Hints and tips:
...“They are clearly worried about this issue beyond Citi, and this case sends all the right messages for the PRA to the rest of the sector,” said Paul Sharma, the former deputy head of the PRA, now at Alvarez...
...The PRA plans to “continue to develop the microprudential supervisory approach to operational resilience....
...In Europe, which accounts for two-thirds of SSP’s revenue (inc. UK), IATA forecasts Q3 capacity down 45% vs. down 90% in Q2....
...PRA would reasonably expect notice.”...
...Regulators at the PRA are worried that returns on the mortgages — which allow the over-50s to borrow against the value of their homes, to fund their retirement — will turn out to be lower than insurance...
...Sam Woods, the head of the PRA, said: We expect firms to be open and straightforward in their dealings with the PRA. When firms fall short of this expectation we will enforce it....
...Sam Woods, the head of the PRA, said in a statement: “We expect all firms to be open and straightforward in their dealings with the PRA....
...The PRA and the FCA have already jointly written to all the main currency-dealing banks, telling them to be alert to the risk of market dislocations and to make sure electronic trading tools have the right...
...The Financial Conduct Authority, which regulates markets, and the PRA declined to comment, but people privy to their work say they have since jointly written to a clutch of the market’s biggest dealing banks...
...He has given the PRA an esprit de corps needed by this recently formed division of the BoE....
...But the PRA calculated the average hurdle rate for the group of lenders to be 6.3 per cent....
...The PRA might then resume its stately bump ’n’ grind for another year or so....
...“We want to put such a regime into effect, and thus demonstrate that at the PRA we are very serious about our competition objective,” he added....
...Last week the PRA clarified its implementation. The ringfenced bank would not “be able to stick two fingers up at its parent”, Mr Bailey said....
...Toronto-based INC Research, PRA’s main competitor, also said it had experienced an increase in the number of drug companies testing their tamper-proof medicines....
...Even though Solvency II is designed to harmonise the rules across Europe, bankers said the UK’s PRA had taken a different stance to authorities elsewhere....
...Ewen Stevenson, chief financial officer at the bank, said: “By the time we get to 2016, we’d hope to satisfy the conditions we think are needed in order to resume a conversation with the PRA [Prudential...
...KKR last year bought PRA International, another US-based clinical research company, for $1.3bn from Genstar Capital, a rival buyout company....
...Paul Sharma, a managing director with consultancy Alvarez & Marsal and former Deputy Head of the PRA, said: “This is the undiscovered country of banking regulation - the final frontier....
...The Italian carmaker Fiat was forced to cut short its Vem pra rua, vem! (“Come to the street, come!”)...
...Pras Jeyanandhan, an analyst at Berenberg, said: “Despite recent acquisitions, revenues are still largely driven by the high-margin AHL and guaranteed products....
...The PRA is helping US regulators to assess the riskiness of the bank lending to private equity in the North American market, as part of a wider programme being done on all lenders operating in the US....
...Clawback should be feasible for up to six years, the PRA said....
...Nationwide, which fell short of the PRA’s new leverage ratio requirements, received better news from the regulator....
...Jefferies acted as financial adviser to PRA, while Credit Suisse, UBS and Wells Fargo served as advisers to KKR....
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