The PRA confirmed the deletion of 37 banking regulatory reporting templates in policy statement PS27/25, published on 8 December 2025.
This follows consultation paper CP21/25, in which the PRA proposed targeted deletions as part of the first phase of its Future Banking Data (FBD) programme.
The changes aim to reduce firms’ reporting burdens, consolidate Financial Reporting (FINREP) scoping provisions, and lay the groundwork for a more modernised regulatory reporting framework.
In this article
What does this mean?
The PRA is implementing the CP21/25 proposals as consulted, with only minor drafting clarifications to the Rulebook text. The PRA has also updated Supervisory Statement SS34/15 - Guidelines for completing regulatory reports to reflect these changes.
The deletions target templates considered duplicative, outdated, or of limited supervisory value. The changes are part of the FBD programme's broader aim to reduce firms’ reporting burdens and improve the relevance, quality and timeliness of data collection.
Feedback from industry
Respondents unanimously supported the deletions and consolidation, citing clarity and efficiency. Some encouraged more extensive reforms, including reviewing Pillar 3 templates and the broader FINREP framework. While these wider suggestions are out of scope for now, the PRA noted they will inform future FBD phases.
Some respondents questioned whether the PRA’s estimated cost savings fully reflected the operational and technology effort required to implement the changes. The PRA has chosen not to revise its cost‑benefit analysis (CBA). CBA at this stage but has signalled that it will seek to refine its approach to estimating reporting costs and benefits – including through further engagement and a forthcoming discussion paper.
Scope and applicability
The changes apply to PRA-authorised UK banks, building societies, designated investment firms, and qualifying parent undertakings. They do not apply to credit unions.
The PRA sets a 30-business-day remittance deadline for financial information reported under Article 430(3), Article 11(2) and the new Chapters 5A–5F of the Reporting (CRR) Part, aligning timelines across full and reduced FINREP.
Templates deleted
Key deletions include:
34 FINREP templates, including those related to:
Off-balance sheet exposures (e.g. F 09.01.1, F 09.02).
Impairments and forbearance (e.g. F 12.02, F 19.00, F 26.00).
Collateral and write-offs (e.g. F 13.01, F 23.06).
Staff costs and net defined benefit plans (e.g. F 44.01 to F 44.03).
Two common Reporting (COREP) templates:
C 05.01 (Transitional Provisions).
C 05.02 (Grandfathered Instruments).
PRA109 (Operational Continuity in Resolution),with SS34/15 updated and the Operational Continuity Reporting chapter removed. with some duplicating Whole of Account Reporting (WAR) or other datasets.
Examples listed above are representative of the final package; the complete list and codes are set out in Appendix 4 - Final summary table.
Consolidation of rules
Remainng FINREP requirements are consolidated into a single section of the PRA Rulebook - the Reporting (CRR) Part now contains Chapters 5A–5F for reduced FINREP firms, making it easier for firms to understand and comply with the streamlined reporting obligations.
The PRA also updates the waiver framework for individual UK FINREP reporting. Where a UK bank or building society is part of a UK consolidation group (other than a ring‑fenced group), the PRA may waive individual UK FINREP templates listed in SS34/15 if, in the two most recent successive reporting periods, a single entity contributes between 90% and 95% of the group’s total assets (calculated net of intra‑group assets), subject to supervisory judgement on business‑model alignment. Any granted waiver applies only to individual reporting; affected templates must still be submitted at the consolidated level.
What do firms need to do?
Map firm and entity-level reporting obligations to the new reduced FINREP regime and revised data items.
Align reporting processes, systems, controls and governance with the streamlined templates and re-mapped data flows.
Assess the implications for Pillar 3 disclosures and dual UK/EU FINREP reporting and consider the impact of potential further divergence.
The PRA’s decision to proceed with deletions as proposed in CP21/25 marks a further step in the transformation of banking data collection under the FBD programme. While the immediate impact of PS27/25 is targeted and technical, it sets a clear regulatory direction towards simplification, proportionality and long-term cost efficiency in supervisory reporting.
Firms should take stock of internal reporting processes, identify where duplication or misalignment exists across prudential and statistical reporting, re-map data flows where deleted templates feed other returns, and consider how to consolidate data sourcing and controls.
Group structures that meet, or may soon meet, the 90–95% asset concentration threshold should evaluate whether a waiver from individual FINREP reporting could be appropriate. They will need to assemble quantitative evidence on asset concentrations and prepare qualitative analysis showing sufficient alignment between the dominant entity’s business model and the wider group.
Firms with EU entities should engage early with supervisors to discuss transitional approaches where UK deletions create divergence from EU FINREP or group reporting. In parallel, the potential review of Pillar 3 templates, suggested by respondents and noted by the PRA, would present both a future risk and a strategic opportunity to streamline disclosures and remove redundancy across regimes.
Next steps
Changes take effect for reporting reference dates falling on 31 December 2025. The PRA will consider refining its CBA data-collection inputs following a forthcoming FBD discussion paper, which will set out reporting principles to support pragmatic, incremental changes to bank reporting over the coming years.
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