18 December 2024
5 min
Associate Consultant
On 11 December 2024, the PRA published a Consultation Paper 19/24 on their proposals to formalise regulatory reporting for liquidity risks.
The Prudential Regulation Authority (PRA) is set to implement a mandatory regulatory framework for liquidity risk reporting of major UK life insurers, effective on 31 December 2025. This builds upon the standards of liquidity risk management detailed in SS5/19 and addresses issues highlighted in the 2024 insurance supervisory priorities letter. The commitments will require more frequent and granular reporting on liquidity risk. As such, firms need to immediately begin building out their reporting capabilities to meet the challenging submission targets and daily demands of reporting under stress.
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