Revised CAR reporting format automated: SBP

The State Bank of Pakistan has automated the revised Capital Adequacy Returns (CAR) reporting format under Basel III on Data Acquisition Portal - DAP Portal. According to SBP circular BPRD Circular No. 08 of 2015, the SBP has issued instructions for the implementation of Basel III in Pakistan pertaining to eligible capital and the related deductions. Accordingly, the CAR reporting format was also revised in line with Basel III instructions and communicated to the banking industry through emails for submission of quarterly/audited annual CAR returns.
Now, the revised CAR reporting format under Basel III has been automated on the DAP Portal, which will replace the existing automated CAR reporting under Basel II. As such, all the banks and DFIs have been advised to submit quarterly unaudited Basel III CAR returns, on consolidated as well as on stand-alone basis, in hard copy format and upload the same on DAP portal within 14 working days from the close of each calendar quarter.
In addition, banks and DFIs have been asked to submit annual audited Basel III CAR returns, on consolidated as well as on stand-alone basis, in hard copy format and upload the same on DAP portal within three (3) months from the close of each calendar year. As per new directives, banks and DFIs will be required to discontinue submission of CAR returns based on Basel II instructions both in the hard copy format as well as uploading of the same on DAP portal. The SBP has directed banks and DFIs to comply with these instructions with immediate effect.