Featured Product

    PRA Consults on Updates to Pillar 2 Reporting Requirements

    December 06, 2017

    PRA published the consultation paper CP25/17, which proposes updates to the Pillar 2 reporting requirements. PRA is also proposing to update the reporting instructions in the supervisory statement SS32/15, which relates to Pillar 2 reporting, including instructions for completing data items FSA071 to FSA082, along with the Statement of Policy titled “The PRA’s methodologies for setting Pillar 2 capital.” The consultation will close on March 06, 2018, following which PRA will issue the final policy that is proposed to be effective from October 01, 2018.

    The proposals in CP25/17 would make changes to certain Parts of the PRA Rulebook, including Glossary, Regulatory Reporting, Reporting Leverage Ratio, and Reporting Pillar 2. This consultation is relevant to banks, building societies, and PRA-designated investment firms and it mainly proposes the following:

    • The first proposal is to introduce a new data item (PRA111) to capture stress testing data, which is currently included in Internal Capital Adequacy Assessment Process (ICAAP) documents of firms. The purpose of this proposal is to to bring greater transparency, clarity, standardization, and comparability in stress test data provided along with the ICAAP documents. It would also decrease the operational risks associated with the manual capturing of stress test data for analysis.
    • PRA proposes reduction in the frequency of reporting of the data items in the Reporting Pillar 2 Part of the PRA Rulebook (Pillar 2 data items) for some firms. The purpose this proposal is to make the PRA analysis of Pillar 2 risks more effective and to take a more proportionate approach.
    • The proposal is to consolidate definitions in several reporting Parts of the PRA Rulebook into the Glossary.The proposed consolidation of the definitions in several reporting Parts is intended to make it easier for firms to use the PRA Rulebook.

     

    Related Link: Consultation, Templates, and Instructions 

    Comment Due Date: March 06, 2018

    Effective Date: October 01, 2018

    Keywords: Europe, UK, Banking, Pillar 2, ICAAP, SS32/15, Stress Testing, Reporting, PRA

    Featured Experts
    Related Articles
    News

    EBA Publishes Phase 2 of Technical Package on Reporting Framework 2.10

    EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.

    July 10, 2020 WebPage Regulatory News
    News

    FASB Proposes to Delay Implementation of Insurance Contracts Standard

    FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).

    July 09, 2020 WebPage Regulatory News
    News

    APRA Updates Regulatory Approach to Loan Deferrals Amid COVID Crisis

    APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.

    July 09, 2020 WebPage Regulatory News
    News

    BCBS and FSB Set Out Recommendations for Benchmark Transition

    BCBS and FSB published a report on supervisory issues associated with benchmark transition.

    July 09, 2020 WebPage Regulatory News
    News

    IAIS Sets Out Recommendations for Benchmark Transition for Insurers

    IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.

    July 09, 2020 WebPage Regulatory News
    News

    ESMA Updates Reporting Manual on European Single Electronic Format

    ESMA updated the reporting manual on the European Single Electronic Format (ESEF).

    July 09, 2020 WebPage Regulatory News
    News

    EBA Calls on Resolution Authorities to Consider Impact of COVID Crisis

    EBA published a statement on resolution planning in light of the COVID-19 pandemic.

    July 09, 2020 WebPage Regulatory News
    News

    BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework

    BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework

    July 08, 2020 WebPage Regulatory News
    News

    ECB Guideline on Materiality Threshold for Credit Obligations Past Due

    ECB published a guideline (2020/97), in the Official Journal of European Union, on the definition of materiality threshold for credit obligations past due for less significant institutions.

    July 08, 2020 WebPage Regulatory News
    News

    FED Temporarily Revises FR Y-14 With Respect to PPP and CARES Act

    FED temporarily revised the capital assessments and stress testing reports (FR Y-14A/Q/M) to implement the changes in response to the COVID-19 pandemic.

    July 08, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5458