NBB Specifies Additional Master Data Attributes Required for Reporting
NBB is announcing the requirement for collection of additional reference data to determine the European prudential reporting obligations. Toward these reporting obligations, additional Master Data attributes (or Metadata) are required to be reported by the specified institutions. The new Master Data Attributes have been set out in the Annex to this NBB Communication and institutions are requested to report these new attributes to NBB by March 31, 2020 via the OneGate application (Domain MBS) of NBB.
This Communication applies to the following institutions:
- Credit institutions governed by Belgian law
- Financial services groups headed by a Belgian regulated institution (hereinafter "financial holding companies governed by Belgian law")
- Financial services groups headed by an institution governed by foreign law (hereinafter "financial holding companies governed by foreign law")
- Financial services groups headed by a Belgian mixed financial holding company (hereinafter “mixed holding companies")
- Branches established in Belgium of credit institutions governed by the law of another European Economic Area Member State Branches, established in Belgium, of credit institutions governed by the law of a third country
As part of their prudential supervisory tasks, the supervisory authorities (NBB, ECB, and EBA) periodically collect prudential data from these above-mentioned institutions subject to their supervision. To allow the supervisory authorities to determine the European prudential reporting obligations for the institutions under their supervision, metadata (the so-called Master Data attributes) are used. At the request of ECB, NBB needs to manage some new additional Master Data attributes. The main purpose of the requested additional Metadata is to better map and understand the group structures of the institutions, both inside and outside the Single Supervisory Mechanism (SSM) and the European Economic Area.
After this one-time periodic reporting, the institutions are requested to communicate any changes in these data to NBB as soon as possible. The institutions subject to the supervision of NBB, which are also at the highest level of consolidation within the member states participating in the SSM, are requested to also report these additional attributes to NBB for those entities within their group that are located in a member state not participating in the SSM, or in a third country. ECB manages the Master Data attributes of each institution in the Register of Institutions and Affiliates Database (RIAD). The ECB Guideline for the attention of the national authorities has a dual purpose. It lays down certain arrangements between different authorities and ECB regarding the management of the information in RIAD.
Related Links
Keywords: Europe, Belgium, Banking, Prudential Data, SSM, Reporting, OneGate, RIAD, EBA, NBB
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
David Fihrer
Skilled life insurance actuary; subject matter expert on IFRS 17 and source of earnings
Previous Article
BaFin Publishes Key Priorities for 2020Related Articles
HKMA Sets Out Regulatory Treatment for Personal Loan Guarantee Scheme
HKMA has published a circular that sets out the regulatory and reporting treatment for loans that participating authorized institutions may grant to eligible borrowers under the 100% Personal Loan Guarantee Scheme.
ECB Completes Targeted Review of Internal Models of Banks
ECB published the results of the assessment of internal models that banks use to calculate risk-weighted assets for credit, market, and counterparty credit risks.
PRA on Regulatory Treatment of Loans Under Mortgage Guarantee Scheme
PRA published a statement on the regulatory treatment of retail residential mortgage loans under the Mortgage Guarantee Scheme, or MGS.
FCA Consults on Rules and Reporting Forms for Investment Firms Regime
FCA is consulting, via CP21/7, on the second phase of proposed rules to introduce the UK Investment Firm Prudential Regime (IFPR).
HMT and BoE Decide to Explore Central Bank Digital Currency in UK
HM Treasury and BoE announced the joint creation of a Central Bank Digital Currency (CBDC) Taskforce to coordinate the exploration of a potential central bank digital currency in UK.
EIOPA Sets Out Expectations on Use of Climate Risk Scenarios in ORSA
EIOPA published an opinion to set out its expectations on the supervision of the integration of climate change risk scenarios by insurers in their Own Risk and Solvency Assessment (ORSA).
Bundesbank Updates AnaCredit Reporting Requirements
Bundesbank published two circulars on AnaCredit reporting requirements. Circular 27/2021 covers changes to the reporting of branches, additional attributes to be reported for investment funds from August 01, 2021, and updates to the list of international organizations.
EC Sets Out Standards for MREL Reporting by Competent Authorities
EC published the Implementing Regulation 2021/622 that lays down implementing technical standards for reporting of the minimum requirement for own funds and eligible liabilities (MREL).
BCBS to Advance Work on Suptech, Climate Risk, and Basel Monitoring
BCBS has set out the strategic work priorities, as part of its the work program for 2021-22.
PRA Finalizes Supervisory Approach for Non-Systemic Banks in UK
PRA published the policy statement PS8/21, which contains the final supervisory statement SS3/21 on the PRA approach to supervision of the new and growing non-systemic banks in UK.
