The PRA has published a statement explaining how the changes it has made to a number of banking regulatory reporting requirements are being implemented in the CRR reporting modules.
The PRA has incorporated the entirety of the UK version of COREP and FINREP requirements into its rules to create a single source of reporting requirements for firms. This has led to the following changes:
- New data item CO2016 Global Systemically Important Institutions (G-SII);
- Change of data item code COR003 Net Stable Funding Ratio (NSFR) to COR017 NSFR; and
- Removal of FSA045 from schedules.
In addition, the changes which the PRA has made to the Leverage Ratio reporting requirements, as introduced in version 3.5.0 of the Bank of England’s taxonomy, are due to take effect on 1 January 2022. The statement also confirms the applicable deadlines for firms to submit Remuneration Benchmarking and High Earners Reports to the PRA, as implemented in the EBA Taxonomy 3.0.
Finally, firms will not be expected to submit any data for the 2022 or 2023 Supervisory Benchmarking exercise relating to capital internal models since the PRA deems the technical standards to report this information to be outdated. This incudes Credit Risk, IFRS 9 and Market Risk data.