2013年-FSB全球金融稳定委员会_Assessment_Methodology_for_Key_Attributes_of_Effective_Resolution_Regimes_for_Financial_Institutions_56页_695kb

UK Implementation of G20/FSB Recommendations Summary

Core Content Overview

The 2013 IMN Survey outlines the United Kingdom's progress in implementing G20/FSB recommendations aimed at strengthening the financial system. The survey covers a range of topics including regulatory perimeter, hedge funds, securitisation, supervision, and consumer protection. It provides an overview of current measures, next steps, and references to relevant documents and international standards.

Main Recommendations and Progress

I. Refining the Regulatory Perimeter

• Recommendation: Review and adapt the regulatory framework to include previously unregulated entities such as shadow banking institutions.
• Progress: Implementation is ongoing or completed. The Financial Policy Committee (FPC) has the statutory authority to recommend changes to the regulatory perimeter, and the Bank of England, PRA, and FCA have responsibilities for financial stability.
• Next Steps: Continued collaboration with EU and international bodies to balance shadow banking risks with proportionate regulation.

II. Hedge Funds

• Recommendation: Registration, appropriate disclosures, and oversight of hedge funds.
• Progress: Implementation is ongoing or completed. Hedge fund managers are supervised by the FCA, and a biannual survey is conducted to assess systemic risks.
• Next Steps: The PRA plans to continue the hedge fund as counterparty survey on a semi-annual basis.

III. Securitisation

• Recommendation: Improve risk management and enhance disclosure of securitised products.
• Progress: Implementation is ongoing or completed. The UK implemented CRD2 securitisation requirements through BIPRU 9.15 by the end of 2010.
• Next Steps: The PRA will continue to supervise the market and develop internal models for structured products in anticipation of Solvency 2 implementation.

IV. Enhancing Supervision

• Recommendation: Consistent and consolidated supervision of systemically important financial institutions (SIFIs).

• Progress: Implementation is ongoing or completed. The PRA has established group-wide supervision for financial conglomerates and is in the process of implementing EU requirements.

• Next Steps: Implementation of CRD4 and related standards for G-SIBs and D-SIBs by 2016.

• Recommendation: Establish supervisory colleges and conduct risk assessments for cross-border firms.

• Progress: Implementation is ongoing or completed. The FSA had established college arrangements by mid-2009, and these are now managed by the PRA.

• Next Steps: Continued review and development of information sharing arrangements and memoranda of understanding with host supervisors.

• Recommendation: Strengthen supervisory resources and effectiveness.

• Progress: Implementation is ongoing or completed. A new supervisory architecture was introduced in April 2013, and supervisory resources have increased since 2009.

• Next Steps: Ongoing engagement with FSB colleagues and EU regulators to enhance supervisory practices.

Key Information

• The UK has been actively working with international bodies such as the FSB, BCBS, and IOSCO to align its regulatory practices with global standards.
• The FPC, PRA, and FCA play key roles in ensuring financial stability and implementing regulatory reforms.
• The implementation of CRD2 and CRD4 has been a major focus, with specific measures introduced to strengthen the regulatory perimeter and supervision of financial institutions.
• Information sharing and supervisory cooperation are emphasized, particularly through supervisory colleges and international agreements.
• The UK continues to monitor and assess risks posed by financial innovation, with a focus on improving risk management and oversight mechanisms.

References and Documents

• Financial Stability Report (2012): Link
• CRD2 Implementation: Link
• PRA Approach Documents: [Banking](http://www.bankofengland.co.uk/publications/Documents/praapproach/bankingapp r1304.pdf), [Insurance](http://www.bankofengland.co.uk/publications/Documents/praapproach/insuranceap pr1304.pdf)
• Framework for G-SIBs (2013): Link
• FSB Recommendations and Documents: Link

Conclusion

The UK has made significant progress in implementing G20/FSB recommendations, focusing on regulatory perimeter refinement, enhanced supervision, and improved risk management. The country continues to align its practices with international standards and is committed to maintaining the integrity and stability of its financial system through ongoing regulatory reforms and international cooperation.