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.
Keywords: Europe, UK, Banking, XBRL, Version 3.4.0, Taxonomy, Reporting, Ring Fencing, Capital+, Basel, PRA
Previous ArticleBundesbank on Use of Discretion for Reduced AnaCredit Reporting
The European Banking Authority (EBA) has published the final templates, and the associated guidance, for collecting climate-related data for the one-off Fit-for-55 climate risk scenario analysis.
The European Banking Authority (EBA) recently published a report that recommends enhancements to the Pillar 1 framework, under the prudential rules, to capture environmental and social risks.
As a follow on from its prudential standard on the treatment of crypto-asset exposures, the Basel Committee on Banking Supervision (BCBS) proposed disclosure requirements for crypto-asset exposures of banks.
The Basel Committee on Banking Supervision (BCBS) and the European Banking Authority (EBA) have published results of the Basel III monitoring exercise.
The Prudential Regulation Authority (PRA) recently issued a few regulatory updates for banks, with the updated Basel implementation timelines being the key among them.
The U.S. Department of the Treasury has recently set out the principles for net-zero financing and investment.
The European Commission (EC) launched a stakeholder survey on the draft International Guiding Principles for organizations developing advanced artificial intelligence (AI) systems.
The finalization of the two sustainability disclosure standards—IFRS S1 and IFRS S2—is expected to be a significant step forward in the harmonization of sustainability disclosures worldwide.
Decentralized finance (DeFi) is expected to increase in prominence, finding traction in use cases such as lending, trading, and investing, without the intermediation of traditional financial institutions.
The Basel Committee on Banking Supervision (BCBS) published reports that assessed the overall implementation of the net stable funding ratio (NSFR) and the large exposures rules in the U.S.