April 8th, 2019
The PRA have published Consultation Paper (CP)8/19, which sets out its proposals for changes to the format and content of the Branch Return Form (the Return), and additional guidance to assist firms in completing it.
The PRA proposes to:
- Provide guidance for completion of the Return in SS34/15 alongside the other reporting guidance for deposit takers and investment firms;
- Align balance sheet concepts used in the Return with concepts and guidance used in the PRA’s wider reporting framework, eg by requiring assets to be broken down into the standard categories of ‘Loans and advances’, ‘Derivatives’ etc;
- Amend the reporting content, slightly reducing the number of data points reported by most firms;
- Clarify that firms must report within 30 business days; and
- Replace the current Excel reporting format for the Return with the XBRL reporting format
The consultation closes on Sunday 7 July 2019.
The PRA proposes that the changes to the Return take effect for the reporting of the H1 2020 Branch Return, ie for the period ending 30 June 2020.
Further details can be found on the Bank’s website here.