Featured Product

    PRA Consults on PRA110 Reporting Frequency Threshold

    June 25, 2019

    PRA proposed (CP14/19) to amend the reporting frequency of PRA110 reporting template (PRA110) when a firm is in stress. The consultation closes on September 27, 2019 and the proposed implementation date for the proposal in CP14/19 is May 01, 2020. PRA also published Version 6 of questions and answers (Q&A) on the PRA110 reporting template and instructions, with the new or updated Q&A appearing in italics and under the PRA110 row/column to which they refer, where possible. The Q&A update adds responses to questions related to LCR weights.

    PRA proposes to introduce a rule to require firms with total assets of GBP 5 billion or above, calculated in accordance with Council Directive 86/635/EEC, to submit the PRA110 reporting template every business day in the event of a firm-specific liquidity stress or market liquidity stress. As a consequence of the proposed change to the reporting frequency threshold, PRA also proposes an update to the supervisory statement SS24/15 (paragraph 6.2A) to align with the proposed threshold. The proposals in CP14/19 would also amend the Regulatory Reporting Part of the PRA Rulebook (Appendices 1 and 2).

    The proposals are based on the UK and EU regulatory framework as it currently stands. PRA has assessed that the proposals will be affected in case of a no-deal Brexit. A second version of the proposed rules, which includes the relevant changes related to Brexit, has been set out in Appendix 2. PRA110 will come into effect from July 01, 2019, with the frequency of submission (weekly or monthly) determined by each firm’s category. To make it easier for firms and to avoid confusion of overlapping submission dates, interim reporting will finish with the end of May data point (received June 21, 2019). PRA will not be requesting June data (which would be due in July) from any of firms participating in the interim reporting. This will be removed from the GABRIEL submission schedule.

     

    Related Links

    Comment Due Date: September 27, 2019

    Effective Date: May 01, 2020 (CP14/19); July 01, 2019 (PRA110)

    Keywords: Europe, UK, EU, Banking, Pillar 2, Reporting, Q&A, CP 14/19, SS 24/15, PRA 110, Liquidity Risk, Basel III, PRA

    Featured Experts
    Related Articles
    News

    US Regulators Release Stress Test Scenarios for Banks

    The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).

    February 28, 2024 WebPage Regulatory News
    News

    Asian Governments Aim for Interoperability in AI Governance Frameworks

    The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.

    February 28, 2024 WebPage Regulatory News
    News

    EBA Proposes Operational Risk Standards Under Final Basel III Package

    The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.

    February 26, 2024 WebPage Regulatory News
    News

    EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS

    The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.

    February 23, 2024 WebPage Regulatory News
    News

    ECB to Expand Climate Change Work in 2024-2025

    Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.

    February 23, 2024 WebPage Regulatory News
    News

    BIS Bulletin Examines Cognitive Limits of Large Language Models

    The use cases of generative AI in the banking sector are evolving fast, with many institutions adopting the technology to enhance customer service and operational efficiency.

    January 25, 2024 WebPage Regulatory News
    News

    ECB is Conducting First Cyber Risk Stress Test for Banks

    As part of the increasing regulatory focus on operational resilience, cyber risk stress testing is also becoming a crucial aspect of ensuring bank resilience in the face of cyber threats.

    January 24, 2024 WebPage Regulatory News
    News

    EBA Continues Momentum Toward Strengthening Prudential Rules for Banks

    A few years down the road from the last global financial crisis, regulators are still issuing rules and monitoring banks to ensure that they comply with the regulations.

    January 24, 2024 WebPage Regulatory News
    News

    EU and UK Agencies Issue Updates on Final Basel III Rules

    The European Commission (EC) recently issued an update informing that the European Council and the Parliament have endorsed the Banking Package implementing the final elements of Basel III standards

    December 19, 2023 WebPage Regulatory News
    News

    Industry Agency Expects Considerable Uptake for Swiss Climate Scores

    The Swiss Federal Council recently decided to further develop the Swiss Climate Scores, which it had first launched in June 2022.

    December 18, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8952