ACPR published the draft version of taxonomy RAN 1.3.0 for Solvency II reporting. The returns are expected before August 15, 2019. The first closing date is December 31, 2019 for the 2020 reporting. Additionally, ACPR has notified that it has strengthened controls for the verification of electronic signature. As of September 01, 2019, any anomaly detected during checks of the electronic signature will lead to the rejection of the delivery. As a first step, this change will only apply to prudential XBRL reporting in the COREP, FINREP, and Anti-Money Laundering and Terrorist Financing (LCB-FT) domains.
Organizations subject to the Solvency II regime must submit data in extensible business reporting language (XBRL) format. The RAN taxonomy has a structure similar to that of EIOPA taxonomies. In addition to the requirements at the EU level, ACPR has issued certain national requirements for Solvency II reporting.
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Keywords: Europe, France, Banking, Insurance, COREP, FINREP, Solvency II, Reporting, Taxonomy RAN 1.3.0, XBRL, ACPR
EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.
In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.
IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.
FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.
EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.
FSB published a letter from its Chair Randal K. Quarles, along with two reports exploring various aspects of the market turmoil resulting from the COVID-19 event.
RBNZ launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.
The Trustees of the IFRS Foundation, which are responsible for the governance and oversight of IASB, have announced the appointment of Dr. Andreas Barckow as the IASB Chair, effective July 2021.
HKMA issued a letter to consult the banking industry on a full set of proposed draft amendments to the Banking (Capital) Rules for implementing the Basel standard on capital requirements for banks’ equity investments in funds in Hong Kong.
ESRB published an opinion assessing the decision of Swedish Financial Supervisory Authority (FSA) to extend the application period of a stricter measure for residential mortgage lending, in accordance with Article 458 of the Capital Requirements Regulation (CRR).