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
Previous ArticleEBA Publishes Report on Assessment of European Secured Notes
HKMA announced the publication of a report on fintech adoption and innovation in the banking industry in Hong Kong.
BIS published a working paper that examines the drivers of cyber risk, especially in context of the cloud services.
ECB launched consultation on a guide specifying how the Banking Supervision expects banks to consider climate-related and environmental risks in their governance and risk management frameworks and when formulating and implementing their business strategy.
ECB published an opinion (CON/2020/16) on amendments to the prudential framework in EU in response to the COVID-19 pandemic.
EBA published a report that examines the interlinkages between recovery and resolution planning under the Bank Recovery and Resolution Directive (BRRD).
SRB published the final Minimum Requirements for Own Funds and Eligible Liabilities (MREL) policy under the Banking Package.
EIOPA published its risk dashboard based on Solvency II data from the fourth quarter of 2019.
MNB published a statement on loan payments post the announced moratorium, in addition to a set of new questions and answers (Q&A) on supervisory measures and requirements announced amid COVID-19 pandemic.
EBA updated the Single Rulebook question and answer (Q&A) tool for banks.
US Agencies (FDIC, FED, and OCC) published an interim final rule that temporarily revises the supplementary leverage ratio calculation for depository institutions.