views on the government's approach to transposing the Bank Creditor Hierarchy Directive into UK law before the transposition deadline of 29 December 2018. The directive will amend Article 108 of the Bank Recovery and Resolution Directive (BRRD), establishing a new class of non-preferred senior debt to be inserted in the creditor hierarchy. The consultation closes on 10 October 2018.

HMT, 13 September 2018

Worldwide

ECB consults on part 2 of its bank licensing guide

A consultation has been launched by the European Central Bank (ECB) on the second part of its guide to assessments of license applications. Part 2 focuses on assessment criteria for capital requirements and business plans and the consultation runs until 25 October 2018.

ECB, 14 September 2018

Key contacts

Amanda Hulme

Amanda Hulme

Partner, Head of Financial Regulation
London

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Lorna Finlayson

Lorna Finlayson

Partner, Financial Regulation
Edinburgh

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Rosanna Bryant

Rosanna Bryant

Partner, Financial Regulation
Leeds, UK

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