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Items tagged with "UK"

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AIBankingDataMachine LearningUK

Predicting UK Bank Distress with Machine Learning

By Editor

The UK’s Prudential Regulation Authority (PRA) is working on machine learning techniques to predict bank distress. Using novel data sources, mainly confidential regulatory returns, this still experimental early warning system for predicting bank distress significantly outperformed other models. This development follows the Danish Business Authority’s machine learning-based Early Warning Europe, which uses large data sets from five European countries […]

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ESEFFCAReportingUK

Will the UK Adopt ESEF? 

By Editor

With their impending exit from the European Union, will the UK adopt the European Single Electronic Format (ESEF) that becomes mandatory across the EU in January 2020? The Financial Conduct Authority (FCA) have released an update indicating that they are preparing to adopt ESEF in a scenario where the UK remains subject to EU law […]

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DisclosureFRCinvestorsUK

FRC Investigate Cash Flow Disclosures

By Editor

The UK’s Financial Reporting Council (FRC) have published a report examining how effective disclosures of cash flow in annual reports are for investor needs. Investors need information on the generation, availability and use of cash as part of their assessment and analysis – but do current cash flow statements provide enough information? The FRC’s report […]

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PRAReportingUK

UK Update Regulatory Report Guidelines

By Editor

The UK’s Prudential Regulation Authority (PRA) have issued a supervisory statement updating their guidelines for completing regulatory reports. The guidelines have been updated over the summer following the adoption of the European Banking Authority Taxonomy 2.9, and again in September following the revision of the branch return for international banks. Changes to the branch return […]

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CFRFSustainabilityUK

UK Tackles Climate Risk with Forum

By Editor

Earlier this year the UK’s Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) announced the launch of the Climate Financial Risk Forum (CFRF), holding their second meeting in July 2019. The CFRF aims to tackle climate-change related financial risks with practical tools and strategic approaches. It brings together senior representatives from the financial sector to […]

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PRATaxonomyUK

PRA Publish Regulatory Reporting Updates to EBA Taxonomy 2.9

By Editor

The UK’s Prudential Regulation Authority have updated their rulebook, making a number of changes to regulatory reporting requirements. Following a consultation period, the PRA have published a policy statement outlining the final updated reporting requirements for ring-fenced bank reporting, Capital+ reporting and the scope of Financial Reporting (FINREP) to be reported by certain firms that […]

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disclosuresNon-FinancialSustainabilityUK

UK Considering Mandatory Climate-Related Financial Disclosure

By Editor

Under a proposed new Green Finance Strategy announced this week the UK Government expects listed companies and large asset owners to disclose the impact of climate change on their businesses from 2022. The Treasury is considering the most effective way of ensuring that this disclosure happens, including, if necessary, requiring mandatory disclosure. The Green Finance […]

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BankingLIBORUK

PRA Outline Best Practice in Transition from LIBOR

By Editor

The UK’s Prudential Regulation Authority (PRA) have issued a document of key findings, good practice and next steps for transition from the London InterBank Offered Rate (LIBOR) to risk-free rates (RFR) for firms to consider when planning their own transition. After a series of manipulation scandals, the once-dominant LIBOR benchmark is being abandoned, with the […]

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climate financeSustainabilityTCFDUK

BoE to Disclose Climate Risks in Annual Report

By Editor

 The Bank of England (BoE) is leading by example and disclosing its own assessment of how it is managing climate-related financial risk in its 2019/20 annual report. The BoE have been pushing for stronger climate-change related risk disclosure with a number of actions in the last year, including a recent consultation on previous climate-related risk […]

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CFRFclimate financePRASustainabilityUK

PRA Clarifies Climate Disclosure

By Editor

In light of a recent consultation, the UK’s Prudential Regulation Authority (PRA) have issued an updated supervisory statement clarifying climate-related disclosure requirements. Responses to the PRA’s consultation paper, Enhancing Banks’ and Insurers’ Approaches to Managing the Financial Risks from Climate Change, encouraged the PRA to move more quickly on climate issues, suggesting that too few firms are […]

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AI Analysis Audit Banking Climate Data Data Quality Digitisation Disclosure EBA EFRAG EIOPA ESEF ESG ESMA ESRS EU Europe FASB fintech FRC Guidance IASB IFRS India Inline XBRL ISSB iXBRL LEI Non-Financial Regulation Reporting SEC Software Spec Standards Sustainability Taxonomy Transparency UK United States US XBRL XBRL US XII News

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