DNB published the revised submission deadlines for reporting by significant and less significant banks. This update supplements the statements issued by EBA and ECB, in an effort to alleviate the reporting burden on banks amid the COVID-19 crisis. DNB also extended the ECB guidance on IFRS 9, which was issued in context of the COVID-19 pandemic, to the supervised less significant institutions.
Recently, ECB had provided significant institutions with further guidance on, and references, to the use of forecasts to avoid excessively procyclical assumptions in their expected credit loss (ECL) estimations during the COVID-19 pandemic. DNB is now extending this guidance to all Dutch less significant institutions that make use of IFRS 9 and urges them to consider the guidance provided. Additionally, DNB made the following key announcements in its recent update on submission of reports by banking institutions:
- The submission deadlines for regular supervisory reports under the implementing technical standards on supervisory reporting, the implementing technical standards on benchmarking of internal approaches, and the ECB FINREP regulation, with remittance dates between March and May-end will be extended by one month, with the exception of the liquidity coverage ratio and additional liquidity monitoring metric reports.
- The data point model version 2.9 amendments must be implemented according to the schedule communicated by EBA before.
- The submission deadline for the interest rate risk and country risk reports is was extended by one month.
- For significant institutions DNB is extending the submission deadline for the first quarter 2020 short-term exercise templates by one month and the submission deadline for the Funding Plans (under the Guidelines on Funding Plans) by two months.
DNB plans to communicate any additional changes to submission deadlines for ad hoc requests via the supervisory data request overview in the DNB newsletter for banks.
Keywords: Europe, Netherlands, Banking, ECL, IFRS 9, COVID-19, Reporting, LCR, ALMM, Deadline Extension, DPM 2.9, Interest Rate Risk, Benchmarking, FINREP, DNB
Previous ArticleHKMA Announces Publication of SA-CCR Rules in Gazette
The European Commission (EC) published a report summarizing responses to the targeted consultation on the supervisory convergence and the single rulebook in the European Union (EU).
The Office of the Superintendent of Financial Institutions (OSFI) published an update on the discussion paper that intended to engage federally regulated financial institutions and other interested stakeholders in a dialog with OSFI, to proactively enhance and align assurance expectations over key regulatory returns.
The European Central Bank (ECB) published its opinion on a proposal for a regulation on European green bonds, following a request from the European Parliament.
The Advisory Scientific Committee (ASC) of the European Systemic Risk Board (ESRB) published a report that explores the expected impact of digitalization on provision of financial and banking services, and proposes policy measures to address the risks stemming from digitalization.
The European Banking Authority (EBA) announced that the guidelines on the reporting and disclosure of exposures subject to measures COVID-relief measures shall continue to apply until further notice.
The Swedish Financial Supervisory Authority (FI) announced that the capital adequacy reporting as at December 31, 2021 must be done by February 11, 2022.
The Central Bank of the Philippines (BSP) issued communications covering developments related to online lending platforms, open finance framework and roadmap, and on the expected regulations in the area sustainable finance.
The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.
The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).
The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0.