PRA clarifies encumbered and unencumbered asset disclosure waiver: PRA has issued a supervisory statement laying out its expectations regarding firms' compliance with EBA's Guidelines on disclosure of encumbered and unencumbered assets. The supervisory statement sets out PRA's plan to waive the requirement to disclose Template B of the EBA Guidelines for firms which satisfy one of three criteria. These are that:

  • both conditions laid down in Article 94(1) CRR regarding the size of both on and off balance sheet trading book business are met;
  • the fair value of collateral received by the firm in the form of debt securities has not exceeded £100 billion for any single reporting reference date in the 12 months before the one in question; and
  • the arithmetic mean of the fair value of collateral received by the firm in the form of debt securities, calculated using monthly data on a rolling basis over 12 months immediately preceding the reporting reference date, is less than £100 billion.

Firms need not apply for the waiver but must be confident they meet its conditions. (Source: PRA Clarifies Waiver on Unencumbered and Encumbered Asset Disclosure)

PRA publishes Solvency 2 reporting schedules: PRA has published the Solvency 2 non-December year end reporting schedules. (Source: Solvency 2 Non-December Year End Reporting Schedules)

PRA clarifies COREP completion procedure: PRA has clarified the procedures for completing the COREP (common reporting) section addressing own fund requirements related to Pillar 2 adjustments. (Source: PRA Clarifies COREP Completion Procedure)