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    PRA Updates Timeline for Capital+ Reporting Requirements

    September 27, 2017

    The PRA published the updated timeline for Capital+ reporting requirements, as previously set out in the policy statement PS32/16 titled “Responses to Chapter 3 of consultation paper, CP17/16 - forecast capital data”; this is ahead of ahead of October 01, when the requirements take effect. CP17/16 is related to regulatory reporting of financial statements, forecast capital data, and International Financial Reporting Standards (IFRS) 9 requirements. The update includes key dates and activities for firms subject to Capital+ reporting requirements, specifically onboarding activities for the Bank of England’s Electronic Data Submission (BEEDS) portal leading up to firms’ submission deadline.

    Firms should refer to the indicative timeline for further details on key activities leading up to their submission date. Between October 01, 2017 and the first time a firm's return is due under the new rules, the PRA asks firms to continue to submit Capital+ returns under any current voluntary arrangements. Following this update, the PRA will contact firms directly with relevant updates on Capital+ reporting. Timelines are provided based on a firm’s first reporting deadline and will be reviewed and updated as appropriate.

     

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    Keywords: Europe, UK, Banking, Capital+, Timeline, PS32/16, Reporting, BEEDS, PRA

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