Bank supervision and Know-your-customer: Difference between pages

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In the UK, the Prudential Regulation Authority (PRA) is the body responsible for the prudential regulation and supervision of banks and similar financial firms.  
''Risk management - financial services.''


The PRA is part of the Bank of England.
(KYC).  


The underlying basis of all anti money laundering regulations, requiring financial and other intermediaries engaged in financial transactions to rigorously check their customers’ identities.


In the Euro zone, the European Central Bank (ECB) regulates the financial stability of banks through its Single Supervisory Mechanism (SSM).


The ECB has final supervisory authority, with Euro zone member states’ national supervisory authorities providing a supporting role. The ECB directly supervises the 'most significant' banks within each Euro zone member state, with the national supervisory authority directly supervising the other (less significant) banks within its jurisdiction.
<span style="color:#4B0082">'''''KYC evolving'''''</span>


The ECB is responsible for:
:"The world of cash management and payments is evolving in response to... technological advances.
*Supervisory reviews
*On-site inspections and investigations
*Granting and withdrawing banking licences
*Assessing bank acquisitions
*Ensuring compliance with European Union prudential rules
*If required, setting higher capital requirements to counter financial risks.


:Treasurers might want to consider solutions such as... the launch of various utility products for KYC management."


In the United States, bank supervision is undertaken by the Federal Reserve System, in Australia by the Australian Prudential Regulation Authority (APRA).
:''Michelle Price, associate policy and technical director, Association of Corporate Treasurers, The Treasurer, August 2018, p24.''




== See also ==
== See also ==
* [[Australian Financial Regulation]]
* [[Anti money laundering]]
* [[Bank of England]]
* [[Customer risk]]
* [[Basel III]]
* [[KYC utility]]
* [[Capital adequacy]]
* [[Risk management]]
* [[Contingent capital]]
* [[Sanctions]]
* [[European Banking Authority]]
* [[Utility]]
* [[European Central Bank]]
* [[Euro zone]]
* [[Federal Reserve System]]
* [[Financial Conduct Authority]]
* [[Financial Services Authority]]
* [[Financial Services Committee]]
* [[Financial stability]]
* [[Fully loaded]]
* [[Home supervisor]]
* [[Host supervisor]]
* [[LCR]]
* [[NSFR]]
* [[Pillar 1]]
* [[Pillar 2]]
* [[Pillar 3]]
* [[Prudential Regulation Authority]]
* [[Resolution Authority]]
* [[Supervisory college]]
* [[Total Loss Absorbing Capacity]]
* [[Twin Peaks]]
* [[Window-dressing]]


[[Category:Long_term_funding]]
 
=== Other resources ===
 
[[Media:2015_03_Mar_-_Squeaky_clean.pdf| Squeaky Clean, The Treasurer, 2015]]
 
[[Category:Context_of_treasury]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:Compliance_and_audit]]
[[Category:Compliance_and_audit]]

Revision as of 12:52, 11 April 2021

Risk management - financial services.

(KYC).

The underlying basis of all anti money laundering regulations, requiring financial and other intermediaries engaged in financial transactions to rigorously check their customers’ identities.


KYC evolving

"The world of cash management and payments is evolving in response to... technological advances.
Treasurers might want to consider solutions such as... the launch of various utility products for KYC management."
Michelle Price, associate policy and technical director, Association of Corporate Treasurers, The Treasurer, August 2018, p24.


See also


Other resources

Squeaky Clean, The Treasurer, 2015

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