The UK CRR/CRD IV include a reporting framework for Financial Reporting (FINREP) and Common Reporting (COREP). Find out more about the supervisory reporting frameworks, including guidelines and templates.
- Common Reporting (COREP) covers the capital requirements and own funds reporting required in the UK.
- Financial Reporting (FINREP) covers financial reporting for supervisory purposes based on International Accounting Standards (IAS)/International Financial Reporting Standards (IFRS), as required in the UK.
Content of UK CRR reporting
The UK CRR and its related binding technical standards (BTS) set out the scope, frequency and remittance for UK CRR reporting. This includes the guidance, templates and validation required for reporting to supervisors.
BTS made under the CRD/CRR are relevant to firms and individuals supervised by us and the Prudential Regulation Authority (PRA).
With respect to the CRD and CRR, all the relevant BTS mandates have been brought into UK law, with responsibility for meeting these mandates transferred to us and the PRA. For details of changes to the relevant BTS, please refer to the relevant consultations and Policy Statements on our publications page.
The European Banking Authority (EBA) developed supporting reporting documents that remain relevant as they cover the following UK CRR requirements:
- Art. 99 UK CRR: Own Funds Reporting (Annex I, II of the ITS)
- Art. 99 UK CRR: Accounting information – FINREP (Annex III, IV, V of the ITS). Please note that currently we are not adopting FINREP for those firms not using IFRS
- Art. 99 UK CRR: Counterparty credit risk
- Art. 99 UK CRR: Mortgage losses (Annex VI, VII of the ITS)
- Art. 394 UK CRR: Large exposures (Annex VIII, IX of the ITS)
- Part Six: Title II & Title III CRR: Liquidity Coverage and Stable Funding (Annex XII, XIII of the ITS)
- Art. 430 UK CRR: Leverage Ratios (Annex X, XI of the ITS)
In addition to the list above, firms should be aware that there are open, pending and closed consultations that will generate additional reporting. We and the PRA may develop reporting frameworks for these items. We advise firms to closely monitor our website and the PRA’s website.
Objectives of the requirements
The UK CRR contains specific mandates for us and the PRA to develop standards for supervisory reporting.
These will help to enhance consistency of formats, frequencies and dates of prudential reporting, as well as IT solutions to be applied by firms.
Reporting requirements ensure that there is fair competition between credit institutions and investment firms, which will lead to more efficient working and more joined-up supervisory practices.
Changes to Gabriel reporting under COREP and FINREP (as per UK CRR)
|
Data items replaced for UK CRR firms |
Data items that remain for UK CRR firms but application differs under UK CRR rules |
Data items retained for CRD III firms |
Data items unaffected by COREP/FINREP |
|---|---|---|---|
|
COREP Own Funds FSA003 - Capital Adequacy FSA004 - Credit Risk FSA005 - Market Risk FSA007 - Operational Risk FSA028 - Non-UK Sub groups FSA045 - IRB Portfolio Data FSA046 - Securitisation FSA058 – Securitisation
COREP LE FSA008 - Large Exposures
FINREP IFRS 1 FSA001 Balance Sheet FSA002 Income Statement
|
FSA005 - Market Risk: Only 2 data elements for Capital Add-ons will be completed FSA006 - Market Risk (supp.): Retained to support RNIV Framework FSA045 - IRB Portfolio Data: Guidance will change FSA018 – UKIGs Large exposures: Guidance will change as this will be applied to entities with Core UK Group and Non-Core LE Group Waiver
(Applies to PRA Firms Only At Present) |
FSA001 Balance sheet on a consolidated and solo basis FSA002 Income Statement on a consolidated and solo basis
FSA003 - Capital Adequacy FSA004 - Credit Risk FSA005 - Market Risk FSA007 - Operational Risk FSA028 - Non-UK Sub groups FSA058 – Securitisation |
CRD:
FSA001 Balance Sheet 2 FSA002 Income Statement 2 FSA014 - Forecast data FSA015 - Sectoral analysis FSA016 - Solo consolidation FSA017 - Interest rate gap FSA019 - Pillar 2 Questions
LIQUIDITY FSA011, 047 – 055
Non CRD: FSA029 - 042 Payment Services: FSA056 / 057 MLAR RMAR Complaints
all other data items not explicitly mentioned are unaffected |
1 Only for firms reporting on IFRS consolidated group basis and also subject to other UK CRR rules that put them within the scope of FINREP reporting.
2 Solo reporting remains for all but these data items are only reported on a consolidated basis where the firm is not subject to reporting FINREP.
Data point model and taxonomy
To ensure supervisory reporting requirements are implemented consistently, the templates described in the annexes have been translated into a data point model (DPM), which in turn is used to generate the taxonomy.
The DPM is a structured representation of the data, identifying all the business concepts and its relationships, as well as validation rules. The taxonomy is the vehicle that enables data to be shared in line with the DPM structure.
These are artefacts that were originally developed by the EBA and, along with the accompanying documentation, contain all the relevant technical specifications necessary for developing an IT reporting solution. Firms should make sure they keep up to date with any changes to these artefacts.
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