14.1 The PRA proposed to update the Regulatory Reporting Part of the PRA Rulebook and amend SS34/15. These proposals reflected changes to prudential risk methodologies proposed in CP5/21, and were aimed at increasing the alignment of data requirements and definitions between the reporting and disclosure requirements. Specifically, the PRA proposed to update core reporting (COREP) and financial reporting (FINREP), through a combination of new returns and amendments to existing reporting requirements. In doing so, the PRA proposed to align with the majority of the changes contained within EBA Taxonomy 3.0, to ensure that firms report to the PRA under a consistent taxonomy, in a proportionate manner.

14.2 The key proposals included:

• introducing new reporting templates and making minor changes to existing reporting templates on IRB credit risk;

• introducing new reporting templates, and making minor changes to existing reporting templates on counterparty credit risk;

• replacing existing stable funding reporting with new templates on the NSFR approach, including simplified reporting templates for certain firms;

• deletion of the C66 maturity ladder template;

• not introducing any additional reporting on total loss-absorbing capacity (TLAC), and instead using existing PRA reporting templates on TLAC to avoid any additional burden on firms;