General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
July 06, 2017

The PRA published a policy statement PS18/17 that provides feedback to responses to consultation paper CP46/16 titled “IFRS 9: changes to reporting requirements.” PS18/17 sets out the final rules intended to update regulatory reporting requirements and expectations, in light of the introduction of International Financial Reporting Standard 9 (IFRS 9) from January 01, 2018. The PRA also updated the supervisory statement SS34/15, following PS18/17, with the effective date for the updates being January 01, 2018.

PS18/17 contains the final amendments to the Regulatory Reporting Part of the PRA Rulebook (Appendix 1) and final amendments to Supervisory Statement SS34/15 titled “Guidelines for completing regulatory reports” (Appendix 2), which implements the proposals in the consultation paper. The PRA had received seven responses to CP46/16. Respondents were generally supportive of the proposals but did raise a number of issues and questions regarding the details of the templates. The responses are discussed in PS18/17 by the following topics: granularity of reporting templates; implementation timeline; and reporting on an individual or consolidated basis. Following consideration of respondents’ comments, the PRA has made one material change to the rules as consulted. The PRA has also made a minor change to take account of firms that are implementing IFRS 9 in advance of January 01, 2018. Responses are set out in Chapter 2.


PS18/17 should be read along with the Regulatory Reporting Part of the PRA Rulebook. The amendments to the Regulatory Reporting Part of the PRA Rulebook and updates to SS34/15 set out in this PS18/17 will take effect from January 01, 2018. Chapter 2 and Appendices 1 to 4 of SS34/15 took effect from January 01, 2016, except PRA101-103, which takes effect from October 01, 2017 and PRA104-108, which takes effect from January 01, 2018. Appendix 2 took effect from July 01, 2017; Appendices 5 to 7 took effect from March 07, 2016; Appendix 8 takes effect from January 01, 2018; Appendix 9 takes effect from January 01, 2019; and Appendix 10 takes effect from January 01, 2019. PS18/17 is relevant to the UK banks and building societies. As set out in CP46/16, firms are required to submit their templates 30 business days after the end of their first reporting period. Firms should use the EBA taxonomy (initially version 2.7) to report their templates and adhere to the EBA filing and validation rules, which apply to the subset of templates required. Further details on the implementation timeline are available in Chapter 2, including details on rule modifications and notifications available for firms that do not have an accounting year end of December 31 and UK banks that plan to implement IFRS 9 in advance of January 01, 2018.


Related Links

IFRS 9: Changes to Reporting Requirements: PS18/17 (PDF)

PRA Rulebook: CRR Firms: IFRS 9 Regulatory Reporting Instrument 2017 (PDF) 

Guidelines for Completing Regulatory Reports: SS34/15 Update (PDF)

IFRS 9: changes to reporting requirements: CP46/16 (PDF)

Keywords: Europe, United Kingdom, PRA, IFRS 9, Reporting, PS18/17, SS34/15, Banking, Accounting

Related Articles

ECB Updates Validation Checks and List of Identifiers Under AnaCredit

ECB updated the AnaCredit validation checks (Version 1.4) and the list of national identifiers (version 2.4) for AnaCredit reporting.

March 21, 2019 WebPage Regulatory News

BCBS Publishes Results of the Basel III Monitoring Exercise

BCBS published results of the Basel III monitoring exercise based on data as of June 30, 2018.

March 20, 2019 WebPage Regulatory News

EBA, FCA, and PRA Agree on MoU Template for Supervisory Cooperation

EBA, FCA, and PRA announced that they have agreed on a template for the Memorandum of Understanding (MoU) that sets out the expectations for supervisory cooperation and information-sharing arrangements between UK and EU/European Economic Area national authorities.

March 20, 2019 WebPage Regulatory News

EBA Publishes Reports Monitoring the Implementation of Basel III in EU

EBA published two reports measuring the impact of implementing the final Basel III reforms and monitoring the implementation of liquidity measures in EU.

March 20, 2019 WebPage Regulatory News

HKMA Publishes CoP on Loss-Absorbing Capacity Requirements of Banks

HKMA issued, in relation to the Financial Institutions Resolution (Loss-Absorbing Capacity Requirements—Banking Sector) Rules (LAC Rules) a chapter of a code of practice (LAC CoP) under section 196 of the Financial Institutions Resolution Ordinance (FIRO).

March 20, 2019 WebPage Regulatory News

BCBS Publishes Results of Survey on Proportionality in Bank Regulation

BCBS published a report presenting the results of a survey conducted on proportionality practices in bank regulation and supervision.

March 19, 2019 WebPage Regulatory News

US Agencies Adopt Interim Rule to Facilitate Transfers of Legacy Swaps

US Agencies (FCA, FDIC, FED, FHFA, and OCC) are adopting and inviting comments on an interim final rule.

March 19, 2019 WebPage Regulatory News

HKMA Expects Banks to Manage Risks Related to Crypto-Asset Exposures

HKMA issued a statement announcing that it expects authorized institutions to take note of the BCBS statement on crypto-assets and its prudential expectations.

March 18, 2019 WebPage Regulatory News

SNB Issues Form on Solvency Risk of Counterparties in Interbank Sector

SNB released form (Version 5.00) and related documentation for reporting solvency risk of counterparties in the interbank sector.

March 18, 2019 WebPage Regulatory News

EIOPA Requests Data on LTG Measures from Insurers Under Solvency II

EIOPA has requested the European Economic Area insurance undertakings, which are subject to Solvency II, to provide information on the long-term guarantee (LTG) measures.

March 18, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 2769