EBA published phase 2 of its technical package on the reporting framework 2.9, which includes validation rules, Data Point Model (DPM) data dictionary, and XBRL taxonomies. The 2.9 “Phase 2” release covers changes in FINREP and Supervisory Benchmarking Portfolios frameworks, in addition to some hotfixes for COREP and resolution frameworks in “Phase 1” release. The update reflects the amendments to the implementing technical standards on supervisory reporting related to FINREP and on benchmarking of internal approaches, both of which were published on July 16, 2019.
EBA intends to publish an update to the 2.9 taxonomy in January, to add and correct validation rules. The aim would be to enhance data quality, taking into account both feedback on the 2.9 taxonomy, but also crucially practical reporting experience from the 2.9 release. Only elements of 2.9 that have not yet come into use in January would be affected (that is, excluding Resolution or Benchmarking). This change is not intended to impact any structural elements of the reporting, but only the validation rules—that is, the changes would be “instance compatible.” The amendments to the reporting framework 2.9 will apply from different reference dates due to different application dates of the underlying regulatory requirements.
Keywords: Europe, EU, Banking, Reporting, Framework 2.9, Supervisory Benchmarking, FINREP, COREP, Resolution Framework, Validation Rules, DPM 2.9, Taxonomy, EBA
MAS and Temasek jointly released a report to mark the successful conclusion of the fifth and final phase of Project Ubin, which focused on building a blockchain-based multi-currency payments network prototype.
PRA published a public working draft, or PWD, of version 1.2.0 of the BoE Insurance XBRL taxonomy, along with the related technical artefacts.
CPMI published a report that sets out nineteen building blocks for a global roadmap to improve cross-border payments.
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
APRA updated the lists of the Direct to APRA (D2A) validation rules for authorized deposit-taking institutions, insurers, and superannuation entities.
PRA updated the statement that provides guidance to regulated firms on implementation of the EBA guidelines on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis.
EBA updated the 2019 list of closely correlated currencies that was originally published in December 2013.
ESMA published the final report on the guidelines on securitization repository data completeness and consistency thresholds.
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.