A consultation paper (CP11/30: “Proposed Regulatory Prudent Valuation Return”) has been released by the FSA which introduces a new prudential return.
However, the good news for the majority of firms is that it is only applicable to UK banks or BIPRU 730K firms with balance sheet positions of greater than £3bn.
An example of the return can be found in chapter 3 of the consultation paper with draft Handbook text in Appendix 1 (which also includes guidance notes for completion of the return).
The consultation period ends 14 February 2012 with the intention of applicable firms having to produce regulatory valuation returns starting 31 July 2012 (based on positions as at 30 June 2012).
