Bulletin du 3e trimestre 2019 de la banque d’Angleterre : « How Banks are authorised in the UK »
Résumé : Le document élaboré par la Bank of England est intéressant. Il rappelle certains points qui à leur lecture apparaissent évidents mais peuvent facilement être oubliés, points qui de surcroît sont également valables en Suisse.
Ainsi, le processus conduisant la constitution et à la surveillance d'une banque doit être robuste et sérieux pour inspirer la confiance du public. La démarche n'est pas aisée et avant de déposer une demande d'autorisation, il est nécessaire de bien comprendre ce que l'autorité attend. Celle-ci dispose toujours d'une marge d'appréciation importante.
Le modèle d'affaires envisagé par la banque est important : l'établissement doit être à même d'être profitable en respectant des exigences de plus en plus importantes imposées à la deuxième et à la troisième ligne de défense. Dans ce contexte, l'autorité va s'intéresser à la clientèle visée pour comprendre comment la banque va vouloir la servir. Le modèle économique ne peut être ignoré. En Suisse, la préparation d'un budget réaliste est essentielle. Une banque non profitable va attirer des mauvais clients et avoir des mauvais dirigeants.
A la p. 10 sont contenues les indications principales qui doivent être fournies pour la constitution d'un établissement, informations parfaitement pertinentes pour la Suisse :
« When prospective banks are being assessed, regulators consider a wide range of factors including:
- the business plan: including the types of business the firm intends to carry out, how it will make money, and the viability of the plan ;
- financial resources, such as financial projections, capital and liquidity strategy and how regulatory requirements will be met ;
- sources of funding/proposed funding model, where is the funding coming from ;
- proposed owners and controllers ;
- corporate governance, such as the structure, board, senior management and governance arrangements ;
- risk management and control framework ;
- customer journey, including products, pricing, complaints handling and on-boarding arrangements ;
- outsourcing arrangements ;
- IT infrastructure and systems ;
- operational and regulatory policies and procedures ;
- recovery and resolution, as appropriate ;
- business continuity plans ;
- and views of the home-state supervisor (if applicable). »
On rappellera par ailleurs qu'au Royaume-Uni des discussions intenses ont eu lieu pour se demander ce qu'il fallait faire pour ouvrir le marché à de nouvelles banques. De nouveaux établissements sont utiles parce qu'ils contribuent à un concurrence saine sur le marché.
À relever les indications utiles en p. 3 qui permettent de rappeler l'existence de divers acteurs sur le marché, acteurs dont l'activité est semblable à celle des banques tout en n'étant pas des banques :
« Examples of firms similar to banks :
Some other firms might at first glance seem very similar to banks, providing similar types of services to consumers and businesses. While similar to banks, the types of firms listed below either differ in their characteristics or do not carry out the activity of accepting deposits. This means they are not banks and must not call themselves banks.
Credit unions : Not-for-profit financial firms owned and controlled by their customers. They can accept deposits, offer savings, lending and other services to customers that meet criteria set out in a ‘common bond’ — such as living and working in a particular area or working for a certain employer. There are limitations to the extent of business they can undertake and they also have different regulatory requirements compared to banks. A credit union requires authorisation by the PRA and FCA, but the requirements are generally simpler than for a bank. Eligible deposits held by UK credit unions are protected by the Financial Services Compensation Scheme (FSCS).
Building societies : Mutual institutions whose principal purpose must be to make loans that are secured on residential property and are funded substantially by their members. Building societies can accept deposits and carry out a wide range of other activities, including other types of lending, investment advice and insurance mediation services, while subject to certain limitations on their business, funding and treasury activities. Building societies also require authorisation by both the PRA and FCA. Eligible deposits held by UK-authorised building societies are protected by the FSCS.
Loan-based crowdfunding : Where lenders are matched to borrowers, and enter into a loan agreement, without involving traditional financial firms such as banks. Lending is done through online marketplaces or platforms, with the firms that operate these platforms charging fees to cover arrangement and ongoing administration costs (these firms are usually responsible for collecting interest and capital repayments on the loans). This activity is regulated by the FCA if it involves peer-to-peer, peer-to-business or business-to-peer lending. These firms do not accept deposits and their customers are not FSCS protected.
Electronic money institutions (EMIs) : EMIs take money and store it electronically so their customers can use it to make payments. They differ from banks because they do not lend the money they take from their customers and the electronic money they take is excluded from the definition of accepting deposits. Money taken by EMIs is not protected by the FSCS if the EMI fails. Instead, EMIs protect customer money either by segregating it from the firm’s own money and placing it in a safeguarded account with a regulated bank or the Bank of England, by investing it in secure, liquid assets and placing them with an authorised custodian, or by guaranteeing it with an approved insurance policy. While these arrangements should provide significant assurance, they mean that, if an EMI fails, there is a greater risk of customers not being paid back in full and/or having to wait longer than seven days to get their money back. EMIs are authorised by the FCA and are subject to a different regulatory regime from banks and different authorisation requirements and threshold conditions.
Payment institutions (PIs) : PIs provide payment services that allow transactions to take place between different parties. This includes allowing shops to accept payments through credit and debit cards and allowing money to be transferred between bank accounts or overseas. PIs require authorisation (smaller PIs can choose registration instead of authorisation) from the FCA. These firms do not accept deposits and their customers are not FSCS protected. »
S'agissant du nombre de banques on peut lire en p. 4 :
« Between April 2013 (when the PRA and FCA were created) and September 2019, 46 new banks have been authorised in the UK, an increase from an average of 4.5 in the previous 4 years to an average of around 7 a year. There is a current population of around 150 UK-incorporated banks and 85 branches of non-EEA firms. The newly authorised banks since April 2013 split between 19 domestic UK firms, three new UK ring-fenced banks (authorised in 2017 as a result of the structural reform changes), and 24 subsidiaries and branches of foreign firms wanting to do business in the UK.... Around 40 firms have requested cancellation of their authorisation as a bank in this period. »
Sur les guides pour la constitution de banques, voir :