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    DNB Amends Regulation on Remuneration Policy, Issues Reporting Updates

    February 01, 2021

    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.

     

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    Keywords: Europe, Netherlands, Banking, Securities, CRD5, Remuneration, CRD5, Operational Risk, Governance, Reporting, Digital Reporting Portal, Data Quality Checks, XBRL, Deposit Guarantee Schemes, DNB

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