On 15 December 2021, the PRA issued a statement explaining how a number of changes to banking regulatory reporting requirements are being implemented in the Capital Requirements Regulation reporting modules.
The changes include:
- PRA Capital Requirements Regulations: the PRA has incorporated the entire body of the UK version of COREP and FINREP requirements, into PRA rules to create a single source for reporting requirements for firms.
- LVR001 Leverage Ratio: the PRA made changes to the Leverage Ratio reporting requirements which will take effect on 1 January 2022. This has been introduced in version 3.5.0 of the Bank of England Banking XBRL taxonomy as a new module, LVR001 Leverage Ratio.
- COR014 and COR015 Remuneration: firms are required to submit Remuneration Benchmarking and High Earners Reports to the PRA, as set out in Chapters 17 and 18 of the Remuneration Part of the PRA Rulebook, respectively.
- Pause of Supervisory Benchmarking Portfolio: firms will not be required or expected to submit any data for the 2022 and 2023 benchmarking exercise. This includes Credit Risk, IFRS 9 and Market Risk data.