UK PRA guidelines on third-country branch reporting updated
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The UK’s Prudential Regulation Authority (PRA) has issued an updated version of its ‘Guidelines for completing regulatory reports’, taking effect from 29 December 2020.
Its supervisory statement now includes a new chapter on third-country branch reporting. This relates to non-UK deposit takers with branches operating in the UK, setting out the PRA’s requirements for regulatory reporting. These include liquid assets available to the branch; own funds at the disposal of the branch; arrangements for deposit protection, risk management and governance; and relevant recovery plans.
Access the new guidelines in full here.