On 30 April 2018, the PRA published Policy Statement 8/18: Pillar 2 – update to reporting requirements (PS8/18). The PRA has also updated:

• Supervisory Statement 32/15: Pillar 2 reporting, including instructions for completing data items FSA071 to FSA082, and PRA111 (SS32/15); and
• Statement of Policy: The PRA’s methodologies for setting Pillar 2 capital.

PS8/18 contains the final policy and rules following Consultation Paper 25/17: Pillar 2 – update to reporting requirements. The PRA reports that it received no responses to its Consultation Paper. However, it also states that it has:

• included additional wording in Rule 2.9 of Reporting Pillar 2 to align it with the updated Statement of Policy and clarify that it applies to firms with total assets equal to or greater than £5 billion at the relevant level of consolidation used as the basis of their ICAAP. The PRA has also moved the definition of ‘Supervisory Reporting ITS’ to the central Glossary as a consequential change resulting from the transfer of the ‘total assets’ definition to the central Glossary; and
• made minor amendments to reflect a change in terminology from ‘Firm Data Submission Framework’ to ‘Stress Testing Data Framework’ in paragraph 2.4 of SS32/15 and paragraphs 3.10, 3.11, 4.18, 7.30 and 8.20 of the updated Statement of Policy.

The final rules in PS8/18 and the updated versions of SS32/15 and the Statement of Policy take effect from 1 October 2018.