View upcoming webinars and watch all previous webinars on demand.

06 April 2018

S&W Breakfast briefing: Regulatory headwinds

Managing Editor
Amongst the coffee and croissants, Sullivan and Worcester’s breakfast seminar discusses the importance of financial and cyber resilience for firms regulated by the Prudential Regulation Authority (PRA) in the UK. And given the PRA’s recent supervisory statement on credit risk mitigation, the findings are particularly pertinent.

In the latest edition of Sullivan Worcester’s breakfast seminar, partner Mark Noriss discusses the consultation paper published by the Prudential Regulation Authority (PRA) in February which sets out proposed updates to its supervisory statement on credit risk mitigation (CRM).

The paper attempts to clarify the PRA’s expectations regarding the eligibility of guarantees as unfunded credit protection under the capital requirements regulations.

The proposal raises a number of serious concerns and may not reflect how banks, insurers, ECAs and legal counsel have either applied, or understood, the relevant rules up until now. There is widespread concern among lenders, insurers and UK exporters that the proposed clarification will render ineligible CRMs which are widely used to support trade and export finance.


Interested in finding out more?
Ask the analyst

You might also like

20 February 2024

Biden takes a pause

The pause on permitting for some US LNG projects is causing a political stink. But beyond the screams from the fossil fuel lobbyists, what immediate impact on the US LNG...

20 February 2024

Corporate perspectives: Patience is a virtue for Elecnor's...

It’s still positive, and the benefits of the changes in the OECD Arrangement are already showing, says Angela Perez, head of structured finance at Spanish infrastructure and...