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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

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