Bundesbank updated the list of deactivated validation rules and derivation rules for reporting by banks. It updated the list of validation rules, which—from the nGAAP perspective in Germany—are not in line with the respective reporting requirements. This list does not represent a final and complete overview about questionable validation rules. The updated derivation rules are for a completeness check at the form level, with respect to the data quality of the European harmonized reporting system. The requirements for completeness check apply to all credit institutions under the Capital Requirements Regulation (CRR).
These updates are from a national perspective and are part of banking supervision under the harmonized reporting framework in EU. ECB has formulated data quality requirements for uniform supervision under the Single Supervisory Mechanism (SSM). As part of this, the quality of reported data is being assessed on the basis of the five criteria of punctuality (meeting the prescribed submission deadlines), completeness, correctness and consistency, continuity, and plausibility. It is important for a banking supervisor to ensure that the reported data are consistent and correct. The criteria of correctness involves ensuring that the transmitted messages are in line with the respective valid reporting requirements and this encompasses ensuring compliance with the validation rules (XBRL and non-XBRL) of EBA. The criteria of completeness check is based on the existence of all modules and forms to be submitted. The completeness of a report depends on institution-specific factors, such as business activity, and is, therefore, assessed for an individual institution. In addition to the checks at the module and form levels, completeness is also checked at the data point level.
Related Links (in German)
Keywords: Europe, Germany, Banking, Reporting, Derivation Rules, Validation Rules, nGAAP, COREP, FINREP, Bundesbank
Previous ArticleEBA Single Rulebook Q&A: First Update for August 2018
FCA is consulting on its approach to the authorization and supervision of international firms operating in UK.
MAS published amendments to Notice 637 on the risk-based capital adequacy requirements for reporting banks incorporated in Singapore.
FCA announced that it will move firms to RegData from Gabriel in the coming months in stages, based on the reporting requirements of firms.
APRA has concluded its review of the comprehensive plans of authorized deposit-taking institutions for the assessment and management of loans with repayment deferrals.
ESAs (EBA, EIOPA, and ESMA) published the first joint report that assesses risks in the financial sector since the outbreak of the COVID-19 pandemic.
BoE and HM Treasury confirmed that the COVID Corporate Financing Facility (CCFF) will close for new purchases of commercial paper, with effect from March 23, 2021.
ESAs launched a survey seeking feedback on the presentational aspects of product templates under the Sustainable Finance Disclosure Regulation (SFDR or Regulation 2019/2088).
ECB published input of the European System of Central Banks (ESCB) into the EBA feasibility report on reducing the reporting burden for banks in EU.
EC adopted a decision determining, for a limited period of time, that the regulatory framework applicable to central counterparties, or CCPs, in the UK and Northern Ireland is equivalent to the requirements laid down in the European Market Infrastructure Regulation (EMIR or Regulation 648/2012).
EBA has decided to phase out the guidelines on legislative and non-legislative moratoria of loan repayments, in accordance with the earlier specified end of September deadline.