PRA Proposes to Delay Termination of Reports FSA047 and FSA048

By Regulatory News

October 12, 2018

Basel Liquidity Compliance, Regulatory Reporting: EU

PRA is proposing (CP22/18) to delay termination of the existing "daily flows" and "enhanced mismatch" liquidity reports (FSA047 and FSA048) by six months. The purpose of the proposed change is to mitigate risks to the supervision of liquidity in the initial period, following the introduction of the new PRA110 report on July 01, 2019. This consultation closes on November 12, 2018 and is relevant to banks, building societies, and PRA-designated investment firms.

PRA does not propose changing the implementation date of the PRA110. These proposals would be delivered by amendments to the Reporting Part of the PRA Rulebook (Appendices 1 and 2) and an update to Supervisory Statement SS34/15 titled "Guidelines for completing regulatory reports" (Appendix 3). The following changes have been proposed to the PRA reporting requirements to:

Delay terminating the FSA047 and FSA048 for six months (that is, to January 01, 2020)
Reduce the reporting frequency of the FSA047 and FSA048 reports to align with the PRA110 report, in cases where it would otherwise differ from July 01, 2019

Furthermore, PRA confirms that it is using its new individual risk methodologies as set out in Statement of Policy titled "Pillar 2 liquidity" in liquidity reviews. They are being applied at the current glide path factor. PRA has previously stated its intention to set out proposals on the overall calibration of the liquidity framework in 2018. However, PRA has taken the decision to postpone finalization of its proposals to conduct further analysis on the appropriate level of liquidity guidance. This includes the potential for some recognition in the Pillar 2 liquidity framework of the ability to draw on BoE liquidity facilities, where firms have access arrangements and appropriate collateral in place.

Related Links

Comment Due Date: November 12, 2018

Keywords: Europe, UK, Banking, Reporting, Pillar 2 Liquidity, CP22/18, FSA047, FSA048, PRA

Featured Experts

OSFI Updates Manual of Reporting Forms and Instructions for Banks


News APRA Revises Related Entities Standard for Banks APRA published a strengthened prudential standard APS 222 on associations with related entities, with the aim to mitigate contagion risk within banking groups. August 20, 2019 WebPage Regulatory News
News HKMA Revises Implementation Schedule for Initial Margin Rules HKMA intends to adopt a revised implementation schedule for the margin requirements for non-centrally cleared derivatives. August 16, 2019 WebPage Regulatory News
News HKMA Revises Guideline on Application of Banking Disclosure Rules HKMA issued a revised version of the Supervisory Policy Manual module CA-D-1 on guideline on the application of the Banking (Disclosure) Rules (BDR). August 16, 2019 WebPage Regulatory News
News ECB Decision on Recognizing Reporting Member States Under AnaCredit ECB has finalized the Decision 2019/1348 (ECB/2019/20) that establishes procedure for recognizing non-euro area member states as reporting member states under the AnaCredit Regulation (EU 2016/867). August 16, 2019 WebPage Regulatory News
News FASB Proposes to Extend CECL Standard Deadline for Certain Entities FASB proposed an Accounting Standards Update that would grant private companies, not-for-profit organizations, and certain small public companies additional time to implement FASB standards on current expected credit losses (CECL), leases, and hedging. August 15, 2019 WebPage Regulatory News
News IASB Adds Phase Two of IBOR Reform to Its Work Plan IASB (or the Board) has added the second phase of its project focused on potential financial reporting implications linked to the interest rate benchmark reform—interbank offer rate (IBOR) reform—to its work plan. August 15, 2019 WebPage Regulatory News
News FED Updates Draft Instructions for Proposed FR Y-14 Reporting Forms FED updated draft instructions for the monthly, quarterly, and annual capital assessments and stress testing reports, also known as forms FR Y-14M, FR Y-14Q, FR Y-14A, respectively. August 15, 2019 WebPage Regulatory News
News FASB Proposes Taxonomy Changes Related to Topics 326, 815, and 842 FASB is proposing taxonomy improvements for the proposed Accounting Standards Update on clarifying the interactions among topic 321 on investments in equity securities), topic 323 on investments under equity method and joint ventures), and topic 815 on derivatives and hedging. August 15, 2019 WebPage Regulatory News
News OCC Updates Bank Accounting Advisory Series in August 2019 OCC released an update to the Bank Accounting Advisory Series (BAAS), which reflects accounting standards issued by FASB, through March 31, 2019, on topics such as hedging and credit losses. August 15, 2019 WebPage Regulatory News
News APRA Consults on Final Phase Margin Rules for Uncleared Derivatives APRA is consulting on amendments to the prudential standard CPS 226 on margin and risk mitigation requirements for non-centrally cleared derivatives. August 14, 2019 WebPage Regulatory News

RESULTS 1 - 10 OF 3656