With respect to reporting by banks, Bundesbank updated information on the additional validation rules, including the changes that were made to the existing ECB checks and are valid from second quarter of 2020. In this version, a new Version History worksheet has been added and a typo in the rule EGDQ_0500 has been corrected. Also published was the additional information on plausibility checks for large exposures and these are valid from the reporting date of June 30, 2020.
The responsible head offices or joint supervisory teams will inform institutions about the violation of these validation rules. ECB has formulated data quality requirements for uniform supervision in the Single Supervisory Mechanism. These requirements are being checked against five criteria: punctuality, completeness, correctness and consistency, continuity, and plausibility. The correctness check involves compliance with the validation rules (XBRL and non-XBRL) according to EBA publications and additional audits by ECB.
Related Links (in German)
Keywords: Europe, Germany, Banking, Reporting, Plausibility Checks, COREP, SSM, Data Quality Checks, Large Exposures, Validation Rules, ECB, Bundesbank
HKMA announced that enhancements will be made to the Special 100% Loan Guarantee of the SME Financing Guarantee Scheme (SFGS) and the application period will be extended to December 31, 2021.
EBA launched consultations on the regulatory and implementing technical standards on cooperation and information exchange between competent authorities involved in prudential supervision of investment firms.
BoE has set out a three-phased plan to transform data collection from the UK financial sector over the next decade.
BIS recently made a couple of announcements with respect to the planned and ongoing work in the area of financial technology.
ESRB updated the list of national macro-prudential measures applied by each member state in the European Economic Area.
BoE has set out results of a survey on the impact of COVID-19 events on the use of machine learning and data science.
In response to a request from the European Council and Parliament, ECB published an opinion on the proposed regulation on markets in crypto-assets.
APRA announced the updated aggregate amounts for the 2021 Committed Liquidity Facility (CLF) established between the Reserve Bank of Australia (RBA) and certain locally incorporated authorized deposit-taking institutions that are subject to the Liquidity Coverage Ratio (LCR).
ECB published supervisory Memorandums of Understanding (MoUs) with UK as well as other European and non-European authorities.
EIOPA identified business model sustainability and adequate product design as the two EU-wide strategic supervisory priorities.