Featured Product

    DNB Announces Several Reporting Updates in July 2020

    July 21, 2020

    DNB published a new version of the country risk report guideline for the BIS Consolidated Banking Statistics for 2020. These guidelines apply to version 2.0.0 of the taxonomy for country risk report, which was published on June 30, 2020. Banks must use this new version of the guidelines, along with version 2.0.0 of the XBRL taxonomy, to submit their country risk report effective from the fourth quarter of 2020 reference period. The submission deadline for this reference period is February 25, 2021. In addition, DNB updated the overview of the additional data requests, including semi-recurring as well as ad hoc data requests to banks, from DNB and European agencies. DNB notified that Version 1.2 of reporting templates should be used for ECB COVID-19 reporting with reference date June 30, 2020. However, for re-submissions of reference dates March 31, 2020 and May 30, 2020, Version 1.1 of the reporting template is to be used.

    DNB also released a set of frequently asked questions (FAQs) prepared by ECB on the COVID-19 data request. The FAQ covers both ECB part (for significant institutions only) and the EBA COVID-19 request and is, therefore, also useful for less significant institutions. Moreover, DNB notified that the Audit Single Customer View (IKB) reporting obligation is available in Digital Reporting Portal or DLR. The reporting deadline is August 31, 2020. Based on the Single Customer View Policy Rule under the Deposit Guarantee Scheme (DGS), banks must submit a report that sets out the internal audit department's opinion (Section 11) and an ISAE 3402 type 2 report that contains the external auditor's opinion (Section 12). These reports can be submitted together. Newly joined banks for this period will submit a ISAE 3402 type 1 report. The selected banks with a reporting obligation have already informed.

    Recently, ECB renewed its recommendation calling on significant credit institutions (banks directly supervised by ECB) not to pay a dividend until January 01, 2021. Banks are also called upon to refrain from buying back their own shares until this date and to use variable remuneration in an extremely moderate manner. In its communications, ECB also clarified its expectations with regard to the timelines for recovery of capital and liquidity buffers. DNB supports this ECB recommendation and ECB expectations with regard to buffers and, therefore, considers it applicable to less significant credit institutions that are directly supervised by DNB. The recommendation is in line with previous calls and measures by DNB to limit the consequences of the COVID-19 outbreak for the Dutch economy.

     

    Related Links

    Keywords: Europe, Netherlands, Banking, Reporting, Digital Reporting Portal, Taxonomy, XBRL, COVID-19, FAQ, Deposit Guarantee Scheme, Dividend Distribution, EBA, ECB, DNB

    Featured Experts
    Related Articles
    News

    FCA Consults on Regulation of International Firms in UK

    FCA is consulting on its approach to the authorization and supervision of international firms operating in UK.

    September 23, 2020 WebPage Regulatory News
    News

    MAS Amends Notice on Capital Adequacy Requirements of Banks

    MAS published amendments to Notice 637 on the risk-based capital adequacy requirements for reporting banks incorporated in Singapore.

    September 23, 2020 WebPage Regulatory News
    News

    FCA to Begin to Move Firms to New Data Collection Platform RegData

    FCA announced that it will move firms to RegData from Gabriel in the coming months in stages, based on the reporting requirements of firms.

    September 23, 2020 WebPage Regulatory News
    News

    APRA Reviews Repayment Deferral Plans, Identifies Best Practices

    APRA has concluded its review of the comprehensive plans of authorized deposit-taking institutions for the assessment and management of loans with repayment deferrals.

    September 22, 2020 WebPage Regulatory News
    News

    ESAs Assess Risks to Financial Sector After COVID-19 Outbreak

    ESAs (EBA, EIOPA, and ESMA) published the first joint report that assesses risks in the financial sector since the outbreak of the COVID-19 pandemic.

    September 22, 2020 WebPage Regulatory News
    News

    BoE Confirms Withdrawal of COVID Corporate Financing Facility

    BoE and HM Treasury confirmed that the COVID Corporate Financing Facility (CCFF) will close for new purchases of commercial paper, with effect from March 23, 2021.

    September 22, 2020 WebPage Regulatory News
    News

    ESAs Launch Survey on Templates for Product Disclosures Under SFDR

    ESAs launched a survey seeking feedback on the presentational aspects of product templates under the Sustainable Finance Disclosure Regulation (SFDR or Regulation 2019/2088).

    September 21, 2020 WebPage Regulatory News
    News

    ECB Proposes Integrated Reporting Framework to Reduce Burden for Banks

    ECB published input of the European System of Central Banks (ESCB) into the EBA feasibility report on reducing the reporting burden for banks in EU.

    September 21, 2020 WebPage Regulatory News
    News

    EC Deems UK Framework for CCPs Temporarily Equivalent to EMIR Rules

    EC adopted a decision determining, for a limited period of time, that the regulatory framework applicable to central counterparties, or CCPs, in the UK and Northern Ireland is equivalent to the requirements laid down in the European Market Infrastructure Regulation (EMIR or Regulation 648/2012).

    September 21, 2020 WebPage Regulatory News
    News

    EBA to Phase Out Guidelines on Loan Repayment Moratoria

    EBA has decided to phase out the guidelines on legislative and non-legislative moratoria of loan repayments, in accordance with the earlier specified end of September deadline.

    September 21, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5829