PRA Publishes an Update on Reporting Taxonomy 3.4.0 for Banks
PRA announced that it does not intend to update the Capital+ and financial statements XBRL utilities to reflect changes to the Capital+ or financial statements reporting requirements in version 3.4.0 of the BoE banking taxonomy. Firms should ensure they have their own processes in place to prepare submissions. This version of the taxonomy is aligned to the EBA Taxonomy 3.0 Phase 1 and PRA will adopt the EBA filing rules as published by EBA.
On March 10, 2021, PRA had published version 3.4.0 public working draft (PWD) of the BoE XBRL Banking taxonomy to support the collection of Capital+, Financial Statements, and Ring-fencing reporting, alongside the related technical artefacts. The taxonomy, data point model (DPM) dictionary, annotated templates, and validation rules represent the requirements for the consultation paper CP5/21 on the implementation of Basel standards. PRA is inviting feedback, particularly from firms and software vendors, on the PWD technical artefacts by May 03, 2021. PRA will aim to publish the final version of the taxonomy and DPM by July 2021.
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Keywords: Europe, UK, Banking, XBRL, Version 3.4.0, Taxonomy, Reporting, Ring Fencing, Capital+, Basel, PRA
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