Requirements for Banking Services Reporting

Reporting Deadlines

Note: Banks are now required to report based on their fiscal year rather than the calendar year quarter end. For detailed information, please refer to the reporting schedule.

Documents Required for Reporting 

All banks regulated under the Cayman Islands’ Banks and Trust Companies Act are required to submit the following documents to Cmrai:

• Quarterly Prudential Returns as mandated by Section 17(1)(b) of the Banks and Trust Companies Act.
• Annual Audited Accounts as stipulated in Sections 12(2) and 12(3) of the Banks and Trust Companies Act.

Basel II and E-Reporting for Quarterly Prudential Returns

All Quarterly Prudential Returns must be submitted through the Basel II and QPR Portal.

The Basel II and Quarterly Prudential Return (QPR) form can be submitted either in Microsoft Excel format or in XBRL format. Submissions are made via a web-based portal, which checks each submission against validation rules to ensure data accuracy. If any validation rule fails, the form will be returned to the submitting bank with an error message. The bank will then need to correct the errors and resubmit the form through the Cmrai web portal.

Note: After opening the Basel II and QPR form and enabling macros, you must complete the first sheet (titled "000. Cover Sheet") with the appropriate selections to display the specific forms required. Branches are only required to complete Section A of the Cover Sheet and sheets 050-060 of the Basel II Forms and QPRs. Only submissions that are valid (i.e., free of errors) and marked as ‘Live’ will be accepted by the Authority as the Bank’s official quarterly return report. The Form BS and Reporting Schedules will no longer be accepted via email.

Extensions for Filing

In certain situations, banks may request an extension from Cmrai for the filing deadline of required documents.

Procedure for Requesting Extensions

Extension requests must be submitted in writing to Cmrai via email or post, addressed to the Head or Deputy Head of Banking Supervision, at least seven calendar days before the due date.

Cmrai will review the extension request in accordance with its ‘Procedure for the Granting of Extensions for the Filing of Supervisory Reports’ (See Regulatory Handbook Appendices, section F2).

Extensions for Filing Audited Financial Statements

As of 1 January 2013, Cmrai charges a non-refundable fee for extension requests for the filing of audited financial statements. Refer to the Current Fee Schedule for details.