Featured Product

    PRA Finalizes Reporting Amendments to Pillar 2 Liquidity Framework

    June 17, 2019

    PRA published the final Policy Statement PS13/19 on regulatory reporting amendments and clarifications to the Pillar 2 liquidity framework for banks in UK. PS13/19 also provides feedback to responses to the Consultation Paper CP6/19 titled "Pillar 2 liquidity: Updates to the framework." The updated PRA110 template and reporting instructions will take effect from January 01, 2020. Additionally, PRA published version 5 of the PRA110 questions and answers (Q&As), which supersedes the version that was published on March 19, 2019. The new or updated Q&As appear in italics and under the PRA110 row/column to which they refer, where possible.

    PRA received nine responses to CP6/19. Respondents did not express concerns on most of the proposals, but did raise some issues and requests for clarifications. Chapter 2 of PS13/19 sets out the PRA feedback to these response, along with the final decisions. Appendices to PS13/19 contain the final policy in the form of updates to the following:

    • Regulatory Reporting Part of the PRA Rulebook (Appendix 1)
    • Statement of Policy on Pillar 2 liquidity (Appendix 2)
    • Supervisory Statement SS24/15 on the PRA approach to supervising liquidity and funding risks (Appendix 3)
    • SS34/15 on guidelines for completing regulatory reports (Appendix 4)
    • PRA110 template and reporting instructions (Appendices 5 and 6, respectively)

    Annex A of the rule instrument amending the Regulatory Reporting Part of the PRA Rulebook (Appendix 1), the updated Statement of Policy (Appendix 2), the updated SS24/15 (Appendix 3), and the updated SS34/15 (Appendix 4) will take effect from July 01, 2019. The updated PRA110 template and reporting instructions (appendices 5 and 6) and Annex B of the rule instrument amending the Regulatory Reporting Part of the PRA Rulebook (Appendix 1) will take effect from January 01, 2020. PS13/19 is relevant to UK banks, building societies, PRA-designated investment firms, and non-EU European Economic Area banks, referred to collectively as "firms" in this Policy Statement. 

    The policy in PS13/19 has been designed in the context of the current UK and EU regulatory framework. PRA has assessed that the policy will be affected in the event that the UK leaves the EU with no implementation period in place. The final Statement of Policy, SS24/15, and SS34/15 attached to PS13/19 should be read in conjunction with SS1/19 titled "Non-binding PRA materials: The PRA’s approach after the UK’s withdrawal from the EU." The changes being made to the Regulatory Reporting Part of the Rulebook should be read in conjunction with SS2/19 titled "PRA approach to interpreting reporting and disclosure requirements and regulatory transactions forms after the UK’s withdrawal from the EU." 

     

    Related Links

    Effective Dates: January 01, 2020; July 01, 2019

    Keywords: Europe, UK, Banking, Liquidity Risk, Reporting, PRA 110, Pillar 2 Liquidity, PS 13/19, CP 6/19, Q&A, Brexit, PRA

    Featured Experts
    Related Articles
    News

    HKMA on Fintech Adoption and Innovation by Banks in Hong Kong

    HKMA announced the publication of a report on fintech adoption and innovation in the banking industry in Hong Kong.

    May 20, 2020 WebPage Regulatory News
    News

    BIS on Impact of Increasing Use of Cloud Technology on Cyber Risk

    BIS published a working paper that examines the drivers of cyber risk, especially in context of the cloud services.

    May 20, 2020 WebPage Regulatory News
    News

    ECB Consults on Guide for Managing Climate and Environmental Risks

    ECB launched consultation on a guide specifying how the Banking Supervision expects banks to consider climate-related and environmental risks in their governance and risk management frameworks and when formulating and implementing their business strategy.

    May 20, 2020 WebPage Regulatory News
    News

    ECB Issues Opinion on Revisions to CRR in Response to COVID Crisis

    ECB published an opinion (CON/2020/16) on amendments to the prudential framework in EU in response to the COVID-19 pandemic.

    May 20, 2020 WebPage Regulatory News
    News

    EBA Assesses Interlinkages Between Recovery and Resolution Planning

    EBA published a report that examines the interlinkages between recovery and resolution planning under the Bank Recovery and Resolution Directive (BRRD).

    May 20, 2020 WebPage Regulatory News
    News

    SRB Publishes Final MREL Policy Under the Banking Package

    SRB published the final Minimum Requirements for Own Funds and Eligible Liabilities (MREL) policy under the Banking Package.

    May 20, 2020 WebPage Regulatory News
    News

    ECB Releases Results of March Survey on Credit Terms and Conditions

    ECB published results of the March 2020 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter (OTC) derivatives markets.

    May 19, 2020 WebPage Regulatory News
    News

    FINMA Adjusts Deadlines for COVID-19 Relief Measures for Banks

    FINMA published guidance (06/2020) on extending or discontinuing various exemptions that were granted due to the COVID-19 crisis.

    May 19, 2020 WebPage Regulatory News
    News

    SRB Consults on Standardized Data Set for Bank Valuation in Resolution

    SRB launched a consultation on the minimum data needed for valuation of a bank in resolution.

    May 19, 2020 WebPage Regulatory News
    News

    EIOPA Changes Frequency of RFR and EDA Processes to Two Weeks

    EIOPA announced a change in the frequency of current extraordinary processes for risk-free interest rate term structures (RFR) and symmetric adjustment to equity risk (EDA) from a weekly basis to every two weeks.

    May 19, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5203