20 December: We published Policy Statement 33/18 ‘Responses to Chapter 2 of CP24/18 ‘Occasional Consultation Paper’’, which includes the final rules and Branch Return form to Chapter 2 of Consultation Paper 24/18 ‘Occasional Consultation Paper’. The revised rules and Branch Return form will take effect from Tuesday 1 January 2019.
Further to Policy Statement 29/18 ‘Securitisation: The new EU framework and Significant Risk Transfer’, we published a joint statement with the Financial Conduct Authority (FCA), ‘Securitisation Regulation: PRA and FCA joint statement on reporting of private securitisations’. This direction is intended to apply to all UK established originators, sponsors and securitisation special purpose entities (SSPEs) from Tuesday 15 January 2019.
14 December: We published version 3 of the PRA110 Q&As which has been updated to include additional Q&A in existing sections, as well as a new section on contingencies. For more information see the Interim reporting of PRA110 section.
13 December: We published a joint Consultation Paper (CP) with the Financial Conduct Authority (FCA), CP30/18 ‘FCA and PRA changes to mortgage reporting requirements’. This CP is relevant to: mortgage lenders; home finance administrators; and entities which own mortgage books but which are not authorised to lend. Please send your comments by Friday 22 March 2019 to cp18-41@fca.org.uk.
5 December: We published Policy Statement 30/18 ‘Regulatory reporting: Responses to CP16/18’, updates to SS34/15 ‘Guidelines for completing regulatory reports’ and SS32/15 ‘Pillar 2 reporting, including instructions for completing data items FSA071 to FSA082, and PRA 111’ which include links to updated PRA, RFB and FSA templates and instructions available in the relevant sections.
14 November: We published Policy Statement 28/18 ‘UK leverage ratio: Applying the framework to systemic ring-fenced bodies and reflecting the systemic risk buffer’ which includes updated policy, and materials. For regulatory reporting this includes updated versions of the FSA083 data item and instructions that will take effect from 1 January 2019. See FSA data items and instructions.
9 November: We published version 2 of the PRA110 Q&As which has been updated to include responses on questions related to: technical implementation; the LCR weights; and memorandum items. This supersedes the version previously published on 28 September 2018. The Q&As are in response to a number of additional questions from firms regarding the template and reporting instructions. For more information see the Interim reporting of PRA110 section.
31 October: We published the ‘Ring-fencing: Summary of regulatory reporting requirements’ pack which summarises the new regulatory reporting, and reporting system requirements in relation to ring-fencing. The pack is aimed at UK banking groups in scope of structural reform requirements that will be required to submit ring-fencing regulatory returns from 1 January 2019. See the 31 October update on the Structural reform webpage.
12 October: We published Consultation Paper (CP) 22/18 ‘Liquidity reporting: FSA047 and FSA048’. This CP is relevant to banks, building societies, and PRA-designated investment firms. This consultation closes on Monday 12 November 2018. The PRA invites feedback on the proposals set out in this consultation. Please address any comments or enquiries to CP22_18@bankofengland.co.uk.
12 October: The PRA confirms that it is using its new individual risk methodologies as set out in Statement of Policy ‘Pillar 2 liquidity’ in liquidity reviews. They are being applied at the current glide path factor.
We have previously stated our intention to set out proposals on the overall calibration of the liquidity framework in 2018. However, we have taken the decision to postpone finalisation of our proposals in order to conduct further analysis on the appropriate level of liquidity guidance. This includes the potential for some recognition in the Pillar 2 liquidity framework of the ability to draw on Bank of England liquidity facilities, where firms have access arrangements and appropriate collateral in place.
1 October: Following PS8/18 ‘Pillar 2: Updates to reporting requirements’ updated versions of Statement of Policy ‘The PRA’s methodologies for setting Pillar 2 capital’ and SS32/15 ‘Pillar 2, including instructions for completing data items FSA071 to FSA082, and PRA 111’ have come into effect. The Pillar 2 reporting schedule has also been updated, and is available above.
28 September: Following the publication of the final PRA110 template and associated reporting instructions in Policy Statement (PS) 2/18 ‘Pillar 2 liquidity’, we have received a number of additional questions from firms regarding the template and reporting instructions. We have decided to publish answers to these questions (‘Q&As’) periodically, where questions received highlight a need to clarify the reporting instructions or rules. This document is version 1 of the PRA110 Q&As and covers responses on questions related to monetisation rows.
In addition, having considered feedback from firms, we have reviewed the currency reporting basis for the interim reporting period: firms should only submit on an all-currency basis and for US Dollars (USD), where USD is a material currency.
For more information see the Interim reporting of PRA110 section.
31 August: To assist firms with their submission of
PRA110, we published a taxonomy release note alongside v3.1.1 of our XBRL
taxonomy, data point model (DPM) and taxonomy validations – see the Taxonomy
section below.
