The PRA110, introduced to build upon existing liquidity returns including LCR and NSFR& C66.00, and to replace the existing FSA 47/48, requires the acquisition of additional data of greater granularity to facilitate the monitoring and measurement of daily cashflow mismatches.
The requirement is applicable to all UK Banks, Building Societies and PRA designated investment firms to report on a weekly or monthly basis depending upon an asset threshold of €30 billion – although more frequently in times of stress.
This return is due to come into force in July 2019 however the regulator has requested a number of firms to submit in Q4 2018.
Lombard Risk’s clients who have been impacted by this request are able to meet this commitment as a result of the early provision of a PRA 110 solution.
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The PRA110 involves the measurement of a number of areas of liquidity risk additional to those currently captured such as Low Point Risk, HQLA Monetisation Risk etc. This will in turn involve implications for data collected and reported. For example, Retail Deposits split by more granular criteria, Retail Inflows split by Principal and Interest and greater off-balance sheet coverage of contingency items.
Andrew Kesbey, Solutions Director, Lombard Risk commented
“Our ability to supply this solution ahead of the general implementation is testament to the far sightedness of our regulatory roadmap and an indication of our commitment to support our clients in such exceptional circumstances.”
The PRA110 is one of the key regulatory considerations for all impacted firms over the next few months and Lombard Risk is happy to be able to facilitate both the early adoption of this requirement and advance planning for those starting to report in 2019.
Lombard Risk also announced that, in addition to the fully automated, end-to-end solution,they would offer the PRA 110 on their Cloud platform for clients who required tactical assistance in this area as well asfirms who were not currently regulatory clients.This will allow firms instant access to the templates together with associated validations and XBRL formatting. Lombard Risk will also make available the Review Workflow and Analytics capabilities of its Agile REPORTER platform as part of this cloud offering.