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Building Societies Regulatory reporting

Building Societies addressing pressing regulatory reporting requirements will already be preparing for Basel II,but how will this be reflected in changes to FSA reporting itself? The new capital reporting regime will, like other FSA reporting, become part of the FSA’s Integrated Regulatory Reporting process under Mandatory Electronic Reporting. Building Societies can expect to complete tables “C”, “D” etc, containing capital reporting details as set out in the draft materials in FSA DP05/01. Additionally, the new FSA reporting will contain changes to the supervisory balance sheet, income statement, arrears information, liquidity reporting, interest rate gap, large exposures (which will variously replace existing sections in MFS1 etc) and other information.

We also expect the statistical elements of the outgoing Building Society Commission returns to be replaced by the current Bank of England reporting format. Whilst the detailed timing for this has yet to be determined, it is likely to be end 2006 or early 2007

STB have been automating supervisory and statistical reporting since 1993. STB has achieved its position as the leading vendor in this market through a combination of top quality products and services, and a unique maintenance guarantee: STB is ideally suited to helping Building Societies with these new regulatory reporting requirements.

 STB-Reporter already provides automation for IRR Phase 1, including computation and reporting of (MLAR) Mortgage Lending and Administration Return and (RMAR) Retail Mediation Activities Return. STB-Reporter is also available for collection, normalisation, validation and submission of (PSD) Product Sales Data via XML for firms requiring TRS certification and system to system submission. Please contact STB for more information, or to request a demonstration of our reporting systems.


Current Building Society Returns

STB-Reporter massively reduces time spent compiling regulatory reports and eliminates errors associated with unwieldy paper or spreadsheet based audit trails. By automatically consolidating all data and applying the regulatory rules, STB removes the dependency on IT bottlenecks or on sub system modules which may only produce piecemeal outputs.Regulatory Reporting Consultants at STB know your requirements
In just a few clicks a Building Society can compute all values for Bank of England reporting including analysis of deposits, loans, balance sheet and sectoral analyses, country and currency exposures, inward and outward investments, transactions with non-residents, effective interest rates, derivatives and securities transactions, profit and loss reporting and more. For the FSA, in the same way and from the same dataset, you are only clicks away from capital adequacy, liquidity, large exposures and more. All forms are presented visually on screen as you would expect, and include screen representation of the IRR. All information is fully auditable with industry-leading double click drill downs, validations and electronic output to both the Bank of England’s current BEERS standard and to cover the requirements of the FSA’s Integrated Regulatory reporting and PSD as well.

STB-Reporter also provides the ideal reporting environment for management Systems ands Controls purposes and may be deployed for liquidity stress testing and other management information purposes.

STB's forms-handling technology is unmatched elsewhere in the industry: it makes no difference what your specific regulator’s form looks like nor what the language or character set is used. Also, STB handles double-byte data and in fact all manner of data as a natural part of our abstracted datasets. Return and cross-return validation is performed for you, allowing you to adjust any mistakes.

For comprehensive coverage of Building Societies regulatory reporting requirements, and for guaranteed maintenance of regulatory reporting for the future, please contact STB directly, or use our Information & Feedback form.

Request "STB-Reporter New UK Regulatory Reporting Requirements" for our review of how you will be affected and by when, and what planning you should do now.

Building Societies regulatory reporting

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