PRA Clarifies Reporting Instructions and Rules on Branch Return
PRA published questions and answers (Q&A) on the Branch Return form and related reporting instructions. The answers provide clarifications on instructions or rules for reporting of total assets and liabilities; gross derivative assets; deposits; loans and advances other than those held for trading; derivatives; and payments, settlements, custody, and clearing.
PRA had, in April 2019, proposed to change the format and content of the Branch Return via the consultation paper CP8/19. After reviewing responses and providing feedback, PRA had published the final template and associated reporting instructions in the policy statement PS17/19 in September 2019. Since then, PRA has received a number of additional questions from firms regarding the template and reporting instructions. PRA has now decided to publish answers to these questions, in case questions received indicate the need to clarify the reporting instructions or rules. The answers provide firms with options for meeting expectations of PRA and the material in the Q&A document does not constitute new PRA policy.
Keywords: Europe, UK, Banking, Q&A, Branch Return Form, Reporting, PRA
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