Regulatory reporting: EBA Taxonomy 2.9

Published 7 August 2019

Regulatory reporting: EBA Taxonomy 2.9 - PS16/19

Overview

This Prudential Regulation Authority (PRA) Policy Statement (PS) follows Consultation Paper (CP) 19/18 ‘Regulatory reporting: European Banking Authority Taxonomy 2.9’ (see page 2 of 2). It sets out the final rules updating the PRA reporting requirements for ring-fenced bank reporting, Capital+ reporting and the scope of Financial Reporting (FINREP) to be reported by certain firms that are not currently required under the Capital Requirements Regulation (575/2013) (CRR) to report FINREP. The PRA received no responses to the CP. 

This PS is relevant to UK banks and building societies as well as PRA-designated UK investment firms. It is not relevant to UK branches of firms in other European Economic Area (EEA) countries and non-EEA countries, or to insurance firms.

This PS should be read alongside the Implementing Technical Standards Amending Regulation (EU) No 680/2014 on Supervisory Reporting Opens in a new window and the associated amending regulation. The FINREP templates and instructions can be found on the European Banking Authority website Opens in a new window.

In the CP the PRA proposed the following changes to the reporting requirements contained in the Regulatory Reporting and Glossary Parts of the PRA Rulebook: 

1. update the content of ring-fenced bank template RFB004 to reflect selected changes that the European Banking Authority (EBA) has proposed to FINREP;
2. update the content of templates PRA101, PRA102, and PRA103 to reflect selected changes that the EBA is proposing, or has previously made to Common Reporting (COREP); and
3. add new non-performing loan (NPL) templates to the scope of FINREP reporting required from firms that are not currently required under the CRR to report FINREP.

Changes to draft policy

The EBA has made a number of changes to FINREP and COREP following its consultation on amendments to the Implementing Technical Standards (ITS) on supervisory reporting. The PRA has correspondingly made some minor changes to the proposals in CP19/18 in line with the process set out in paragraph 1.10 of that CP.

The additional changes are the:

• deletion of the proposed new row 212 on prepayment fees on loans granted in RFB004g;
• promotion of the proposed new sub-row 040 on taxes and duties in RFB004i from an ‘of which’ item of Information Technology expenses to a stand-alone row; and
• addition of the new rows on the impact of stricter prudential requirements under Article 124 and 164 of CRR to Capital + templates PRA 101 and PRA 102. This has a minor effect on PRA 101 and no effect on PRA 102 in which the new cell is shaded grey for non-completion. 

The changes ensure that the reporting templates continue to align with firms’ COREP and FINREP reporting.

The EBA has also made a series of changes to the content of the new FINREP NPL templates to simplify and streamline these post-consultation. A small number of new rows were added to the new FINREP templates F23 and F26. The PRA does not consider these changes to alter the relevance of these templates to the scope of the FINREP extension proposed in the CP and these changes are not considered to change the nature of the templates consulted on. The PRA does not consider these changes to impact the cost-benefit analysis in CP19/18.

Implementation

The changes to the PRA Rulebook for Capital + templates PRA 101, PRA 102 and PRA 103 will take effect on Sunday 1 March 2020. 

The changes to the PRA Rulebook and SS34/15 ‘Guidelines for completing regulatory reports’ for ring-fenced bank template RFB004, and the scope of FINREP reporting required from firms that are not currently required under the CRR to report FINREP, will take effect on Monday 1 June 2020.

The policy set out in this PS has been designed in the context of the current UK and EU regulatory framework. The PRA has assessed that the policy will not be affected in the event that the UK leaves the EU with no implementation period in place. 

As these changes relate to reporting they should be read in conjunction with SS2/19 ‘PRA approach to interpreting reporting and disclosure requirements and regulatory transactions forms after the UK’s withdrawal from the EU’.

Appendices

• PRA RULEBOOK: CRR FIRMS: REGULATORY REPORTING (RING FENCE BODIES, CAPITAL + AND FINREP) AMENDMENT INSTRUMENT 2019 (pdf) Opens in a new window
• Appendix 2: SS34/15 ‘Guidelines for completing regulatory reports’
• Appendix 3: PRA101 template (PDF) Opens in a new window
• Appendix 4: PRA102 template (PDF) Opens in a new window
• Appendix 5: PRA103 template (PDF) Opens in a new window
• Appendix 6: RFB003 template (PDF) Opens in a new window
• Appendix 7: RFB004 template (PDF) Opens in a new window
• Appendix 8: RFB008 template (PDF) Opens in a new window

Some of the templates listed above subsequently been superseded, and will have been marked as such; for the current versions of all reporting templates, accompanying instructions, and their effective dates, see the Banks, building societies and investment firms page.

Note: All content for this PS is included on this webpage. If you would like a PDF version of the PS, please use the ‘Convert to PDF’ button available below.