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
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