DNB Revises Submission Deadlines for Reporting by Supervised Banks
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.
Related Links
- Supervisory Reporting Updates
- IFRS 9 Guidance (in Dutch)
Keywords: Europe, Netherlands, Banking, ECL, IFRS 9, COVID-19, Reporting, LCR, ALMM, Deadline Extension, DPM 2.9, Interest Rate Risk, Benchmarking, FINREP, DNB
Featured Experts
Metin Epözdemir
Metin Epözdemir helps European and African banks with design and implementation of credit risk, stress testing, capital management, and credit loss accounting solutions.
Karen Moss
Senior practitioner in asset and liability management (ALM) and liquidity risk who assists banking clients in advancing their treasury and balance sheet management objectives
Masha Muzyka
CECL, IFRS 9, and IFRS 17 expert; credit risk and insurance risk specialist; strategic planning and credit analytics solutions consultant
Previous Article
HKMA Announces Publication of SA-CCR Rules in GazetteRelated Articles
EBA Finalizes Remuneration Standards for Investment Firms in EU
EBA finalized the two sets of draft regulatory technical standards on the identification of material risk-takers and on the classes of instruments used for remuneration under the Investment Firms Directive (IFD).
ECA Recommends Actions to Enhance Resolution Planning for Banks
EC published, in the Official Journal of the European Union, a notification that the European Court of Auditors (ECA) has published a special report on resolution planning in the Single Resolution Mechanism.
BoE Publishes Key Elements of the 2021 Stress Testing for Banks in UK
BoE published a scenario against which it will be stress testing banks in 2021, in addition to setting out the key elements of the 2021 stress test, guidance on the 2021 stress test, and the variable paths for the 2021 stress test.
PRA Proposes Rules on Identity Verification of Depositor Protection
PRA published a consultation paper (CP3/21) proposes rules regarding the timing of identity verification required for eligibility of depositor protection under the Financial Services Compensation Scheme (FSCS).
FSB Publishes Work Program for 2021
FSB published the work program for 2021, which reflects a strategic shift in priorities in the COVID-19 environment.
FCA Issues Update on Move to New Data Collection Platform
FCA announced that 50% firms have started using the new data collection platform RegData, which is slated to replace the existing platform known Gabriel.
Bundesbank Publishes Derivation Rules for Reporting by Banks
Bundesbank published Version 5.0 of the derivation rules for completeness check at the form level, with respect to the data quality of the European harmonized reporting system.
FED Revises Capital Planning and Stress Testing Requirements for Banks
FED finalized a rule that updates capital planning requirements to reflect the new framework from 2019 that sorts large banks into categories, with requirements that are tailored to the risks of each category.
ECB Releases Results of Bank Lending Survey for Fourth Quarter of 2020
ECB published results of the quarterly lending survey conducted on 143 banks in the euro area.
ESAs Publish Reporting Templates for Financial Conglomerates
ESAs published the final draft implementing technical standards on reporting of intra-group transactions and risk concentration of financial conglomerates subject to the supplementary supervision in EU.
