Featured Product

    PRA Updates Policy on Liquidity Reporting Under FSA047/048 and PRA110

    January 08, 2019

    PRA published the policy statement PS1/19 that provides feedback to responses to the consultation paper CP22/18 titled "Liquidity reporting: FSA047 and FSA048" and the proposal in CP16/18, which intended to correct the level of consolidation of the PRA110 reporting requirements. It also contains the PRA’s final policy specifying amendments to the Regulatory Reporting Part of the PRA Rulebook (Appendices 1 and 2), along with the updated supervisory statement SS34/15 on guidelines for completing regulatory reports (Appendix 3). PS1/19 is relevant to banks, building societies, and PRA-designated investment firms.

    SS34/15 was updated following the finalization of PS1/19 to reflect the extension to the FSA047 and FSA048 end date from June 30, 2019 to 31 December 2019 in Chapter 2 and Appendix 1.The changes to SS34/15 (Appendix 3) will take effect from the date of publication of PS1/19. The final policy confirms: 

    • Delay in terminating the FSA047 and FSA048 for six months from July 01, 2019 
    • Reduction in the reporting frequency of the FSA047 and FSA048 liquidity reports to align with that of the PRA110 liquidity report, in cases where it would otherwise differ, from July 01, 2019
    • Extension of the submission deadline for firms that would report PRA110 on a weekly basis in business-as-usual conditions from one business day to two business days from July 01, 2019 until October 31, 2019

    PRA had received six responses to CP22/18 and no comments were received in response to the proposal in CP16/18 to correct the applicable consolidation levels at which PRA110 will be reported. All six respondents noted, in qualitative terms, the additional reporting burden that extending the requirement to report the FSA047 and FSA048 for a further six months would entail. PRA has considered this feedback and has decided not to delay implementing the PRA110 report or to amend the associated reporting requirements. Following consideration of responses to CP22/18, PRA has made one change to PRA110 remittance dates during the dual reporting period and one clarification to reporting expectations in stress. The amendments to the Regulatory Reporting Part will be implemented by repealing instrument PRA 2018/3 (Appendix 1) and issuing a new instrument (Appendix 2).

    The rules will take effect from the dates outlined in the new instrument. Six months remain until the implementation of PRA110 on July 01, 2019. PRA is reminding firms taking part in interim reporting to refer to the most recent questions and answers on the template and instructions and submit any questions that are not covered. PRA expects all other firms to continue to familiarize themselves with the policy, template and instructions, including the Q&As, to prepare for implementation on July 01, 2019. 

     

    Related Links

    Keywords: Europe, UK, Banking, Reporting, PRA110, Liquidity Risk, Pillar 2, PRA

    Featured Experts
    Related Articles
    News

    EC Regulation Sets Out Standards for Reporting and Disclosure of MREL

    EC published the Implementing Regulation 2021/763 that lays down implementing technical standards for supervisory reporting and public disclosure of the minimum requirement for own funds and eligible liabilities (MREL).

    May 12, 2021 WebPage Regulatory News
    News

    EBA Report Notes Loan Origination Should Remain in Supervisory Focus

    EBA published a report that examines the convergence of prudential supervisory practices in 2020 and offers conclusions of the EBA college monitoring activity.

    May 12, 2021 WebPage Regulatory News
    News

    APRA Decides to Standardize Submission Date for Quarterly Reporting

    APRA announced the standardization of quarterly reporting due dates for authorized deposit-taking institutions.

    May 11, 2021 WebPage Regulatory News
    News

    ECB Working Group Publishes Recommendations on EURIBOR Fallbacks

    The private sector working group of ECB on euro risk-free rates published the recommendations to address events that would trigger fallbacks in the Euro Interbank Offered Rate (EURIBOR)-related contracts, along with the €STR-based EURIBOR fallback rates (rates that could be used if a fallback is triggered).

    May 11, 2021 WebPage Regulatory News
    News

    Bundesbank Publishes Supporting Documentation for Reporting by Banks

    Bundesbank published a list of "EntryPoints" that are accepted in its reporting system; the list provides taxonomy version and name of the module against each EntryPoint.

    May 11, 2021 WebPage Regulatory News
    News

    EBA Publishes Phase 1 of Reporting Framework 3.1

    EBA published the phase 1 of its reporting framework 3.1, with the technical package covering the new reporting requirements for investment firms (under the implementing technical standards on investment firms reporting).

    May 10, 2021 WebPage Regulatory News
    News

    IOSCO Sees Support for Mandatory Sustainability Reporting

    The Sustainable Finance Taskforce of IOSCO held two roundtables, with global stakeholders, on the IOSCO priorities to enhance the reliability, comparability, and consistency of sustainability-related disclosures and to collect views on the practical implementation of a global system architecture for these disclosures.

    May 10, 2021 WebPage Regulatory News
    News

    APRA to Finalize Capital Adequacy Standard Revisions by January 2022

    Asia Pacific Australia Banking APS 111 Capital Adequacy Regulatory Capital Basel RBNZ APRA

    May 10, 2021 WebPage Regulatory News
    News

    ESMA Issues Guidelines on Outsourcing to Cloud Service Providers

    ESMA published the final guidelines on outsourcing to cloud service providers.

    May 10, 2021 WebPage Regulatory News
    News

    EBA Publishes Data on Deposit Guarantee Schemes

    EBA published annual data for two key concepts and indicators in the Deposit Guarantee Schemes (DGS) Directive—available financial means and covered deposits.

    May 10, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6967