CP21/25 – Future banking data review: Deletion of banking reporting templates
AI Analysis
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reporting burden by approximately £26 million while maintaining supervisory effectiveness by eliminating duplicative, outdated, or low-value data collections.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)
Suggested Considerations
- *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
September 2025
- CP21/25 consultation paper published 8 December 2025
- PS27/25 (Policy Statement) published, confirming final policy 31 December 2025
- Proposed implementation date to avoid firms submitting 2025 Q4 data for deleted templates Compliance Impact
Urgency: HIGH
Who is Affected
References
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
Summary
Consultation paper 21/25