November 16, 2016
The Prudential Regulation Authority (PRA) has today published a policy statement (PS) providing feedback to responses received to the forecast capital data proposals in Chapter 3 of Consultation Paper (CP) 17/16 ‘Regulatory reporting of financial statements, forecast capital data and IFRS 9 requirements’ (the ‘CP’).
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). These new returns, which are for information only (not reporting purposes), can be found in the appendices of the original press release which can be viewed here.
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 PRA confirms that the implementation date of the formalised reporting has been deferred from 1 July 2017 to 1 October 2017.