EBA acknowledged the adoption by the EC of the implementing technical standards on supervisory reporting (Implementing Act amending Regulation (EU) No 680/2014) with regard to financial reporting (FINREP). This follows the changes in the International Accounting Standards, including IFRS 9.
EC adopted this Implementing Act, which is based on the final draft implementing technical standards on supervisory reporting submitted by the EBA in November 2016, on June 29, 2017 and its publication in the Official Journal of the European Union is still pending. The amended requirements will apply as of March 01, 2018 (reporting framework v2.7). The related documents published on EBA's website have been updated to reflect the adoption of the Implementing Act
Keywords: EBA, Europe, IFRS 9, Accounting, Banking, FINREP, EC, Supervisory Reporting
Previous ArticleHKMA Finalizes Return for Stable Funding Position of a Bank
Next ArticleESMA Updates Q&A Related to Market Abuse Regulation
MAS and Temasek jointly released a report to mark the successful conclusion of the fifth and final phase of Project Ubin, which focused on building a blockchain-based multi-currency payments network prototype.
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
APRA updated the lists of the Direct to APRA (D2A) validation rules for authorized deposit-taking institutions, insurers, and superannuation entities.
PRA updated the statement that provides guidance to regulated firms on implementation of the EBA guidelines on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis.
EBA updated the 2019 list of closely correlated currencies that was originally published in December 2013.
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.
BCBS and FSB published a report on supervisory issues associated with benchmark transition.
IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.
ESMA updated the reporting manual on the European Single Electronic Format (ESEF).