PRA Updates Q&A on Branch Return, Announces End Date of COVID Facility
PRA published Version 3 of the questions and answers (Q&A) on the Branch Return form, with this version superseding the version published in October 2020. PRA published answers where the questions it received highlight a need to clarify the reporting instructions or rules, with the new or updated Q&A appearing in italics. The answers provide firms with options for meeting the PRA expectations, but it is not a PRA expectation that firms must report in line with the answers. Additionally, in a letter to the Environmental Audit Committee, BoE informed that the COVID Corporate Financing Facility (CCFF) scheme closed to new applications on December 31, 2020 and will close to new borrowing in March 2021, with all borrowings due for repayment by March 2022.
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Keywords: Europe, UK, Banking, Q&A, Branch Return Form, Reporting, CCFF, COVID-19, PRA, BoE
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