EBA published an erratum for the technical package on the reporting framework 3.0.1. The aim is to mainly correct data type of two metrics and to modify the domain of the securitization internal code (SIC) dimension. The impacted modules are related to own funds (COREP OF) and large exposures (COREP LE). In this context, EBA has updated the Data Point Model (DPM) database, DPM dictionary, DPM table layout and data point categorization, XBRL taxonomy files and supporting documentation, and taxonomy package and sample files.
The EBA reporting framework 3.0 comprises amendments linked to the revised Capital Requirements Directive and Regulations (CRR2 and CRD5), the revised Bank Resolution and Recovery Directive (BRRD2), and the Investment Firms Regulation (IFR). This version of the reporting framework is expected to apply from June 30, 2021. The main changes compared to the previous version of the EBA reporting framework relate to the following:
- New implementing technical standards on supervisory reporting replacing Regulation 680/2014, including new reporting requirements and changes to the reporting on own funds (including backstop for non-performing exposures), credit risk and counterparty credit risk, large exposures, leverage ratio, net stable funding ratio, FINREP, and global systemically important institution (G-SII) indicators
- New implementing technical standards on specific reporting requirements for market risk (Fundamental Review of the Trading Book or FRTB reporting) (first reference date: September 30, 2021)
- New implementing technical standards on disclosure and reporting on minimum requirement for own funds and eligible liabilities (MREL) and the total loss-absorbing capacity (TLAC)
- Technical package for the implementing technical standards for the notification of impracticability of contractual recognition of the bail‐in clause
- Technical package for the implementing technical standards on reporting decisions on MREL
Keywords: Europe, EU, Banking, Reporting, Basel, CRR2, Reporting Framework 3.0, Reporting Framework 3.0.1, DPM, Taxonomy, IFR, COREP, Own Funds, Large Exposures, FINREP, Investment Firms, FRTB, EBA
In a letter addressed to the industry, the Australian Prudential Regulation Authority (APRA) set out an updated schedule of policy priorities for the banking, insurance, and superannuation industries.
The European Banking Authority (EBA) published answers to 29 questions in the Single Rulebook Question and Answer (Q&A) tool in September.
The European Commission (EC) adopted a comprehensive review package of Solvency II rules in the European Union.
The Office of the Comptroller of the Currency (OCC) issued Versions 1.0 of the "Earnings" and "Regulatory Reporting" booklets of the Comptroller's Handbook.
The European Central Bank (ECB) published results of its economy-wide climate stress test, which aimed to assess the resilience of non-financial corporates and euro area banks to climate risks.
The European Banking Authority (EBA) published a report on the use of digital platforms in the banking and payments sector in European Union.
The Hong Kong Monetary Authority (HKMA) published updates on the policy measures that were announced in context of the ongoing pandemic.
The International Swaps and Derivatives Association (ISDA), along with several other associations, submitted a joint response to the Basel Committee on Banking Supervision (BCBS) consultation on preliminary proposals for the prudential treatment of cryptoasset exposures.
BIS published the September issue of the Quarterly Review, which contains special features that analyze the rapid rise in equity funding for financial technology firms, the effectiveness of policy measures in response to pandemic, and the evolution of international banking.
The Basel Committee for Banking Supervision (BCBS) met in September 2021 and reviewed climate-related financial risks, discussed impact of digitalization, and welcomed efforts by the International Financial Reporting Standards (IFRS) Foundation to develop a common set of sustainability reporting standards