12 July: Following our email to participating firms, we provided further information on the timing and basis of interim reporting for the introduction of PRA110.
By way of background, in Policy Statement 2/18 ‘Pillar 2 liquidity’ the PRA introduced methodologies for the assessment of Pillar 2 liquidity risks and a cashflow mismatch risk (CFMR) framework. PRA110 is the new reporting template associated with the CFMR. On 17 January 2018, we updated this webpage to set out that, due to the postponement of the introduction of the PRA110 from 1 January 2019 to 1 July 2019, the interim reporting period would similarly be postponed until September 2018 at the earliest. Specific firms have been contacted to let them know of our intention to commence interim test reporting of the PRA110 and to request their firm’s participation. This update provides additional information on the timing and basis of interim reporting for participating firms.
Timelines and approach
Data submissions for the testing period will commence with end October 2018 data being collected in November 2018. During this time, the PRA110 should be submitted with existing FSA047 and FSA048 returns.
- For firms currently reporting FSA047 and FSA048 on a monthly basis, please report the PRA110 as at the calendar month end. The submission is due within 15 business days of the reporting date.
- For firms currently reporting FSA047 and FSA048 on a weekly basis, please report the PRA110 once per month, reporting data as at the last Friday of the month (in line with the FSA047 and FSA048 returns). The submission is due within 15 business days of the calendar month end.
Firms should submit the PRA110 on the following reporting basis:
- submit on an all-currency basis and for the three single largest material currencies, or fewer if appropriate; and
- submit PRA110 only for material UK subsidiaries (these will be selected in consultation with firms’ supervisors).
This will enable firms to:
- assess their own internal processes for the production of the PRA110 returns;
- assess that in-scope submissions pass the Gabriel blocking validation rules; and
- demonstrate the accuracy of their PRA110 data ahead of FSA047 and FSA048 being switched off.
How to submit PRA110
To assist firms with their submission of PRA110, we published v3.0.0 of its XBRL taxonomy, data point model (DPM) and related technical artefacts on Friday 20 April 2018 (see below). We are aiming to have firms submit the PRA110 returns in the XBRL format via Gabriel.
How to contact us during the interim reporting period
We will collate questions from participating firms before issuing any updates to FAQ as and when common queries arise. This will also be supplemented by individual periodic responses from supervisors.
Please email questions to your supervisors and copy in LiquidityPillar2ReportingProjectQueries@bankofengland.gsi.gov.uk.
10 July: We published an amended Branch Return Form. We will shortly consult on the change to the existing form. Until then, we would be grateful if firms are able to use the amended form from now onwards. See Branch Return Form below.
5 July: We published v3.1.0 of the Bank of England Banking XBRL taxonomy, alongside related technical artefacts. This taxonomy is to be used for MREL reporting which follows Policy Statement 11/18 ‘Resolution planning: MREL reporting’, published on 13 June 2018. This will take effect from Tuesday 1 January 2019.
Please note: the BEEDS system will be used to collect MREL reporting data. The Bank will contact firms to request some basic details to grant access to the BEEDS portal. This will include a request for the nomination of a ‘principal user’ who will be the main contact for the firm with respect to BEEDS, register additional users, and submit returns. Firms should ensure they respond to the request by the deadline given, even where the principal user for MREL reporting is an existing user of BEEDS. Following this, further instructions on how to access BEEDS and an information guide will be sent directly to the nominated principal user.
13 June: We published Policy Statement 11/18 ‘Resolution planning: MREL reporting’ and Supervisory Statement 19/13 UPDATE ‘Resolution planning’. The appendix to the updated SS19/13 includes MREL reporting templates and guidance that will take effect from Tuesday 1 January 2019. For submission purposes, firms are referred to the Bank’s website for the MREL-related taxonomy and any additional materials and updates. As noted on 3 May 2018, we will aim to publish the final version of the taxonomy and DPM in Summer 2018.
In preparation, the Bank will contact firms to request some basic details to grant access to the BEEDS portal. This will include a request for the nomination of a ‘principal user’ who will be the main contact for the firm with respect to BEEDS, register additional users, and submit returns. Firms should ensure they respond to the request by the deadline given, even where the principal user for MREL reporting is an existing user of BEEDS. Following this, further instructions on how to access BEEDS and an information guide will be sent directly to the nominated principal user.
3 May: We published a public working draft (PWD) of the standalone MREL reporting taxonomy that will make up part of the Bank’s Banking XBRL taxonomy, alongside related technical artefacts. The taxonomy, data point model (DPM) dictionary, annotated templates and validation rules represent the requirements for MREL reporting, as mentioned in Consultation Paper 1/18 'Resolution planning: MREL reporting'. Firms and software vendors are invited to provide feedback on the PWD of the taxonomy and DPM artefacts by 17 May 2018. We will aim to publish the updated Banking XBRL taxonomy in Summer 2018 See the Taxonomy section below for more information. Please note: the BEEDS system will be used to collect MREL reporting data.
