The PRA published an update on Capital+ reporting requirements, which includes an indicative timetable of implementation activities for firms subject to Capital+ reporting requirements. The update provides details of the onboarding activities for the Bank of England’s Electronic Data Submission (BEEDS) portal leading up to firms’ submission deadline.
This follows the update published on May 30, which advised firms that the BEEDS portal will be used to submit the relevant Capital+ returns. The timeline will be kept under review and any further changes will be published. The PRA also e-mailed firms that have their first reporting deadline in December 2017 and requested them to nominate a principal user for the submission of returns on the BEEDS portal. The deadline for responses is Monday, July 11. As these firms will be the first to submit via BEEDS, they have also been invited to participate in a User Acceptance Testing (UAT) environment. UAT for firms with their first reporting deadline in January-2018-and-beyond is being scoped and the PRA will provide an update on this by the end of July.
Related Link: Implementation Timeline (PDF)
Keywords: Europe, United Kingdom, PRA, BEEDS, Capital+, Reporting, Banking
Previous ArticleIMF Publishes FSSA Report for India Under the FSAP
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.
BCBS and FSB published a report on supervisory issues associated with benchmark transition.
IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.
ESMA updated the reporting manual on the European Single Electronic Format (ESEF).
EBA published a statement on resolution planning in light of the COVID-19 pandemic.
BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework
ECB published a guideline (2020/97), in the Official Journal of European Union, on the definition of materiality threshold for credit obligations past due for less significant institutions.
FED temporarily revised the capital assessments and stress testing reports (FR Y-14A/Q/M) to implement the changes in response to the COVID-19 pandemic.