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
Previous ArticlePRA Updates Supervisory Statement on Counterparty Credit Risk
PRA published a statement that explains when to expect further information on the PRA approach to transposing the Capital Requirements Directive (CRD5), including its approach to revisions to the definition of capital for Pillar 2A.
SRB published the work program for 2021-2023, setting out a roadmap to further operationalize the Single Resolution Fund and to achieve robust resolvability of banks under its remit over the next three years.
EIOPA is consulting on the relevant ratios to be mandatorily disclosed by insurers and reinsurers falling within the scope of the Non-Financial Reporting Directive as well as on the methodologies to build these ratios.
US Agencies (FDIC, FED, and OCC) issued a joint statement encouraging banks to cease entering into new contracts that use USD LIBOR as a reference rate as soon as practicable and in any event by December 31, 2021, to facilitate an orderly LIBOR transition.
The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS, endorsed a coordinated approach to mitigate COVID-19 risks to the global banking system.
HM Treasury extended the consultation period on Phase II of the Future Regulatory Framework (FRF) Review, from January 19, 2021 to February 19, 2021.
ECB finalized guidance on the way it expects banks to prudently manage and transparently disclose climate and other environmental risks under the current prudential rules.
BCBS published a technical amendment to the capital treatment of securitizations of non-performing loans by banks.
PRA published the policy statement PS23/20 on the calculation of stressed value at risk (sVAR) and risks not in value at risk (RNIV) under the market risk framework.
BoE announced that the Data and Statistics Division is planning to move collection of statistical data to the BoE Electronic Data Submission (BEEDS) portal.