Published on 20 July 2017
Regulatory reporting: Responses to CP6/17 – PS20/17
This Prudential Regulation Authority (PRA) policy statement (PS) follows Consultation Paper (CP) 6/17 ‘Regulatory reporting: occasional consultation paper’. It contains final rules, updated Supervisory Statement (SS) 34/15 ‘Guidelines for completing regulatory reports’, and updated templates and instructions (PRA101 to PRA103, and PRA108).
This PS is relevant to PRA-authorised UK banks, building societies, PRA-designated investment firms and non-European Economic Area (EEA) banks authorised to accept deposits through a branch in the United Kingdom.
The PRA received one response to the CP, which agreed with the proposals. The PRA is therefore making the final rules as consulted on in the CP without any changes.
Published on 12 June 2017
Regulatory reporting: occasional consultation paper – CP6/17
This Prudential Regulation Authority (PRA) consultation paper (CP) sets out proposals for minor amendments to the templates and reporting instructions for PRA101 to PRA103 (Capital+), PRA108, and the removal of the definition of ‘whole-firm liquidity modification’ from the PRA Rulebook.
The proposals would result in changes to the Regulatory Reporting Part of the PRA Rulebook and reporting templates and instructions PRA101 to PRA103 and PRA108. Appendix 1 of Supervisory Statement (SS) 34/15 ‘Guidelines for completing regulatory reports’ will be updated to link to the amended templates when final policy is published.
The proposals in relation to the Capital+ and PRA108 templates are relevant to PRA-authorised UK banks, building societies, PRA-designated investment firms. The removal of the definition of ‘whole-firm liquidity modification’ is relevant to non-EEA banks authorised to accept deposits through a branch in the United Kingdom.
Summary of proposals
PRA101 to PRA103 (Capital+)
The PRA has identified inconsistencies between the templates and instructions published in Policy Statement (PS) 32/16 ‘Responses to Chapter 3 of CP17/16 - forecast capital data’ and the XBRL taxonomy subsequently published on the Bank’s website in February 2017. The PRA therefore proposes to make the following amendments:
- change the note on the header page to indicate that values in the template should be reported in units, not thousands;
- remove the requirement for firms to supply a Group Reference Number (GRN) and add the requirement for firms to supply their Legal Entity identifier (LEI);
- remove the example date from the header page and at the top of the columns on the ‘Input’ section; and
- update the reporting instructions in SS34/15 for the above changes.
To be consistent with the Capital+ data items, the PRA proposes to change the PRA108 reporting instructions to indicate that reporting should be in units.
Regulatory Reporting Glossary
The PRA has identified an error in rule-making instrument PRA 2017/4, published in PS4/17 ‘Responses to CP36/16 and correction to PS2/16 PIN rules’. The PRA proposes to correct this by deleting the definition for ‘whole-firm liquidity modification’ from the Regulatory Reporting Part Glossary. The PRA also proposes to remove a further reference to ‘whole-firm liquidity modification’ (WFLM) in 14.4 of the Regulatory Reporting Part.
Responses and next steps
This consultation closed on Friday 7 July 2017. The PRA invites feedback on the proposals set out in this consultation.
The proposed implementation date for the changes to the templates and reporting instructions is 1 October 2017, to align with the introduction of reporting of these templates; the removal of the definition of ‘whole-firm liquidity modification’ would also take effect on the same date.