PRA is proposing (CP16/18) minor amendments to regulatory reporting. The proposals would result in changes to the Glossary, Regulatory Reporting, Reporting Pillar 2, and Close Links Parts of the PRA Rulebook (Appendix 1). The consultation is relevant to banks, building societies, PRA-designated investment firms, and dormant account fund operators. The consultation closes on October 23, 2018.
PRA also proposed amendments to reporting templates and instructions. Appendix 2 contains a mapping table, with the proposed amendments to templates and instructions contained in the Supervisory Statement SS32/15 on Pillar 2 reporting, including instructions for completing data items FSA071 to FSA082 (Appendix 3) and in SS34/15 on guidelines for completing regulatory reports (Appendix 4). The following changes are proposed to PRA reporting requirements:
- Discontinuation of Prudent Valuation Return PV001
- Changes to PRA reporting instructions to align with updated EBA requirements (RFB001, PRA110, and PRA101–PRA103)
- Amendments to Pillar 2 reporting templates and instructions to reflect their application to ring-fenced bodies (FSA071–FSA082)
- Amendments to ring-fencing reporting requirements (RFB001, RFB003, RFB004)
- Deletion of reporting requirements for dormant account fund operators
- Alignment of “data item” definitions in the PRA Rulebook
- Update of the notification form relating to reporting on an Accounting Reference Date basis
- Correction of PRA110 rules
The proposals in CP16/18 have been designed in the context of the current UK and EU regulatory framework. PRA will keep the policy under review to assess whether any changes would be required due to changes in the UK regulatory framework, including those arising once any new arrangements with the EU take effect.
Comment Due Date: October 23, 2018
Keywords: Europe, UK, Banking, Reporting, CP16/18, Pillar 2, PRA
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