PRA proposed (CP6/19) regulatory reporting amendments and clarifications to the Pillar 2 liquidity framework for banks in UK. This consultation closes on April 19, 2019. Additionally, PRA published version 4 of the PRA110 questions and answers (Q&As), which supersedes the version that was published on December 14, 2018.
Following a review of the feedback received on PRA110 reporting template and instructions, PRA considers that updates to the template and reporting instructions are needed. In light of this and to reflect the review of PRA, CP6/19 sets out proposals to make amendments to PRA110 template and instructions. PRA has also reviewed certain aspects of Pillar 2 liquidity and sets out proposals for updates to reporting requirements for non-EU European Economic Area banks; expectations under the supervisory statement SS24/15; the approach to cash flow mismatch risk; and the Regulatory Reporting Part of the PRA Rulebook. The proposed changes would be implemented through amendments to the following:
- Regulatory Reporting Part of the PRA Rulebook (Appendix 1)
- Statement of Policy on Pillar 2 liquidity (Appendix 2)
- SS24/15 on approach to supervising liquidity and funding risks (Appendix 3)
- SS34/15 on guidelines for completing regulatory reports (Appendix 4)
- PRA110 reporting template (Appendix 5)
- PRA110 reporting instructions (Appendix 6)
The proposed implementation date for Annex A (as explained in Appendix 1 of CP6/19) in the draft PRA Rulebook is July 01, 2019. Additionally, the proposed implementation date for the updated PRA110 reporting template and instructions and for Annex B (as explained in Appendix 1 of CP6/19) in the draft PRA Rulebook is January 01, 2020. CP6/19 is relevant to UK banks, building societies, PRA-designated investment firms, and non-EU European Economic Area banks.
- CP6/19 (PDF)
- Amendments to PRA110 Template (XLSX)
- Q&As on Reporting (PDF)
- Reporting of PRA110
Comment Due Date: April 19, 2019
Keywords: Europe, UK, Banking, Reporting, Pillar 2 Liquidity, CP6/19, PRA110, Q&A, Cash Flow Mismatch Risk, Liquidity Risk, Basel III, PRA
MAS and Temasek jointly released a report to mark the successful conclusion of the fifth and final phase of Project Ubin, which focused on building a blockchain-based multi-currency payments network prototype.
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.
APRA updated the lists of the Direct to APRA (D2A) validation rules for authorized deposit-taking institutions, insurers, and superannuation entities.
PRA updated the statement that provides guidance to regulated firms on implementation of the EBA guidelines on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis.
EBA updated the 2019 list of closely correlated currencies that was originally published in December 2013.
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).