DNB published a decision amending the "Regulation on Sound Remuneration Policy Wft 2017" (Rbb 2017) in the Government Gazette in December 2020. The decision entered into force on December 29, 2020. The changes result from the entry into force of the fifth Capital Requirements Directive (CRD5) on December 29, 2020. The Rbb 2017 concerns the national implementation of the remuneration provisions in Articles 92 to 96 of CRD. The amendments concern the category of employees to which the remuneration provisions apply, the broadening of the type of financial instruments in which variable remuneration can be paid, the extension of the period to defer payout, and the introduction of an exemption from certain remuneration provisions. The implementation of these requirements mainly concerns banks and investment firms.
In addition, DNB published several reporting updates, along with an updated list of additional data requests for banks. The updated data requests, which have been highlighted with the word "UPDATE" in red, include semi-recurring as well as ad hoc data requests to banks from DNB and European agencies. The key reporting updates are as follows:
- In addition to the regular Deposit Guarantee Scheme (DGS) reporting, DNB requests banks to submit a report of deposits that have been collected as of December 31, 2020 through cross-border services to the European Economic Area member states. The report is not (yet) included in the XBRL taxonomy for DGS reports. The report is, therefore, requested in Excel. The template must be submitted no later than March 18, 2021. This reporting obligation has been made available in Digital Reporting Portal or DLR from February 01, 2021.
- DNB updated additional data quality checks related to the reference period December 2020. In the previous version for DNB checks 1048-1072 (source EGDQ), columns J (rows) and K (columns) were left empty. For the sake of completeness, these columns are presented in the current version. Additionally, for a few data checks, the syntax has been corrected.
- News on Sound Remuneration Policy
- News on DGS Reporting
- News on Additional Data Checks
- Update on Additional Data Requests
Keywords: Europe, Netherlands, Banking, Securities, CRD5, Remuneration, CRD5, Operational Risk, Governance, Reporting, Digital Reporting Portal, Data Quality Checks, XBRL, Deposit Guarantee Schemes, DNB
Previous ArticleAPRA Sets Out Policy and Supervisory Priorities for Banking Sector
BIS published a paper that provides an overview on the use of big data and machine learning in the central bank community.
APRA finalized the reporting standard ARS 115.0 on capital adequacy with respect to the standardized measurement approach to operational risk for authorized deposit-taking institutions in Australia.
ECB published a guide that outlines the principles and methods for calculating the penalties for regulatory breaches of prudential requirements by banks.
MAS and The Association of Banks in Singapore (ABS) jointly issued a paper that sets out good practices for the management of operational and other risks stemming from new work arrangements adopted by financial institutions amid the COVID-19 pandemic.
ACPR announced that a new data collection application, called DLPP (Datalake for Prudential), for collecting banking and insurance prudential data will go into production on April 12, 2021.
BCB announced that the Financial Stability Committee decided to maintain the countercyclical capital buffer (CCyB) for Brazil at 0%, at least until the end of 2021.
EIOPA has launched a European-wide comparative study on non-life underwriting risk in internal models, also kicking-off of the data collection phase.
SRB published an overview of the resolution tools available in the Banking Union and their impact on a bank’s ability to maintain continuity of access to financial market infrastructure services in resolution.
EBA is consulting on the implementing technical standards for Pillar 3 disclosures on environmental, social, and governance (ESG) risks, as set out in requirements under Article 449a of the Capital Requirements Regulation (CRR).
ESAs Issue Advice on KPIs on Sustainability for Nonfinancial Reporting