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
Previous ArticleESAs Respond to Proposal to Review Non-Financial Reporting Directive
EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.
EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.
MAS published the guidelines on individual accountability and conduct at financial institutions.
APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.
SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.
FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.
ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.
OSFI published the key findings of a study on third-party risk management.
FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.