PRA updates Branch Return guidance for foreign bank branches

The Bank of England's Prudential Regulation Authority (PRA) has published updated reporting guidance for the Branch Return form. Foreign bank branches must use the revised form for data as at 30 June 2026.

Revised reporting for foreign bank branches

All PRA-authorised branches of banks and designated investment firms with a registered office outside the UK are now required to use a revised Branch Return Form.

This updated guidance, effective for data as at 30 June 2026, clarifies the scope, defining a 'branch' as a permanent establishment habitually exercising general authority to negotiate contracts.

Returns must cover all branches in Great Britain and Northern Ireland, excluding the Channel Islands and Isle of Man.

While generally aligned with FINREP, the form incorporates specific PRA concepts for deposits, such as 'wholesale depositor' and 'smaller companies', reflecting the authority's supervisory statement SS 5/21. The guidance was last updated on 11 February 2026, with specific changes to memo items concerning retail and smaller company deposits.

Navigating specific data requirements

The guidance outlines detailed data elements, units, and currency reporting standards, requiring absolute non-truncated values and sterling equivalents for all amounts.

It clarifies that 'yellow' and 'grey' cells are not mandatory, though firms must provide transactional deposit customer data upon PRA request.

The PRA maintains an indicative threshold of five thousand customers for assessing branch risk appetite, with instant access deposit numbers primarily triggering closer investigation.

Mandatory fields include the firm reference number (FRN), legal entity name, reporting period end-date (end-June and end-December), accounting standard, and functional currency.

Validations, allowing a 1% margin of error, are provided in a separate document to ensure data quality.

Clarity with a supervisory edge

This guidance offers crucial clarity for foreign bank branches navigating complex reporting requirements, streamlining compliance with updated definitions.

However, the explicit focus on transactional deposits and risk appetite signals the PRA's ongoing scrutiny of branch structures and potential subsidiarisation.

For regulated firms, this means not just adhering to reporting standards, but also understanding the underlying supervisory priorities.