CSSF published Circular 20/74 on supervisory reporting requirements applicable to credit institutions. Circular 20/745 modifies Circular 14/593 by incorporating the latest developments in reporting requirements. The changes relate to the FINREP requirements, following the publication of ECB Regulation 2020/605 in April 2020. The ECB Regulation 2020/605 amends Regulation 2015/534 on reporting of supervisory financial information. The updated circular includes FINREP templates, in relation to EBA taxonomy 2.9, to be submitted from June 2020.
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Keywords: Europe, Luxembourg, Banking, Reporting, Taxonomy 2.9, FINREP, EBA, ECB, CSSF
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FCA and PRA in the UK, FED in the US, and the authorities in Singapore have fined Goldman Sachs for risk management failures in connection with the 1Malaysia Development Berhad (1MDB).
BCBS announced that OSFI and the Bank of Canada hosted the 21st International Conference of Banking Supervisors (ICBS) virtually on October 19-22, 2020.
FCA proposed guidance on how firms should continue to seek to help customers who hold insurance and premium finance products and may be in financial difficulty because of COVID-19, after October 31, 2020.
EBA issued an opinion on prudential treatment of the legacy instruments as the grandfathering period nears an end on December 31, 2021.
ESRB published the fifth issue of the EU Non-bank Financial Intermediation Risk Monitor 2020 (NBFI Monitor).
HM Treasury announced that the new Financial Services Bill has been introduced in the Parliament.
APRA announced that it has increased the minimum liquidity requirement of Bendigo and Adelaide Bank for failing to comply with the prudential standard on liquidity.
PRA published the consultation paper CP17/20 to propose changes to certain rules, supervisory statements, and statements of policy to implement elements of the Capital Requirements Directive (CRD5).
US Agencies adopted a final rule that applies to advanced approaches banking organizations and aims to reduce interconnectedness in the financial system as well as to reduce contagion risks associated with the failure of a global systemically important bank (G-SIB).
US Agencies (FDIC, FED, and OCC) adopted a final rule that implements the net stable funding ratio (NSFR) for certain large banking organizations.