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
PRA Finalizes Approach to Supervision of International Banks
In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.
FCA Issues PS21/9 on Implementation of Investment Firms Regime
The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.
EBA Proposes Regulatory Standards to Identify Shadow Banking Entities
The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.
IOSCO Proposes Recommendations on ESG Ratings and Data Providers
The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.
EC to Defer Application of SFDR Standards Till July 2022
The European Commission (EC) announced plans to defer the application of 13 regulatory technical standards under the Sustainable Finance Disclosure Regulation (2019/2088) by six months, from January 01, 2022 to July 01, 2022.
BoE Consults on Approach to Setting MREL, Publishes Bail-In Guidance
The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.
EBA Seeks Views on Proportionality Assessment Methodology
The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.
US Agencies Propose Changes to Call Reports and Instructions
Certain regulatory authorities in the US are extending period for completion of the review of certain residential mortgage provisions and for publication of notice disclosing the determination of this review until December 20, 2021.
PRA Finalizes Rulebook Definition of Higher Paid Material Risk-Taker
The Prudential Regulation Authority (PRA) published the policy statement PS18/21, which introduces an amendment in the definition of "higher paid material risk taker" in the Remuneration Part of the PRA Rulebook.
EBA Examines Asset Encumbrance in Banking Sector
The European Banking Authority (EBA) published its annual report on asset encumbrance in banking sector.
