DNB is calling on Dutch investment firms to participate in the EBA data request for development of technical standards under the new prudential regime for investment firms. The technical standards would be for implementation of the new requirements from the Investment Firms Directive and Regulation (IFD and IFR), which will come into force in EU on June 26, 2021. EBA has received multiple mandates to further specify the prudential requirements in technical standards. For example, EBA is required to set standards for the reporting templates and the calculation of K-factors. The first draft standards are expected to be publicly consulted between May and July 2020.
EBA expects to distribute the data request via DNB to investment firms in early May. Participation in the data request is not mandatory for investment firms. Participants could submit the data two months later in the Digital Reporting Window. Post that, EBA and DNB may ask questions about the data, after which participants can still adjust their data delivery. EBA will then carry out its impact analysis with this data. This process could be somewhat dependent on further developments regarding the COVID-19 pandemic.
The Investment Firms Directive and Regulation replace the prudential requirements from the Capital Requirements Directive and Regulation (CRD and CRR) for most investment firms. The largest and systemically important investment firms remain subject to the same framework as banks under the CRD and CRR. This concerns investment firms with at least EUR 15 billion in assets at group level (excluding outside EU subsidiaries). In addition, the supervisor may decide to declare the CRD and CRR applicable to investment firms with at least EUR 5 billion in assets if the firms are assessed as systemically important.
Keywords: Europe, Netherlands, Banking, Securities, IFR, IFD, Data Collection, Reporting, K-Factor Regime, Investment Firms, EBA, DNB
Previous ArticleBoE Publishes Version 2.0.0 of Capital+ XBRL Utility
Next ArticleDNB Releases Multiple Reporting Updates for Banks
The European Banking Authority (EBA) published the final guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate parent undertakings in European Union (EU), as laid down in the Capital Requirements Directive (CRD).
In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.
The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.
The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.
The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.
The European Securities and Markets Authority (ESMA) published recommendations from the Working Group on Euro Risk-Free Rates (RFR) on the switch to risk-free rates in the interdealer market.
The European Commission (EC) announced plans to defer the application of 13 regulatory technical standards under the Sustainable Finance Disclosure Regulation (2019/2088) by six months, from January 01, 2022 to July 01, 2022.
The European Insurance and Occupational Pensions Authority (EIOPA) proposed to amend the supervisory statement on supervision of run-off undertakings that are subject to Solvency II regulation.
The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.
The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.