Responses to Chapter 3 of CP17/16 - forecast capital data

Overview

This Prudential Regulation Authority (PRA) policy statement (PS) provides feedback to responses received to the forecast capital data proposals in Chapter 3 (paragraphs 3.19 – 3.33) of Consultation Paper (CP) 17/16 ‘Regulatory reporting of financial statements, forecast capital data and IFRS 9 requirements’ (the ‘CP’). In relation to capital data, in CP17/16, the PRA proposed formalising the collection of the existing Capital+ (forecast capital resources and requirements) return through the introduction of three new returns (PRA101-PRA103).

The appendices to this PS contain the final rules (Appendix 1), Supervisory Statement 34/15 (Appendix 2) and templates and instructions (Appendix 3) for the new reporting requirements relating to forecast capital (Capital+) data in the Regulatory Reporting Part of the PRA Rulebook. The templates and reporting instructions are also available on the ‘CRD firms - Reporting Requirements’ webpage.

The PS is relevant to PRA-authorised banks, building societies and designated investment firms.

Implementation

As set out in the PS (paragraph 1.8), the PRA will publish details of the systems which will be used by firms to report the new returns by Tuesday 31 January 2017 on the ‘CRD firms - Reporting Requirements’ webpage. The data items in Appendix 3 are for information only, to give firms early sight of the information that will be required for Capital + returns. 

The PRA confirms that the implementation date of the formalised reporting has been deferred from 1 July 2017 to 1 October 2017.

Further policy

CP17/16 also included proposals relating to the future reporting requirements for balance sheet and statement of profit or loss (P&L) data (Chapter 3, paragraphs 1-18). The PRA is deferring publication of the final requirements to harmonise them with upcoming changes relating to International Financial Reporting Standard 9 (IFRS 9) and taxonomy 2.7. This should help to minimise the impact on firms resulting from these changes.

Chapter 4 of CP17/16 was a discussion chapter on data requirements resulting from the introduction of IFRS 9. A formal consultation paper on the resulting proposals relating to IFRS 9, and the final policy following proposals on balance sheet and statement of P&L in CP17/16, will be published shortly. 

Policy Statement 32/16

Appendices

1. PRA Rulebook: CRR firms: Regulatory reporting amendment instrument 2016
2. Supervisory Statement 34/15
3. Capital+ templates (PRA101-PRA103) and instructions:

PRA101
Capital + actuals and forecasts

Data item

Instructions

PRA102
Capital + forecast semi-annual

Data item

Instructions

PRA103
Capital + forecast annual

Data item

Instructions