Posted on: October 22, 2025

Basel 3.1

The taxonomy for Basel 3.1 remains in draft form with comments required by 21st November. An update to the draft was made to take account of the delay to the introduction of the Market Risk Internal Models Approach. This part of Basel 3.1 will be effective from 1st January 2028. The remainder of the new regulation has its implementation date unchanged as 1st January 2027. It is hoped that a final version of the taxonomy will be available by the end of this year. Once finalised, Whistlebrook will add the taxonomy to its regulatory reporting software.

Bank of England Statistical Reporting

The Bank issued, on 3rd October, a Green Notice that proposed form BN (sectoral breakdown of non-resident business ) have its final reporting period as April 2026. Responses to the Green Notice are required by 31st December 2025.

The Green Notice can accessed from Green notice 2025/01 | Bank of England.

Consumer Credit Product Sales Data Collection

Firms that are subject to the new consumer credit reporting will be required to report as described below.

‘Large’ Firms

  • Sales during the quarter ended 30th September 2025.
  • ‘Backbook’ – sales prior to the first quarter end and still active at its commencement.
  • Performance of loans that were made after the start of the first reporting period. Data will not cover the backbook.

‘Small’ Firms

Reporting is as described for large firms, except that the first reference period is the quarter ended 31st March 2026.

‘Large’ entities are those that have reported in template CCR003 for the period 1st April 2023 to 31st March 2024, consumer credit balances of at least £20million and / or new advances, the same amount in that particular period). Institutions that have between £2million and less than £20million in balances and / or new advances, qualify as ‘small’.

Small Domestic Deposit Takers Regime (SDDT)

Whistlebrook understands that the capital requirements applicable under SDDT, will be published in the final quarter of 2025.

WIRES® Releases

Version Estimated Release Date Content
7.1 14th November 2025 Addition of Bank of England Banking taxonomy 3.7.0 for step-in risk reporting. The changes for this taxonomy may be issued under a different means and slightly earlier than the date shown.

 

Further updates will be issued in due course.

This regulatory update is Whistlebrook’s understanding of the position as at 21st October 2025.