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Coronavirus and financial services

Guidance and insights from ICAEW, regulators and other resources on how the financial services sector is responding to the coronavirus COVID-19 pandemic.

ICAEW insights

The gender pension gap


Ros Urwin is joined by a panel of experts to discuss the gender pension gap, a problem that is related to the gender pay gap but has its own, negative characteristics.

Government Covid support schemes: who pays?

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Laura Miller looks at the fine print for government lending schemes and asks who will actually pay for the coronavirus loans across a range of outcomes.

External providers of finance take comfort in robust numbers


The chartered accountancy profession plays an intrinsic role in supporting the collection of information that underpins access to finance, especially for small and medium-sized businesses, writes David Petrie, ICAEW Head of Corporate Finance.

PRA targets post-pandemic recovery strategy

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The Prudential Regulation Authority is continuing work on managing changes to legislation after the EU exit, writes Brian Cantwell.

Banking: It’s the letter K


The UK is destined for a K-shaped economic recovery, with the benefits and downsides split between different businesses and sectors, but, finds Daniel Lanyon, the divergence is very much uncharted territory.

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Guidance from regulators

FCA information for firms on coronavirus (Covid-19) response

FCA 31-03-2020

Regularly updated page collecting the latest news and information for financial services firms from the FCA, with links to specific guidance. The page covers the FCA's expectations of payment and retail banking firms; SM&CR responsibilities; regulatory change; impact on consumers; insurance products; mortgages; unsecured debt products; access to cash; operational resilience; market trading and reporting; delayed consultation papers and calls for input; delays to publications and other activity.

Business loans to which the Coronavirus Business Interruption Loan Scheme applies

FCA 20-03-2020

Guidance from the FCA for firms participating in the government's Coronavirus Business Interruption Loan Scheme on assessing the affordability of loans, stating that lenders may take into account appropriate evidence (including historic trading figures as well as future forecasts) and that lenders should consider deferring repayments if forecast income does not materialise.

Insurance and coronavirus (Covid-19): our expectations of firms

FCA 31-03-2020

Guidance from the FCA for insurance firms highlighting specific issues regarding operational resilience and business continuity, travel insurance, motor and home insurance, guidance on MOTs, private medical insurance, product suspension, renewals, mid-term adjustments, and expectations of brokers. It reminds insurers to consider very carefully the needs of their customers and show flexibility in their treatment of them.

Mortgages and coronavirus: our guidance for firms

FCA 25-03-2020

Guidance from the FCA for mortgage lenders, mortgage administrators, home purchase providers and home purchase administrators. The advice focuses on payment holidays and repossessions, stating that lenders should grant customers experiencing difficulties a payment holiday for an initial three-month period and ensure that there is no additional fee or charge (other than additional interest) as a result of the payment holiday.

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