PRA Amends Rulebook and Capital+ and RFB Reporting Templates
PRA published a policy statement (PS27/19) that provides final rules amending the Regulatory Reporting Part of the PRA Rulebook, Capital+ reporting templates (PRA101 and PRA102), and ring-fenced body (RFB) reporting templates (RFB003, RFB004, and RFB008). The proposals on these amendments were covered in Chapter 4 of an occasional consultation paper (CP25/19). CP25/19 proposed minor amendments to the PRA Rulebook Parts, supervisory statements, statements of policy (SoPs), and the relevant templates. The consultation period for Chapter 4 of CP25/19 closed on November 18, 2019. The policy presented in PS27/19 will take effect on March 01, 2020 for Capital+ reporting templates and on June 01, 2020 for ring-fenced body reporting templates.
PRA will also be updating links to the templates in appendices to the supervisory statement (SS34/15) on guidelines for completing regulatory reports. PS27/19 is relevant to UK banks, building societies, and PRA-designated investment firms. PRA has highlighted that version 3.3.0 of the BoE Banking XBRL taxonomy, which was published on November 28, 2019, contains minor presentational differences to the templates published in PS27/19. These differences will be corrected in a future taxonomy update.
The policy set out in PS27/19 has been designed in the context of the current UK and EU regulatory framework. PRA will keep the policy under review to assess whether any changes would be required due to changes in the UK regulatory framework, including those arising once any new arrangements with EU take effect. In the event that UK leaves EU with no implementation period in place, PRA has assessed that the policy would not need to be amended under the EU (Withdrawal) Act 2018.
Related Links
Effective Date: March 01, 2020 (PRA101 and PRA102); June 01, 2020 (RFB003, RFB004, and RFB008)
Keywords: Europe, UK, Banking, Securities, Reporting, PRA Rulebook, Capital+, Ring-Fencing, RFB, CP25/19, COREP, FINREP, PS27/19, CRR, PRA
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
David Fihrer
Skilled life insurance actuary; subject matter expert on IFRS 17 and source of earnings
Related Articles
BoE Seeks Information Before Migrating Statistical Reporting to BEEDS
The Bank of England (BoE) published the Statistical Notice 2021/09 requiring additional information from firms and software vendors to assist in the onboarding and testing phases for migrating statistical reporting to the BEEDS portal.
FCA Publishes Final Rules on Investment Firms Prudential Regime
The Financial Conduct Authority (FCA) published the final rules on the Investment Firms Prudential Regime (IFPR) to streamline and simplify the prudential requirements for solo-regulated UK firms authorized under the Markets in Financial Instruments Directive (MiFID).
EBA Finalizes Standards on Alternative SA for Market Risk
The European Banking Authority (EBA) published the final draft regulatory technical standards on gross jump-to-default amounts and on residual risk add-on under the Capital Requirements Regulation or CRR.
CFRF Publishes Guides to Manage Financial Risks from Climate Change
The working groups of the Climate Financial Risk Forum (CFRF) published a second round of guides (or Session 2 guides), written by the industry for the industry, to help financial firms manage climate-related financial risks.
PRA Finalizes Policy for Non-Performing Exposure Securitizations
The Prudential Regulation Authority (PRA) published the final Policy Statement PS24/21 that contains the new Non-Performing Exposures Securitization Part of the PRA Rulebook and an updated Supervisory Statement SS10/18 on the general requirements and capital framework with respect to securitizations.
BIS to Launch Asian Green Bond Fund Early Next Year
The Bank for International Settlements (BIS) announced the development of an Asian Green Bond Fund, in collaboration with the development financing community, to channel global central bank reserves to green projects in Asia Pacific.
FSOC Report Issues Recommendations to Address Climate Risks
The Financial Stability Oversight Council (FSOC) released a report in response to the U.S. President's Executive Order on climate-related financial risk.
BIS Paper Mulls Policies to Alleviate Challenges Posed by Big Techs
The Bank for International Settlements (BIS) published a paper that examines the business models and the associated risks posed by big technology firms foraying into financial services sector.
EBA Updates Filing Rules for Supervisory Reporting
The European Banking Authority (EBA) published version 5.1 of the filing rules for supervisory reporting.
ECB Amends Guideline on Procedures for Collection of AnaCredit Data
The European Central Bank (ECB) Guideline 2021/1829 on the procedures for the collection of granular credit and credit risk data has been published in the Official Journal of European Union.
