PRA Proposes to Delay Termination of Reports FSA047 and FSA048

PRA does not propose changing the implementation date of the PRA110. These proposals would be delivered by amendments to the Reporting Part of the PRA Rulebook (Appendices 1 and 2) and an update to Supervisory Statement SS34/15 titled "Guidelines for completing regulatory reports" (Appendix 3). The following changes have been proposed to the PRA reporting requirements to:

• Delay terminating the FSA047 and FSA048 for six months (that is, to January 01, 2020)
• Reduce the reporting frequency of the FSA047 and FSA048 reports to align with the PRA110 report, in cases where it would otherwise differ from July 01, 2019

Furthermore, PRA confirms that it is using its new individual risk methodologies as set out in Statement of Policy titled "Pillar 2 liquidity" in liquidity reviews. They are being applied at the current glide path factor. PRA has previously stated its intention to set out proposals on the overall calibration of the liquidity framework in 2018. However, PRA has taken the decision to postpone finalization of its proposals to conduct further analysis on the appropriate level of liquidity guidance. This includes the potential for some recognition in the Pillar 2 liquidity framework of the ability to draw on BoE liquidity facilities, where firms have access arrangements and appropriate collateral in place.

Related Links

• Notification
• CP22/18 (PDF)
• Statement of Policy on Pillar 2 Liquidity

Comment Due Date: November 12, 2018

Keywords: Europe, UK, Banking, Reporting, Pillar 2 Liquidity, CP22/18, FSA047, FSA048, PRA