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Home > Prudential Regulation Authority > Solvency II: Reporting format of National Specific Templates and reporting clarifications – CP40/16
 

Solvency II: Reporting format of National Specific Templates and reporting clarifications – CP40/16

16 November 2016

Overview

In this consultation paper (CP), the Prudential Regulation Authority (PRA) proposes changes to National Specific Template (NSTs) in respect of the file type and reporting format for the 2016 financial year end and future financial year ends, and presents a number of reporting clarifications and technical corrections relating to the accompanying NST LOG files.

The CP is relevant to all UK Solvency II firms required to submit NSTs and to Lloyd’s.

The NSTs contain information that is considered to be specific to the UK market and supervisory approach and are in addition to the Solvency II annual and quarterly reporting. The NSTs and accompanying LOG files are published on the regulatory reporting for Solvency II firms page of the Bank of England website.

In Policy Statement (PS) 2/15 ‘Solvency II: a new regime for insurers’, the PRA published NSTs and accompanying LOG files. The templates are currently published in Excel format. In paragraph 12.13, the PRA said it expected to move to XBRL (eXtensible Business Reporting Language) reporting and would consult on any change in reporting format.

Summary of proposals

Specifically the PRA proposes:

a) reporting for financial year end 2016 and future financial year ends whereby firms submit NSTs in Excel templates, that have been designed using XBRL principles (see Appendix 3);
b) the information requirements for NSTs are brought into the Reporting Part of the PRA Rulebook; and
c) updates to the NST LOG files to reflect changes in cell references, reporting clarifications and technical corrections.

The PRA will consult in a later CP on new proposals moving towards XBRL reporting of NSTs.

Responses

This consultation closed on Tuesday 13 December 2016. Please address any comments or enquiries to CP40_16@bankofengland.co.uk.

Consultation paper

Solvency II: Reporting format of National Specific Templates and reporting clarifications – CP40/16

Appendices 2 and 3 are available at Solvency II: Reporting format of National Specific Templates and reporting clarifications – CP40/16 – related documents

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