FED issued a proposal to extend for three years, with revision, the complex institution liquidity monitoring report (FR 2052a; OMB No. 7100-0361). FR 2052a is used to monitor the overall liquidity profile of certain FED-supervised institutions. Comments must be submitted by February 26, 2019. Reporting frequency is based on the asset size of the firm and whether it has been identified as a firm supervised through the Large Institution Supervision Coordinating Committee of FED.
On September 12, 2018, FED temporarily approved certain revisions to the FR 2052a in relation to the Economic, Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act and FED’s related interim final rule amending the liquidity coverage ratio (LCR) rule. As required by section 403 of the EGRRCP Act, FED amended the LCR rule within 90 days of the enactment of EGRRCP Act to treat investment-grade municipal obligations that are liquid and readily marketable as level 2B high-quality liquid assets (HQLA) for the purpose of the liquidity regulations. Therefore, FED temporarily revised the asset categories in FR 2052a to enable institutions to report certain municipal obligations that meet all the requirements for inclusion as HQLA under section 20 of the LCR rule, as amended. Specifically, FED amended the Assets Category Table in Appendix III of the FR 2052a, such that the description of the asset classification code “IG2-Q” is sufficiently inclusive of municipal obligations that may qualify as HQLA under the LCR rule. FED is now proposing to extend for three years these temporary revisions to the FR 2052a.
Related Link: Federal Register Notice
Comment Due Date: February 26, 2019
Keywords: Americas, US, Banking, FR 2052a, Liquidity Monitoring, HQLA, EGRRCP Act, Reporting, LCR, FED
Previous ArticleRBI Circular on FALLCR Against Credit Disbursed to NBFCs and HFCs
BoE updated the known issues document for the statistical reporting Forms AS and FV.
EBA updated the report on the implementation of selected COVID-19 policies.
OSFI published a letter that provides an update on the milestones for the implementation of the IFRS 17 standard on insurance contracts.
The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.
BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.
BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.
MAS announced several initiatives to support adoption of the Singapore Overnight Rate Average (SORA), which is administered by MAS.
HKMA, together with the Banking Sector Small and Medium-Size Enterprise (SME) Lending Coordination Mechanism, announced a ninety-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme.
The Advisory Scientific Committee of ESRB published a response, in the form of an Insights Paper, to the EBA proposals for reforms to the stress testing framework in EU.
FASB issued a new Accounting Standards Update (2020-06) to improve financial reporting associated with accounting for convertible instruments and contracts in an entity’s own equity.