EBA published amendments to the implementing technical standards on supervisory reporting and new implementing technical standards on reporting for resolution plans, along with the corresponding Data Point Model (DPM) and eXtensible Business Reporting Language (XBRL) taxonomy. These changes form part of the EBA reporting framework version 2.8, which will be applicable for submissions of data as of December 2018. Reports with reference dates as of December 31, 2018 onward are to use the new taxonomy set (2.8), which is related to the April 2018 framework release for the implementing standards on supervisory and resolution reporting.
Amendments to standards on supervisory reporting. These implementing technical standards amend the Implementing Regulation (EU) No 680/2014 on supervisory reporting. EBA also published ten annexes, which replace the existing annexes to the Implementing Regulation (EU) No 680/2014. The updates include new information on prudent valuation for fair-valued items and supplementary information on credit risk. The amendments also include high-level information on securitization, subject to the revised securitization framework introduced by Regulation (EU) 2017/2401 amending the CRR, and revised information on selected Pillar 2 items (COREP), along with the Q&A-based changes and other minor amendments. The draft implementing technical standards will be submitted to the EC for endorsement. This regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. It shall apply from December 01, 2018.
New standards on resolution reporting requirements. The implementing technical standards on reporting requirements for drawing up and implementing resolution plans will replace the implementing Regulation (EU) 2016/1066 and bring about a clearer scope of application of the minimum resolution framework. The standards define detailed minimum procedural requirements at least on an annual basis (by the end of May in 2019 and by the end of April from 2020 onward), provide revamped templates in line with the latest experience available, and contain a full set of technical annexes to facilitate integration into banks' business processes and automation. For the first time, resolution reporting requirements are integrated into the single data point model of EBA, backed by validation rules and optional taxonomies. This regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.
Technical package for version 2.8 of the reporting framework. This package includes a set of XML files forming the XBRL taxonomy, a description of the architecture of the XBRL taxonomy, a DPM data dictionary database along with a DPM table layout and data point categorization, and a list of validation rules.
Related Link: Press Release
Previous ArticlePRA Publishes Model Risk Management Principles for Stress Testing
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.
BCBS and FSB published a report on supervisory issues associated with benchmark transition.
IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.
ESMA updated the reporting manual on the European Single Electronic Format (ESEF).
EBA published a statement on resolution planning in light of the COVID-19 pandemic.
BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework
ECB published a guideline (2020/97), in the Official Journal of European Union, on the definition of materiality threshold for credit obligations past due for less significant institutions.
FED temporarily revised the capital assessments and stress testing reports (FR Y-14A/Q/M) to implement the changes in response to the COVID-19 pandemic.