UK Regulator Consults on Reporting of Financial Statements and Forecast Capital Data
The Prudential Regulation Authority published a consultation paper on regulatory reporting of financial statements, forecast capital data and IFRS 9 requirements, setting out the PRA’s proposals on future reporting of balance sheet, statement of profit and loss and forecast capital data. The consultation paper is relevant to PRA-authorized banks, building societies and designated investment firms. It also outlines proposals for reporting of P&L data by non-EEA banks that are authorized to accept deposits through a branch in the United Kingdom. The proposals are part of the PRA’s execution of its strategy for the collection of valid, accurate and meaningful information, including a review of reporting requirements to assist the PRA in gaining the information required to engage in judgement-based supervision. Balance sheet and P&L data assist the PRA in its macro-prudential and monetary policy analysis. Responses to the consultation are due by July 29, 2016.
View the consultation paper.