Whether your firm has adopted one of the new approaches to credit risk introduced by the CRD on 1 January 2007, or it is taking advantage of the transitional provisions, you will have noticed some changes in the way you report to the FSA.
In addition to submitting their usual monthly or quarterly return, which will have been grandfathered from their previous regulator, firms are now required to submit data item FSA009: ‘Key data for 2007’.
Data items are the FSA’s new term for regulatory reporting forms. FSA009 contains key data required to calculate a firm’s capital adequacy under the new rules, as existing reporting formats do not allow for this.
It has a number of initial questions which allows the FSA to identify the categorisation and type of firm that is reporting, in addition to establishing whether the firm is reporting on an individual or consolidated basis. It also requires the firm to confirm whether or not it has adopted a new approach to credit risk, before providing a
