PRA Updates Q&A on Branch Return Form
PRA published Version 2 of the questions and answers (Q&A) on the Branch Return form. The new or updated answers address queries on reporting issues in the areas of total assets and liabilities with respect to assets originated by UK branch but booked outside of UK, loans and advances other than those held for trading, and payments, settlements, custody and clearing.
PRA had proposed to change the format and content of the Branch Return via the consultation paper CP8/19 on revision of the branch return. After reviewing responses and providing feedback, PRA 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 decided to publish this Q&A, in case questions received indicate the need for clarifications related to the reporting instructions or rules. The material in this document does not constitute new PRA policy. 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. The Q&A process may prompt PRA to consider whether to amend the reporting instructions or rules in future, in which case, PRA will consider proposals in accordance with its usual process.
Keywords: Europe, UK, Banking, Q&A, Branch Return Form, Reporting, PRA
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