30 April: Alongside PS8/18 ‘Pillar 2: Update to reporting requirements’ we published:
- PRA111 data item and instructions
- Updated Guidance on terms used in data items FSA071 to FSA082, and PRA111*
- Updated Pillar 2 reporting schedule
*Note: the effective version as at 30 April 2018 is available under ‘Other FSA data item related documents. The version effective from 1 January 2019, which incorporates reporting for ring-fenced banks, is available under ‘RFB data items and instructions’
26 April: We published v1.0.1 of the financial statements XBRL utility that contains a fix for the commonly reported bug in v1.0.0, where the incorrect firm reference number (FRN) was being entered into the XBRL code. See the 'Capital+ XBRL utility and financial statements XBRL utility' section below.
20 April: We published v3.0.0 of the Bank of England Banking XBRL taxonomy, alongside related technical artefacts. This includes the taxonomy for ring-fencing which follows Policy Statement 3/17 ‘The implementation of ring-fencing: reporting and residual matters – responses to CP25/16 and Chapter 5 of CP36/16’ published on 1 February 2017, and the taxonomy for Pillar 2 liquidity (‘Pillar 2’) which follows PS2/18 ‘Pillar 2 liquidity’ published on 23 February 2018. Please note: the GABRIEL system will be used to collect Pillar 2 reporting data and the ring-fencing data.
The taxonomies for financial statements and Capital+ reporting are unchanged from v2.0.0 of the Bank of England Banking XBRL taxonomy.
7 March: We published a public working draft (PWD) of v3.0.0 of the Bank of England Banking XBRL taxonomy, alongside related technical artefacts. This includes the taxonomy for Pillar 2 liquidity (‘Pillar 2’) which follows Policy Statement (PS) 2/18 'Pillar 2 liquidity' published on 23 February 2018 and the taxonomy for ring-fencing which follows PS3/17 'The implementation of ring-fencing: reporting and residual matters - responses to CP25/16 and Chapter 5 of CP36/16' published on 1 February 2017. The taxonomy, data point model (DPM) dictionary, annotated templates and validation rules represent the requirements for reporting of Pillar 2 data as set out in PS2/18 and for ring-fencing data as set out in PS3/17. Firms and software vendors are invited to provide feedback on the PWD of the technical artefacts by Tuesday 20 March 2018. We will aim to publish the final v3.0.0 Bank of England XBRL taxonomy in April 2018. See the Taxonomy section below for more information. Please note: the GABRIEL system will be used to collect Pillar 2 reporting data and the ring-fencing data.
The taxonomies for financial statements and Capital+ reporting are unchanged from v2.0.0 of the Bank of England Banking XBRL taxonomy.
23 February: We published PRA110 template and reporting instructions alongside PS2/18 ‘Pillar 2 liquidity’ and SS34/15 ‘Guidelines for completing regulatory reports’. The PRA110 template and reporting instructions will take effect from 1 July 2019. For information and updates on upcoming public working drafts and taxonomies, please refer to this page.
Separately, we also made minor updates to RFB001 - RFB008 instructions. The ‘Units’ section in each set of reporting instructions has been updated to clarify the precision required for reporting.
7 February: The Bank of England Electronic Data Submission (BEEDS) user guide has been updated to incorporate changes that have been made as part of ongoing system maintenance, as well as important information regarding account practices. Credit unions using the BEEDS portal should familiarise themselves with this document.
BEEDS portal user guide - Credit unions
31 January: Minor updates have been made to PRA102 instructions and PRA103 instructions. Following receipt of the first PRA102 and PRA103 returns and queries from firms, we have provided more clarity in the ‘Reporting periods’ section on which columns firms should complete. Expanded examples of reporting annual and semi-annual data are also included.
17 January: In CP13/17 ‘Pillar 2 Liquidity’ the PRA proposed to introduce a new liquidity reporting template (PRA110) to support the cash flow mismatch risk (CFMR) framework. Having considered responses, the PRA has decided to postpone the proposed introduction of PRA110 by 6 months, from 1 January 2019 to 1 July 2019. The interim reporting, proposed to start in March 2018, is also delayed by 6 months to at earliest September 2018. As proposed in CP13/17, the PRA intends to terminate the FSA047 and FSA048 returns at the same time the PRA110 is implemented. In case of any delay in the implementation of the PRA110, the PRA will delay the proposed termination of the FSA047 and FSA048 returns. The FSA047 and FSA048 termination remains linked to the implementation of the PRA110.
