Featured Product

    ECB Amends Regulation on Supervisory Financial Information Reporting

    August 28, 2017

    ECB published amendments to the regulation on reporting of supervisory financial information (Regulation ECB/2015/13) after reviewing comments received through a public consultation. The amendments adjust the regulation in line with changes in accounting standards. The ECB regulation lays down the rules and procedures for financial reporting by banks on an individual basis (solo reporting) and for consolidated financial reporting by banking groups under national accounting frameworks to national competent authorities and ECB. The amended regulation will come into effect on January 01, 2018.

    For less significant supervised entities who report under their national accounting frameworks and are established in two particular member states, the date of application will be January 01, 2019. In line with the provision set out in the amended regulation, this extension has been granted by ECB based on specific requests from France and Germany, whose national accounting frameworks are not compatible with IFRS. 

     

    The amendments mainly reflect the changes introduced in the EC Implementing Regulation (EU) No 680/2014 on supervisory reporting to align reporting on financial information (FINREP) with the requirements of International Financial Reporting Standard (IFRS) 9. IFRS 9 brings fundamental changes to financial instruments accounting and introduces in particular a new expected loss impairment model, which requires banks to reflect the credit losses expected in the future in their accounting. Consequently, the templates used by banks to report their financial information had to be adjusted to reflect these changes. 

     

    Related Links

    Regulation of ECB Amending Regulation (EU) 2015/534 (PDF)

    Regulation of ECB Laying Down Date of Application of Regulation ECB/2017/25 (PDF)

    Consultation on Draft Amendment

    Effective Date: January 01, 2018

    Keywords: Europe, EU, Banking, IFRS 9, ECB/2015/13, ECB/2017/25, ECB/2017/26, Accounting, Reporting, ECB

    Featured Experts
    Related Articles
    News

    APRA Decides to Keep Countercyclical Capital Buffer for Banks at 0%

    APRA announced its decision to keep the countercyclical capital buffer (CCyB) for authorized deposit-taking institutions on hold at zero percent.

    December 11, 2019 WebPage Regulatory News
    News

    APRA Issues Operational Risk Rules, Consults on Reporting Requirements

    APRA published an updated prudential standard APS 115 that sets out operational risk requirements for authorized deposit-taking institutions in Australia.

    December 11, 2019 WebPage Regulatory News
    News

    EBA Issues Revised List of Validation Rules for Reporting by Banks

    EBA published a revised list of validation rules in its implementing technical standards on supervisory reporting.

    December 10, 2019 WebPage Regulatory News
    News

    SRB Holds Annual Conference, Reflects on Turning Policy into Action

    SRB published a report on its fourth annual conference that was held on October 10, 2019 in Brussels.

    December 10, 2019 WebPage Regulatory News
    News

    OSFI Sets Domestic Stability Buffer Level at 2.25%

    OSFI has set the Domestic Stability Buffer, or DSB, at 2.25% of total risk-weighted assets, with effect from April 30, 2020.

    December 10, 2019 WebPage Regulatory News
    News

    FED Extends Consultation Period for Capital Requirements for Insurers

    FED is extending comment period for the proposed rule establishing risk-based capital requirements for depository institution holding companies that are significantly engaged in insurance activities.

    December 10, 2019 WebPage Regulatory News
    News

    FSB Examines Financial Stability Aspects of Bigtech and Cloud Services

    FSB published two reports that consider the financial stability implications from the offering of financial services by bigtech firms and the adoption of cloud computing and data services across a range of functions at financial institutions.

    December 09, 2019 WebPage Regulatory News
    News

    HKMA Proposes Changes to Module on Supervision of Concentration Risk

    HKMA issued a circular proposing revisions to the Supervisory Policy Manual module CR-L-1 on consolidated supervision of concentration risks under the Banking (Exposure Limits) Rules (BELR) Rule 6.

    December 09, 2019 WebPage Regulatory News
    News

    BoE Updates XBRL Filing Manual for Reporting Under Solvency II

    BoE has updated the XBRL filing manual (to Version 5.0) to help firms and software vendors create XBRL instance documents for Solvency II Pillar 3 and BoE Insurance reporting.

    December 09, 2019 WebPage Regulatory News
    News

    APRA Specifies Capital Treatment of Equity Investments in ABGF

    APRA published a letter to the authorized deposit-taking institutions outlining the regulatory capital treatment of their equity investments in the Australian Business Growth Fund (ABGF).

    December 09, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4301