On 26 March 2020, the PRA published Consultation Paper 3/20: Occasional Consultation Paper – March 2020 (CP3/20). In CP3/20 the PRA sets out its proposals to make minor amendments to PRA rules, supervisory statements (SS), national specific templates (NSTs) and associated LOG files, and the market risk sensitivities data item and associated instructions.

Specifically CP3/20 covers:

  • Chapter 2: Minor updates and amendments to instructions for completing PRA110;
  • Chapter 3: Non-Solvency II: London interbank offered rate updates for small insurers;
  • Chapter 4: Solvency II reporting: minor updates, corrections and clarifications;
  • Chapter 5: Senior Managers Regime: Application form updates;
  • Chapter 6: Regulatory reporting: amendments to the branch return;
  • Chapter 7: Regulatory reporting: updates to SS34/15 and minor amendments to PRA101 template; and
  • Chapter 8: Securitisation: updates to significant risk transfers.

The deadline for comments on CP3/20 is 26 June 2020.