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Home > Prudential Regulation Authority > Credit union regulatory reporting – CP24/16
 

Credit union regulatory reporting – CP24/16

04 July 2016

Overview

In this consultation paper (CP), the Prudential Regulation Authority (PRA) sets out proposals for changes to the reporting requirements that apply to credit unions; these replace the returns that must currently be submitted and require that the new returns be submitted electronically.

This CP is relevant to credit unions.

The purpose of the proposed rules is to support the timely submission of accurate regulatory data by credit unions and to provide that such data are consistent with the Credit Unions Part of the PRA Rulebook and relevant to its objectives.

Summary of proposals

The PRA proposes to:

I. require that credit unions submit returns electronically;
II. replace the existing quarterly and annual returns (Appendix 2 and 3);
III. remove certain parts of the Regulatory Reporting Part of the PRA Rulebook and add equivalent rules to the Credit Unions Part (Appendix 1); and
IV. replace the existing notes on completing quarterly and annual returns with new notes (Appendix 4).

The proposals would take effect from 3 January 2017.

Responses

This consultation closed on 5 September 2016. The PRA invites feedback on the proposals set out in this consultation. Please address any comments or enquiries to CP24_16@bankofengland.co.uk.

Consultation paper

Credit union regulatory reporting – CP24/16

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