PRA Consults on PRA110 Reporting Frequency Threshold

PRA proposes to introduce a rule to require firms with total assets of GBP 5 billion or above, calculated in accordance with Council Directive 86/635/EEC, to submit the PRA110 reporting template every business day in the event of a firm-specific liquidity stress or market liquidity stress. As a consequence of the proposed change to the reporting frequency threshold, PRA also proposes an update to the supervisory statement SS24/15 (paragraph 6.2A) to align with the proposed threshold. The proposals in CP14/19 would also amend the Regulatory Reporting Part of the PRA Rulebook (Appendices 1 and 2).

The proposals are based on the UK and EU regulatory framework as it currently stands. PRA has assessed that the proposals will be affected in case of a no-deal Brexit. A second version of the proposed rules, which includes the relevant changes related to Brexit, has been set out in Appendix 2. PRA110 will come into effect from July 01, 2019, with the frequency of submission (weekly or monthly) determined by each firm’s category. To make it easier for firms and to avoid confusion of overlapping submission dates, interim reporting will finish with the end of May data point (received June 21, 2019). PRA will not be requesting June data (which would be due in July) from any of firms participating in the interim reporting. This will be removed from the GABRIEL submission schedule.

Related Links

• Notification
• CP14/19 (PDF)
• Q&A on PRA110, Version 6 (PDF)
• Reporting of PRA110

Comment Due Date: September 27, 2019

Effective Date: May 01, 2020 (CP14/19); July 01, 2019 (PRA110)

Keywords: Europe, UK, EU, Banking, Pillar 2, Reporting, Q&A, CP 14/19, SS 24/15, PRA 110, Liquidity Risk, Basel III, PRA