ACPR published information on replacing CIB and SIREN with Legal Entity Identifier (LEI) from December 2021, relaxations in reporting and electronic signatures due to COVID-19, re-organization of OneGate support, and development in European and national taxonomies for banks and insurers. The information is intended for professional federations, establishments that are not members of a federation, and IT service companies and software publishers on future developments in the information system of ACPR. In view of the end of the state of health emergency, the relaxation in reporting, which was granted by EBA and EIOPA and relayed by ACPR in its press release dated March 26, 2020, will no longer apply from the "June 2020 decree." Also, the relaxation granted for electronic signatures will no longer be accepted from September 2020. Additionally, ACPR has provided information on reporting requirements published by EBA in the context of COVID-19 and changes in the Capital Requirements Regulation in response to COVID-19 pandemic (CRR quick fix).
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Keywords: Europe, French, Banking, Insurance, COVID-19, OneGate, LEI, Reporting, CRR, Taxonomy, EBA, EIOPA, ACPR
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EBA published its annual work program for 2021. The work program describes the activities and deliverables for the coming year in the context of the six key strategic areas of work.
PRA is proposing, via the consultation paper CP14/20, to introduce two complementary expectations on the level of mortgage risk-weights in UK for banks applying the internal ratings-based approaches.
ECB published its statement of compliance with the IOSCO principles for financial benchmarks developed by IOSCO.
OSFI updated the timelines for implementation of IFRS 17 on insurance contracts.
IFRS launched a consultation to assess the demand for global sustainability standards.
EIOPA has set out the work priorities for 2021-2023, taking into account the current market situation in light of the COVID-19 pandemic.
US Agencies (FDIC, FED, and OCC) finalized three interim final rules that were published in March and April this year to ease the impact of disruptions caused by the COVID-19 pandemic.
US Agencies (FDIC, FED, and OCC) finalized two rules, which are either identical or substantially similar to the interim final rules in effect and issued earlier this year.
APRA announced that it is resuming consultation on the confidentiality of data submitted to APRA by the authorized deposit-taking institutions.
EIOPA is consulting on a supervisory statement on the use of risk mitigation techniques by insurance and reinsurance undertakings.