Featured Product

    PRA Issues Further Information on Timing and Basis of PRA110 Reporting

    July 12, 2018

    PRA has provided additional information on the timing and basis of interim reporting for the introduction of PRA110, following its e-mail to the participating firms. Data submissions for the testing period will commence with end-October 2018 data being collected in November 2018.

    During this time, PRA110 should be submitted with the existing FSA047 and FSA048 returns. Firms currently reporting FSA047 and FSA048 on a monthly basis should report the PRA110 as at the calendar month end. The submission is due within 15 business days of the reporting date. Firms currently reporting FSA047 and FSA048 on a weekly basis should report the PRA110 once per month, with reporting data as at the last Friday of the month (in line with the FSA047 and FSA048 returns). The submission is due within 15 business days of the calendar month end. Firms should submit the PRA110 on the following reporting basis:

    • Submit on an all-currency basis and for the three single largest material currencies, or fewer if appropriate
    • Submit PRA110 only for material UK subsidiaries (these will be selected in consultation with firms’ supervisors)

    This will enable firms to assess their own internal processes for the production of the PRA110 returns; assess that in-scope submissions pass the Gabriel blocking validation rules; and demonstrate the accuracy of their PRA110 data ahead of FSA047 and FSA048 being switched off. To assist firms with their submission of PRA110, PRA published v3.0.0 of its XBRL taxonomy, data point model (DPM), and related technical artefacts on April 20, 2018. PRA intends to have firms submit the PRA110 returns in the XBRL format via Gabriel.

    In Policy Statement 2/18 titled “Pillar 2 liquidity,” PRA introduced methodologies for the assessment of Pillar 2 liquidity risks and a cash flow mismatch risk (CFMR) framework. PRA110 is the new reporting template associated with the CFMR. On January 17, 2018, PRA set out that, due to the postponement of the introduction of the PRA110 from January 01, 2019 to July 01, 2019, the interim reporting period would similarly be postponed until September 2018 at the earliest. Specific firms have been contacted to let them know of the PRA intention to commence interim test reporting of the PRA110 and to request the participation of these firms.

     

    Related Link: PRA Statement and Related Documents

    Keywords: Europe, UK, Banking, Reporting, PRA110, Cash Flow Mismatch Risk, PRA

    Featured Experts
    Related Articles
    News

    HKMA Urges Early Action for Adherence to IBOR Fallbacks Protocol

    HKMA urged authorized institutions to take early action to adhere to the IBOR Fallbacks Protocol, which ISDA is expected to publish soon.

    October 16, 2020 WebPage Regulatory News
    News

    FSB Sets Out Roadmap for Transition to Alternative Reference Rates

    FSB published a global transition roadmap for London Inter-bank Offered Rate (LIBOR).

    October 16, 2020 WebPage Regulatory News
    News

    HM Treasury Publishes Response to Proposal on BRRD2 Transposition

    HM Treasury published a document that summarizes the responses received from a consultation on the approach of UK to transposition of the revised Bank Resolution and Recovery Directive (BRRD2).

    October 15, 2020 WebPage Regulatory News
    News

    HM Treasury Publishes Response to Proposal on CRD5 Transposition

    HM Treasury published the government response to the feedback received on the consultation for updating the prudential regime of UK before the end of the Brexit transition period.

    October 15, 2020 WebPage Regulatory News
    News

    PRA Updates Supervisory Statement on Counterparty Credit Risk

    PRA published the final policy statement PS22/20, which contains the updated supervisory statement SS12/13 on counterparty credit risk.

    October 14, 2020 WebPage Regulatory News
    News

    FSB Publishes Update on Work to Address Market Fragmentation

    FSB published an update on its work to address market fragmentation. FSB is working in this area in collaboration with the other standard-setting bodies.

    October 14, 2020 WebPage Regulatory News
    News

    EBA Proposes to Revise Guidelines on Incident Reporting Under PSD2

    EBA proposed revisions to the guidelines on major incident reporting under the second Payment Service Directive (PSD2).

    October 14, 2020 WebPage Regulatory News
    News

    EBA Finalizes Standards for Prudential Treatment of Software Assets

    EBA published the final draft regulatory technical standards specifying the methodology for prudential treatment of software assets by banks.

    October 14, 2020 WebPage Regulatory News
    News

    FSB Publishes Roadmap on Cross-Border Payments, Report on Stablecoins

    FSB published a report presenting the roadmap to enhance cross-border payments by providing a high-level plan that sets ambitious but achievable goals and milestones in the five focus areas.

    October 13, 2020 WebPage Regulatory News
    News

    EIOPA Urges Insurers to Prepare for End of Brexit Transition

    In a recent communication, EIOPA urged the insurance sector to complete its preparations for the end of the Brexit transition period on December 31, 2020.

    October 13, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5959