RBI extended, by up to 30 days, the timelines for submission of various regulatory returns to address disruption due to the COVID-19 pandemic. The extension includes regulatory returns on large exposures, exposures to a qualifying central counterparty, and certain reports under Basel III capital regulations. The extension will be applicable to regulatory returns required to be submitted up to June 30, 2020.
All regulatory returns required to be submitted by all scheduled commercial banks, payments banks and local area banks, India financial institutions, and co-operative banks to the Department of Regulation can be submitted with a delay of up to 30 days from the due date. The entities that are in a position to submit the returns earlier may continue to do so. It may be noted that no extension in timeline is permitted for submission of statutory returns—that is, returns prescribed under the Banking Regulation Act, 1949, RBI Act, 1934 or any other Act (for instance, returns related to cash reserve ratio/statutory liquidity ratio). The annex to the RBI notification further details these deadline extensions.
Keywords: Asia Pacific, India, Banking, COVID-19, Reporting, Large Exposures, Basel, Regulatory Capital, CCP Exposures, RBI
Previous ArticleOJK Publishes Regulatory Notifications Amid COVID-19 Pandemic
EU published Directive 2021/338, which amends the Markets in Financial Instruments Directive (MiFID) II and the Capital Requirements Directives (CRD 4 and 5) to facilitate recovery from the COVID-19 crisis.
The Standing Committee of the European Free Trade Association (EFTA) recommended that a systemic risk buffer level of 4.5% for domestic exposures can be considered appropriate for addressing the identified systemic risks to the stability of the financial system in Norway.
In a recent statement, PRA clarified its approach to the application of certain EU regulatory technical standards and EBA guidelines on standardized and internal ratings-based approaches to credit risk, following the end of the Brexit transition.
In a recently published letter addressed to the G20 finance ministers and central bank governors, the FSB Chair Randal K. Quarles has set out the key FSB priorities for 2021.
EU published, in the Official Journal of the European Union, a corrigendum to the revised Capital Requirements Regulation (CRR2 or Regulation 2019/876).
ESAs published a joint supervisory statement on the effective and consistent application and on national supervision of the regulation on sustainability-related disclosures in the financial services sector (SFDR).
EC published a public consultation on the review of crisis management and deposit insurance frameworks in EU.
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 issued a letter to the CEOs of eight major UK banks that are in scope of the first Resolvability Assessment Framework (RAF) reporting and disclosure cycle.