July 20, 2017

The PRA published two policy statements (PS19/17 and PS20/17) relevant to the banking and insurance sectors. These policy statements address changes to guidelines for completing regulatory reports, including reporting templates and instructions. The PRA also updated SS9/13, along with SS34/15, following PS19/17 and PS20/17.

PS19/17 provides feedback to responses to the consultation paper CP2/17. It also includes the final rules and updated supervisory statements SS34/15 titled “Guidelines for Completing Regulatory Reports,” and SS9/13 titled “Securitization,” along with the ring-fenced bodies' reporting templates and instructions, specifically RFB001 to RFB008. This statement is relevant to all PRA-authorized firms. The PRA is still considering the response received to Chapter 2 on "Credit risk mitigation – secured guarantees" and will provide feedback in a separate PRA publication. Additionally, PS20/17 provides feedback to responses to consultation paper CP6/17. It contains final rules, updated SS34/15, and updated PRA101 to PRA103 (Capital+) templates and instructions, along with instructions for PRA108. It is relevant to PRA-authorized UK banks, building societies, PRA-designated investment firms, and non-European Economic Area banks authorized to accept deposits through a branch in the United Kingdom.

 

The PRA also updated SS34/15which contains guidelines for completing regulatory reports and is addressed to all PRA-regulated firms that are required to submit supervisory reports under the Regulatory Reporting, Close Links, and Change in Control Parts of the PRA Rulebook. It sets out the PRA’s expectations on how firms should complete the data items and returns required by those Parts. Additionally, SS9/13 was updated following PS19/17 and it is aimed at firms to which Capital Requirements Directive (CRD IV) applies. It sets out the PRA’s expectations of firms in respect of securitization and supplements the rules in the Benchmarking of Internal Approaches and Credit Risk Part of the PRA Rulebook.


Related Link: Press Release

Keywords: Europe, United Kingdom, Banking, Insurance, PRA, Reporting Requirements, Securitization, Securities

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