EVENT: Arab bankers in London meet with PRA officials to discuss current regulatory issues

Date: 26th February, 2016 Time: 02:30 pm - 04:30 pm
Arab bankers in London meet with PRA officials to discuss current regulatory issues

Twenty eight senior bankers from 21 Arab bank branches and subsidiaries in London met with three officials from the UK's Prudential Regulatory Authority (PRA) at the ABA's offices on 26 February. This was the second such meeting that the ABA has organised between London-based Arab bankers and UK bank regulators. The meeting lasted two hours.

Key issues discussed included:

  • The transition to new liquidity monitoring that will entail the PRA relying more on liquidity supervision conducted by banks' home supervisors,
  • The implementation of the Capital Conservation Buffer and its relation to the Counter Cyclical Buffer,
  • Issues related to the Senior Managers Regime, and in particular the difficulty of filling 'controlled function' vacancies within 12 weeks,
  • The EU's Deposit Guarantee Scheme Directive, and in particular the extension of the DGS to corporate deposits,
  • The supervisory focus on banks' business models, in particular in the light of low oil prices.

The meeting was conducted under the "Chatham House Rule".

Attendees from the banks and the PRA officials commented that the meeting had been useful and all agreed that another meeting should be scheduled at a mutually convenient time over the summer.

The meeting forms part of the ABA's efforts to represent and promote the interests of Arab banks in London.




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