Covid-19 regulator update 24 March

Late on 23 and on 24 March:

• PRA announced amendments to regulatory reporting for insurers in response to EIOPA’s recommendations. There will be between 2-8 weeks’ delay for most aspects of harmonised regulatory reporting for year ends of between 31 December 2019 and before 1 April 2020, with a 2019 regulatory supervisory report no longer being required. Firms can submit the required reports any time between the original submission date and the latest permitted date;
• the FPC has summarised actions taken in March and previously reported on; and
• BoE and the major banks published a joint statement committing to help businesses and households.