Contingent Term Repo Facility and Prudential Regulation Authority: Difference between pages

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''Bank of England.''
The UK body responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms.  


(CTRF).


The Bank of England's Contingent Term Repo Facility (CTRF) is one of three key components of the liquidity insurance part its Sterling Monetary Framework (SMF).
The PRA’s objectives are:


The CTRF is designed for conditions of actual or prospective market-wide stress of an exceptional nature.
1. To promote the safety and soundness of these firms; and


2. Specifically for insurers, to contribute to the securing of an appropriate degree of protection for policyholders.


The CTRF's key features are:
*Initiated by the Bank of England.
*Flexible term.
*Bank of England reserves (effectively cash) lent against collateral.
*Auction pricing.


The PRA's responsibilities in the UK were formerly undertaken by the Financial Services Authority (FSA).


The other two key facilities in the Bank's liquidity insurance structure are the Discount Window Facility (DWF) and the Bank's Indexed Long-Term Repo (ILTR) operations.
The former FSA's other responsibilities were substantially transferred to the Financial Conduct Authority (FCA).


 
== See also ==
==See also==
* [[Financial Services Authority]]
*[[Bank of England]]
* [[Financial Conduct Authority]]
*[[Collateral]]
* [[CFTC]]
*[[Discount Window Facility]]
*[[Indexed Long-Term Repo operations]]
*[[Liquidity]]
*[[Liquidity insurance]]
*[[Official Bank Rate]]
*[[Operational Standing Facilities]]
*[[Repo]]
*[[Reserves]]
*[[Sterling Monetary Framework]]
*[[Stress]]

Revision as of 16:37, 11 April 2013

The UK body responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms.


The PRA’s objectives are:

1. To promote the safety and soundness of these firms; and

2. Specifically for insurers, to contribute to the securing of an appropriate degree of protection for policyholders.


The PRA's responsibilities in the UK were formerly undertaken by the Financial Services Authority (FSA).

The former FSA's other responsibilities were substantially transferred to the Financial Conduct Authority (FCA).

See also

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