PRA Regulatory Digest - August 2023

The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Published on 01 September 2023

Top news and publications

  • Firm feedback survey 2023
  • Changes to reporting requirements for dual regulated firms
  • Version 3.6.0 Bank of England Banking XBRL taxonomy

News and speeches

Firm feedback survey 2023

25 August 2023

The sample of firms selected to participate in the 2023 survey can expect to receive a notification in September 2023.

The set of questions for the 2023 survey will remain similar to those included in the 2022 survey.

Results of the firm feedback survey 2022

Keeping your firm's details up to date

25 August 2023

All firms must ensure that the regulators have the correct information for them by checking, amending (if required), and confirming their firms details at least annually, using the FCA’s system Connect, in accordance with SUP 16.10 reporting requirements. Some of this information is published on the Financial Services Register

In August, the FCA wrote to all dual regulated firms (firms supervised by the FCA and the PRA) to inform them that they will need to attest to their firm details within 60 business days of their Accounting Reference Date (ARD), from 1 December 2023.  

For more information, visit the FCA’s website.

Banking publications and updates

Version 3.6.0 Bank of England Banking XBRL taxonomy

16 August 2023

On Wednesday 16 August 2023, the PRA published version 3.6.0 of the Bank of England Banking taxonomy to support the collection of data relating to the risks from contingent leverage and trading exposures where these risks may most likely arise.

All other reporting frameworks are unchanged.

The taxonomy, data point model (DPM) dictionary, annotated templates and validation rules represent the reporting requirements for PS5/23 – risks from contingent leverage

The reporting requirement will take effect on 1 January 2024, with a first reporting reference date of 30 June 2024. We will adopt the European Banking Authority (EBA) filing rules as published on the EBA website.

Banks, building societies and investment firms

More information

Bank Underground – a blog for Bank of England staff to share views that challenge – or support – prevailing policy orthodoxies. The views expressed here are those of the authors, and are not necessarily those of the Bank of England or its policy committees.

Bank Overground – the purpose of Bank Overground is to share our internal analysis. Each bite-size post summarises a piece of analysis that support a policy or operational decision.

Explainers – from interest rates and inflation through to bank failures and financial crises, Explainers uses everyday examples and engaging visuals to bring economics to life.

European and International developments – readers are referred to the following websites: