PRA Announces Update on Supervisory Benchmarking Portfolio Exercise
PRA published updates in relation to the 2021 Supervisory Benchmarking Portfolio exercise. As set out in the 2021 Supervisory Benchmarking Portfolio exercise, the reference date for the Supervisory Benchmarking Portfolio—Initial Market Valuation (COR010) is September 24, 2020, with the data due to be submitted via the GABRIEL reporting system by October 02, 2020. The GABRIEL system will be able to accept submissions of the 2020 COR010 data from September 28, 2020. All other templates in the 2021 Supervisory Benchmarking Portfolio exercise must be submitted according to the EBA Taxonomy 2.10 requirements and the remittance dates set out in the EU Commission Implementing Regulation 2016/2070 and its annexes.
Requirements for the 2021 Supervisory Benchmarking Portfolio exercise (for the end of 2020) have been set out in the 2021 draft implementing technical standards that amend the EU Commission Implementing Regulation 2016/2070 with regard to benchmarking of internal models and in the accompanying annexes on market risk, credit risk, and IFRS 9. PRA expects these amendments to the implementing technical standards (2016/2070) in relation to benchmarking portfolios, reporting templates, and reporting instructions to be made applicable before the end of the transition period of the withdrawal of UK from EU.
Related Links
Keywords: Europe, UK, Banking, Credit Risk, Market Risk, Reporting, Reporting Framework 2.10, Internal Models, Implementing Technical Standards, Benchmarking Exercise, PRA
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Pierre-Etienne Chabanel
Brings expertise in technology and software solutions around banking regulation, whether deployed on-premises or in the cloud.
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Related Articles
Regulators Fine Goldman Sachs for Risk Management Failures
FCA and PRA in the UK, FED in the US, and the authorities in Singapore have fined Goldman Sachs for risk management failures in connection with the 1Malaysia Development Berhad (1MDB).
Canada Hosts International Conference of Banking Supervisors
BCBS announced that OSFI and the Bank of Canada hosted the 21st International Conference of Banking Supervisors (ICBS) virtually on October 19-22, 2020.
FCA Proposes More Measures to Help Insurance Customers Amid Crisis
FCA proposed guidance on how firms should continue to seek to help customers who hold insurance and premium finance products and may be in financial difficulty because of COVID-19, after October 31, 2020.
EBA Issues Opinion to Address Risk Stemming from Legacy Instruments
EBA issued an opinion on prudential treatment of the legacy instruments as the grandfathering period nears an end on December 31, 2021.
ESRB Publishes Non-Bank Financial Intermediation Risk Monitor for 2020
ESRB published the fifth issue of the EU Non-bank Financial Intermediation Risk Monitor 2020 (NBFI Monitor).
HM Treasury Publishes Policy Statement Amending Benchmarks Regulation
HM Treasury announced that the new Financial Services Bill has been introduced in the Parliament.
APRA Initiates Action Against a Bank for Liquidity Compliance Breach
APRA announced that it has increased the minimum liquidity requirement of Bendigo and Adelaide Bank for failing to comply with the prudential standard on liquidity.
PRA Consults on Implementation of Certain Provisions of CRD5 and CRR2
PRA published the consultation paper CP17/20 to propose changes to certain rules, supervisory statements, and statements of policy to implement elements of the Capital Requirements Directive (CRD5).
US Agencies Finalize Rule to Reduce Impact of Large Bank Failures
US Agencies adopted a final rule that applies to advanced approaches banking organizations and aims to reduce interconnectedness in the financial system as well as to reduce contagion risks associated with the failure of a global systemically important bank (G-SIB).
US Agencies Finalize Rule on Net Stable Funding Ratio Requirements
US Agencies (FDIC, FED, and OCC) adopted a final rule that implements the net stable funding ratio (NSFR) for certain large banking organizations.
