CSSF Updates Reporting Requirements for Credit Institutions
CSSF published version 5.7 of the reporting requirements for credit institutions. This version includes changes in FINREP reporting requirements, following the entry into force of EBA taxonomy 2.9, starting with the reference date of June 2020 onward. The document aims to provide an overview of the periodical reporting requirements and other regular reporting applicable to credit institutions in Luxembourg (chapters 1-4) as well as the reporting formats and technical specifications (chapter 5). CSSF also updated an Excel document on identification of reporting requirements and checks for second-level completeness. It includes updates related to FINREP templates. The Excel document presents, among others, the filing indicator logic according to the ECB framework.
With respect to the FINREP templates newly introduced by EBA taxonomy 2.9 and to following the publication of ECB Regulation 2020/605 that amends reporting of supervisory financial information, CSSF aligned its reporting requirements with those of ECB:
- Templates F 13.02.1 and F 13.03.1 are being requested in FULL and Simplified-extended FINREP versions
- Templates F 16.08, F 44.04, and F 47.00 are being requested only in FULL FINREP version
- Templates F 18.01 and F 18.02 are being requested in FULL, Simplified-extended and Oversimplified FINREP versions
An update of CSSF circular 14/593 will be published in the coming weeks to confirm these new requirements.
Related Links
Keywords: Europe, Luxembourg, Banking, Reporting, Taxonomy 2.9, Filing Indicators, FINREP, COREP, LCR, NSFR, EBA, ECB, CSSF
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Pierre-Etienne Chabanel
Brings expertise in technology and software solutions around banking regulation, whether deployed on-premises or in the cloud.
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Related Articles
BIS Surveys Centrals Banks on Issuance of Digital Currencies
BIS published a report that presents the results of a survey among more than 60 central banks in late 2020 about their engagement in central bank digital currency (CBDC) work, their motivations, and their intentions regarding CBDC issuance.
OSFI Outlines Capital Treatment for COVID-19 Loan Guarantee Program
OSFI issued a letter to federally regulated deposit-taking institutions on the capital treatment of new loans to businesses through the Highly Affected Sectors Credit Availability Program (HASCAP).
BCBS Proposes to Amend Rules on Minimum Haircut Floors for SFTs
BCBS is consulting on two technical amendments to the rules on minimum haircut floors for securities financing transactions, or SFTs.
EC Consults on Crisis Management and Deposit Insurance Framework
EC launched a targeted consultation on the review of crisis management and deposit insurance framework in EU.
EIOPA Sets Out Principles for Liquidity Stress Test for Insurers
EIOPA published a paper that sets out the methodological principles of insurance stress testing with a focus on the liquidity component.
BIS Launches Euro Green Bond Fund for Central Banks
BIS launched a EUR-denominated, open-ended fund for green bond investments by central banks and official institutions, following the launch of the first BIS green bond fund denominated in USD in September 2019.
EBA Announces Stress Test Timeline; ECB Sets Up Climate Change Center
EBA announced that it will launch the 2021 EU-wide stress test exercise, with the publication of the macroeconomic scenarios on January 29, 2021.
BoE Discontinues Form CX on Capital Expenditure and Finance Leasing
BoE announced that the reporting entities are no longer required to report Form CX after the fourth quarter of 2020 reference period, with the last collection on January 29, 2021.
PRA Updates Q&A on Branch Return, Announces End Date of COVID Facility
PRA published Version 3 of the questions and answers (Q&A) on the Branch Return form, with this version superseding the version published in October 2020.
IAIS Consults on Application Paper on Supervision of Control Functions
IAIS is consulting on a draft application paper on the supervision of control functions.
