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August 31, 2017

EC published Commission Implementing Regulation, or CIR, (EU) 2017/1486 on benchmarking portfolios and reporting instructions. This regulation amends Implementing Regulation (EU) 2016/2070 and shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

CIR (EU) 2016/2070 specifies the reporting requirements for institutions, enabling EBA and competent authorities to assess the quality of institutions' internal approaches, in accordance with Article 78 of Capital Requirements Directive (CRD IV: Directive 2013/36/EU). Article 78(1) of CRD IV requires institutions to submit the calculations of their internal approaches at least annually. Since the focus of the competent authorities' assessments and of EBA's reports change over time, exposures or positions that are included in the benchmarking portfolios and, therefore, in the reporting requirements, should be adapted accordingly. Thus, it is necessary to amend Annexes I to VI to the Implementing Regulation (EU) 2016/2070. CIR (EU) 2016/2070 is being amended as follows:

Point (d) in Article 2 (of EU 2016/2070) has been deleted.

Annex I (of EU 2016/2070) is being replaced by the text in Annex I to this regulation (EU 2017/1486).

Annex II is being replaced by the text in Annex II to this regulation.

Annex III is being replaced by the text in Annex III to this regulation.

Annex IV is being replaced by the text in Annex IV to this regulation.

Annex V is being replaced by the text in Annex V to this regulation.

Annex VI is being replaced by the text in Annex VI to this regulation.


Related Links

CIR (EU) 2017/1486 (PDF)

Regulation (EU) 2016/2070 (PDF)


Effective Date: September 20, 2017

Keywords: Europe, EU, Banking, CRD IV, CIR 2016/2070, CIR 2017/1486, Benchmark Portfolios, Reporting Instructions, EBA, EC

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