BoE published an amended Branch Return Form. BoE is planning to consult on the proposed change to the Branch Return Form. This change asks firms to indicate the accounting standard applied by them in cell H30 in the Cover tab, as shown in the amended form.
Unless and until the relevant rule is amended, the form in the PRA Rulebook remains unchanged and, therefore, use of the amended form and provision of the additional information is not mandatory. As this change is an addition to the existing form, it is considered that a firm’s use of the amended form will comply with the requirement in the PRA Rulebook to provide information in accordance with the existing Branch Return Form.
Related Link: Notification
Keywords: Europe, UK, Banking, Reporting, Branch Return Form, PRA Rulebook, BoE
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BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).
US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.
PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.
EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).
FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.
IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.
FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).
EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.
ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.
IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.