Featured Product

    EC Amends Rules on Reporting Templates and Instructions Under CRR

    December 06, 2017

    EC published the Commission Implementing Regulation on reporting templates and instructions. CIR (EU) 2017/2114 amends CIR (EU) No 680/2014, which lays down implementing technical standards on supervisory reporting of institutions, according to the Capital Requirements Regulation (CRR: Regulation (EU) No 575/2013). CIR (EU) 2017/2114 shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. It shall apply from March 01, 2018.

    CIR (EU) No 680/2014 specifies the modalities according to which institutions are required to report information relevant to their compliance with CRR. The regulatory framework established by CRR is gradually being supplemented and amended in its non-essential elements by the adoption of further secondary legislation and, in this case, by Commission Delegated Regulation (EU) 2015/61. Therefore, CIR (EU) No 680/2014 should also be updated to reflect these rules and to provide further precision in the instructions and definitions used for the supervisory reporting of institutions. CIR (EU) No 680/2014 requires amendments to correct erroneous references and formatting inconsistencies that were discovered in the course of the application of that regulation. Amendments are also required to reflect the ability of competent authorities to effectively monitor and assess the institutions' risk profile and to obtain a view on the risks posed to the financial sector. This requires changes to the reporting requirements in the areas of operational risk, credit risk, and with regard to institutions' exposures toward sovereigns. Accordingly, CIR (EU) No 680/2014 is being amended and the key amendments are as follows:

    • In Article 5(b) point (2) has been replaced and point (3) has been added.
    • In Article 16b(1), point (c) has been added and, in Article 16b(2), point (a) has been replaced.
    • Annex I and Annex II has been replaced by the text set out in Annex I and Annex II to Regulation (EU) 2017/2114, respectively.
    • Annex VII has been replaced by the text set out in Annex III to Regulation (EU) 2017/2114 
    • Annex XI has been replaced by the text set out in Annex IV to Regulation (EU) 2017/2114 
    • Annex XIV has been replaced by the text set out in Annex V to Regulation (EU) 2017/2114 
    • Annex XV has been replaced by the text set out in Annex VI to Regulation (EU) 2017/2114 
    • Annex XVIII has been replaced by the text set out in Annex VII to Regulation (EU) 2017/2114 
    • Annex XIX has been replaced by the text set out in Annex VIII to Regulation (EU) 2017/2114 
    • Annex XX has been replaced by the text set out in Annex IX to Regulation (EU) 2017/2114 
    • Annex XXI has been replaced by the text set out in Annex X to Regulation (EU) 2017/2114 
    • A new Annex XXII has been added, the text of which is set out in Annex XI to Regulation (EU) 2017/2114 
    • A new Annex XXIII has been added, the text of which is set out in Annex XII to Regulation (EU) 2017/2114 

     

    Related Links

    Effective Date: December 26, 2017

    Keywords: Europe, EU, Banking, CRR, CIR 2017/2114, CIR 680/2014, EC

    Related Articles
    News

    HKMA Consults on Supervisory Policy for OTC Derivatives Transactions

    HKMA is consulting on revisions to the Supervisory Policy Manual module CR-G-14 on margin and other risk mitigation standards for non-centrally cleared over-the-counter (OTC) derivatives transactions.

    May 25, 2020 WebPage Regulatory News
    News

    PRA on Regulatory Capital and IFRS 9 Requirements for Payment Holidays

    PRA provided further information on the application of regulatory capital and IFRS 9 requirements to payment holidays granted or extended to address the challenges arising from COVID-19 outbreak.

    May 22, 2020 WebPage Regulatory News
    News

    HKMA on Fintech Adoption and Innovation by Banks in Hong Kong

    HKMA announced the publication of a report on fintech adoption and innovation in the banking industry in Hong Kong.

    May 20, 2020 WebPage Regulatory News
    News

    BIS on Impact of Increasing Use of Cloud Technology on Cyber Risk

    BIS published a working paper that examines the drivers of cyber risk, especially in context of the cloud services.

    May 20, 2020 WebPage Regulatory News
    News

    ECB Consults on Guide for Managing Climate and Environmental Risks

    ECB launched consultation on a guide specifying how the Banking Supervision expects banks to consider climate-related and environmental risks in their governance and risk management frameworks and when formulating and implementing their business strategy.

    May 20, 2020 WebPage Regulatory News
    News

    ECB Issues Opinion on Revisions to CRR in Response to COVID Crisis

    ECB published an opinion (CON/2020/16) on amendments to the prudential framework in EU in response to the COVID-19 pandemic.

    May 20, 2020 WebPage Regulatory News
    News

    EBA Assesses Interlinkages Between Recovery and Resolution Planning

    EBA published a report that examines the interlinkages between recovery and resolution planning under the Bank Recovery and Resolution Directive (BRRD).

    May 20, 2020 WebPage Regulatory News
    News

    SRB Publishes Final MREL Policy Under the Banking Package

    SRB published the final Minimum Requirements for Own Funds and Eligible Liabilities (MREL) policy under the Banking Package.

    May 20, 2020 WebPage Regulatory News
    News

    US Agencies Amend Interim Final Rule on Transition Period for CECL

    US Agencies (FDIC, FED, and OCC) published a final rule that makes technical changes to the March 31, 2020 interim final rule that provides a five-year transition period for the impact of the current expected credit loss (CECL) methodology on regulatory capital.

    May 19, 2020 WebPage Regulatory News
    News

    ECB Releases Results of March Survey on Credit Terms and Conditions

    ECB published results of the March 2020 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter (OTC) derivatives markets.

    May 19, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5208