Further delays to CRD IV (COREP)

Rumours have been circulating in recent months about further delays to COREP; the FSA have today issued a revised statement on the expected CRD IV and CRR implementation, claiming it is continuing work on implementing the directive and expects firms to do the same.

In response to further deferrals in the negotiation timetable, the FSA have put back implementation of COREP a further six months claiming it will start collecting data for the period beginning 1 January 2014, should the legislation and related standards be in force by that date.

The FSA set out their intended approach to capital transition in a statement in October 2012. Once finalised legislative text is available at the EU level the FSA intends to publicly consult on changes to FSA rules.

ALMIS International will work with clients to meet the new rules and are holding a seminar with the FSA (soon to be PRA) in London on 10th April 2013 to discuss the practical implications – already over 20 banking firms have signed up to attend this event. This will discuss developments in bank liquidity and capital regulations & practices; it will provide an overview of the latest developments in bank regulations and practices with a particular emphasis on CRD IV and the impact of BASEL III.

For more information on the ALMIS International Seminar “Developments in Bank Liquidity and Capital Regulations” click here.

Source: FSA