CP21/25 – Future banking data review: Deletion of banking reporting templates
Executive Summary
The PRA's CP21/25 proposes deletion of 37 banking regulatory reporting templates—primarily 34 FINREP templates representing approximately one-third of all FINREP collections—as the first phase of its Future Banking Data (FBD) programme. This initiative aims to reduce annual reporting burden by approximately £26 million while maintaining supervisory effectiveness by eliminating duplicative, outdated, or low-value data collections.
What Changed
The PRA proposes the following regulatory deletions: FINREP Template Deletions: - Permanent deletion of 34 whole FINREP reporting templates (approximately one-third of all FINREP collections) - Consolidation of remaining FINREP requirements within a single section of the PRA Rulebook - Clarification of scoping conditions where current provisions are unclear, duplicative, or inconsistently applied - Alignment of reporting remittance dates for FINREP reporting Other Template Deletions: - Two COREP templates: C05.01 (Transitional Provisions) and C05.02 (Grandfathered Instruments) - PRA109 Operational Continuity in Resolution (OCIR) template, which became obsolete following the 2023 OCIR policy revision Rationale for Deletions: Templates proposed for deletion either lack sufficient supervis
What You Need To Do
- *Cease reporting on the 37 deleted templates effective 31 December 2025
- *Update internal systems and processes to remove validation rules and submission workflows for deleted templates
- *Revise compliance calendars to reflect aligned FINREP reporting remittance dates
- *Review Pillar 3 disclosure obligations to identify any continued requirements based on deleted FINREP templates and assess whether disclosure obligations remain despite template deletion
- *Implement rulebook changes reflecting consolidation of FINREP scoping provisions into the PRA Rulebook
- *Update supervisory statement compliance in line with amended SS34/15 – Guidelines for completing regulatory reports
Key Dates
Compliance Impact
Urgency: HIGH
Who is Affected
Summary
Consultation paper 21/25