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    CBB Amends Forms PIR and PIRI to Include IFRS9 and FAS30 Requirements

    May 03, 2018

    CBB amended the Form Prudential Information Report (PIR) for conventional banks and Form Prudential Information Returns for Islamic Banks (PIRI). Form PIR for conventional banks has been amended to incorporate IFRS 9 classifications and related requirements, while Form PIRI has been revised to incorporate Financial Accounting Standard (FAS) 30 on “Impairment, Credit Losses and Onerous Commitments” classifications and related requirements. CBB also published the revised guidelines for completion of form PIR.

    The revised forms incorporate the existing arrangements and CBB requirements for reporting liquidity coverage ratio (LCR), net stable funding ration (NSFR), and leverage ratio. CBB amended the forms for both local banks and branches of foreign banks. The revised forms must be used for reporting from the period ending March 31, 2018. Banks must continue the current practice for filling the forms PIR and PIRI on a quarterly basis within 20 calendar days from the end of each respective quarter. However, the deadline for submission for the first quarter of 2018 will be May 10, 2018.

     

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    Keywords: Middle East and Africa, Bahrain, Banking, Reporting, IFRS 9, FAS 30, Form PIR, Form PIRI, Islamic Banking, CBB

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