On 7 August 2019, the PRA published Policy Statement 16/19: Regulatory reporting: EBA Taxonomy 2.9 (PS16/9). PS16/9 is relevant to UK banks and building societies as well as PRA-designated UK investment firms. It is not relevant to UK branches of firms in other EEA states and non-EEA countries, or to insurance firms.
In PS16/9 the PRA sets out the final rules updating the reporting requirements for ring-fenced bank reporting, Capital+ reporting and the scope of Financial Reporting (FINREP) to be reported by certain firms that are not currently required under the Capital Requirements Regulation (CRR) to report FINREP.
The PRA reports that it received no responses to its earlier consultation (see previous blog post here) and as such it has only made minor changes to the texts consulted on to reflect the European Banking Authority’s final reports on amendments to the implementing technical standards relating to the common reporting framework (COREP) and to FINREP.
The appendices to PS16/19 contain:
- the PRA’s final rules, which are set out in the PRA Rulebook: CRR Firms: Regulatory Reporting (Ring Fence Bodies, Capital + and FINREP) Amendment Instrument 2019;
- a revised version of Supervisory Statement 34/15: Guidelines for completing regulatory reports; and
- revised versions of Capital+ templates PRA101, PRA102 and PRA103 and the RFB template RFB004.
The changes to the PRA Rulebook for Capital + templates PRA 101, PRA 102 and PRA 103 will take effect from 1 March 2020. The changes to the PRA Rulebook and SS34/15 ‘Guidelines for completing regulatory reports’ for ring-fenced bank template RFB004, and the scope of FINREP reporting required from firms that are not currently required under the CRR to report FINREP, will take effect on Monday 1 June 2020.