PRA publishes Policy Statement 36/16 in Response to CP17/16

December 12, 2016

The Prudential Regulatory Authority (PRA) has published a Policy Statement (PS) 36/16 which provides feedback on responses to the financial statements proposals in Chapter 3 of Consultation Paper (CP) 17/16 ‘Regulatory reporting of financial statements, forecast capital data and IFRS 9 requirements’. This PS is relevant to PRA-authorised banks, non-European Economic Area (non-EEA) banks authorised to accept deposits through a branch in the United Kingdom, building societies and designated investment firms.

The PS also includes:

  • Final rules for the new reporting requirements relating to balance sheet and P&L data in the Regulatory Reporting Part of the PRA Rulebook (Appendix 1)
  • An update to Supervisory Statement (SS) 34/15, ‘Guidelines for completing regulatory reports’ (Appendix 2)
  • New returns and instructions (Appendices 3-5, which can be found here)

Further details can be found in the full press release here.