NBB announced that, from the reference period June 30, 2020 onward, a number of additional quality checks are being added to the validation process of the supervisory reporting in OneGate. The Banking Supervision Data Division of ECB, in cooperation with the national competent authorities within the Single Supervisory Mechanism, updated the list of extra data quality checks, in May 2020, in addition to the data quality checks already included in the supervisory reporting frameworks of EBA (COREP and FINREP). These extra checks are aimed at enhancing the quality of supervisory reporting data. ECB applies these checks in conjunction with other controls as part of the quality assessment of supervisory reporting data while national competent authorities implement them whenever possible and feasible.
Keywords: Europe, Belgium, Banking, Reporting, OneGate, Data Quality Checks, FINREP, COREP, Validation Rules, ECB, NBB
PRA published the policy statement PS8/21, which contains the final supervisory statement SS3/21 on the PRA approach to supervision of the new and growing non-systemic banks in UK.
EBA published a report that sets out the final draft regulatory technical standards specifying the conditions according to which consolidation shall be carried out in line with Article 18 of the Capital Requirements Regulation (CRR).
EBA updated the list of other systemically important institutions (O-SIIs) in EU.
BCBS published two reports that discuss transmission channels of climate-related risks to the banking system and the measurement methodologies of climate-related financial risks.
UK Authorities (FCA and PRA) welcomed the findings of FSB peer review on the implementation of financial sector remuneration reforms in the UK.
PRA and FCA jointly issued a letter that highlights risks associated with the increasing volumes of deposits that are placed with banks and building societies via deposit aggregators and how to mitigate these risks.
MFSA announced that amendments to the Banking Act, Subsidiary Legislation, and Banking Rules will be issued in the coming months, to transpose the Capital Requirements Directive (CRD5) into the national regulatory framework.
EC finalized the Delegated Regulation 2021/598 that supplements the Capital Requirements Regulation (CRR or 575/2013) and lays out the regulatory technical standards for assigning risk-weights to specialized lending exposures.
OSFI launched a consultation to explore ways to enhance the OSFI assurance over capital, leverage, and liquidity returns for banks and insurers, given the increasing complexity arising from the evolving regulatory reporting framework due to IFRS 17 (Insurance Contracts) standard and Basel III reforms.
ECB published results of the benchmarking analysis of the recovery plan cycle for 2019.