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

    PRA to Elaborate on Approach to Transposition of CRD5 by Mid-December

    PRA published a statement that explains when to expect further information on the PRA approach to transposing the Capital Requirements Directive (CRD5), including its approach to revisions to the definition of capital for Pillar 2A.

    November 30, 2020 WebPage Regulatory News
    News

    SRB Sets Out Work Program for 2021-2023

    SRB published the work program for 2021-2023, setting out a roadmap to further operationalize the Single Resolution Fund and to achieve robust resolvability of banks under its remit over the next three years.

    November 30, 2020 WebPage Regulatory News
    News

    EIOPA Consults on KPIs on Sustainability for Non-Financial Reporting

    EIOPA is consulting on the relevant ratios to be mandatorily disclosed by insurers and reinsurers falling within the scope of the Non-Financial Reporting Directive as well as on the methodologies to build these ratios.

    November 30, 2020 WebPage Regulatory News
    News

    ECB Publishes Guide on Management of Climate and Environmental Risks

    ECB finalized guidance on the way it expects banks to prudently manage and transparently disclose climate and other environmental risks under the current prudential rules.

    November 27, 2020 WebPage Regulatory News
    News

    BCBS Amends Capital Treatment of Non-Performing Loan Securitizations

    BCBS published a technical amendment to the capital treatment of securitizations of non-performing loans by banks.

    November 26, 2020 WebPage Regulatory News
    News

    BoE to Move Statistical Data Collection to BEEDs Portal

    BoE announced that the Data and Statistics Division is planning to move collection of statistical data to the BoE Electronic Data Submission (BEEDS) portal.

    November 25, 2020 WebPage Regulatory News
    News

    APRA Updates Reporting Standards and Guidance for EFS Data Collection

    APRA published the updated reporting standards and guidance for the collection of Economic and Financial Statistics (EFS), following a consultation process. Also published was a response letter to the feedback received on the proposal for amending the EFS reporting standards and guidance.

    November 24, 2020 WebPage Regulatory News
    News

    EC Consults on Criteria for Environmentally Sustainable Activities

    EC is consulting on a draft delegated regulation to supplement the Taxonomy Regulation (2020/852) by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as environmentally sustainable.

    November 20, 2020 WebPage Regulatory News
    News

    IFRS Examines Incorporation of Climate Risk Issues into IFRS Standards

    The IFRS Foundation published material highlighting the ways in which existing requirements in IFRS standards require companies to consider climate-related matters when their effect is material to the financial statements.

    November 20, 2020 WebPage Regulatory News
    News

    FSB Report Outlines Progress on Interest Rate Benchmark Reform

    FSB published a progress report on the implementation of reforms to major interest rate benchmarks, including the London Inter-bank Offered Rate (LIBOR) benchmark.

    November 20, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 6167