SEC announced that the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system was upgraded to Release 19.2 and now supports the 2019 International Financial Reporting Standards (IFRS) taxonomy. The EDGAR system no longer supports the 2017 U.S. GAAP Financial Reporting Taxonomy, 2014 Document and Entity Information (DEI) Taxonomy, 2017 Exchanges (EXCH) Taxonomy, and 2016 Currencies (Currency) Taxonomy.
The 2019 IFRS taxonomy reflects the same taxonomy that the IASB made available on its website on March 27, 2019. SEC encourages companies to use the most recent version of taxonomy releases for their XBRL exhibits to take advantage of the most up-to-date tags related to new accounting standards and other improvements. On March 11, 2019, the EDGAR system was upgraded in Release 19.1 and now supports the 2019 U.S. GAAP, 2019 SEC Reporting, 2019 Currency, and 2019 EXCH taxonomies. The EDGAR system was also upgraded in Release 19.2 to support 2019 Document and Entity Information (DEI) taxonomy as a result of the SEC adopting amendments to modernize and simplify certain disclosure requirements in Regulation S-K. One of the amendments requires the information on the cover pages of Forms 10-K, 10-Q, 8-K, 20-F, and 40-F to be tagged in Inline XBRL, in accordance with the EDGAR Filer Manual.
Keywords: Americas, US, Banking, Securities, Accounting, EDGAR 19.2, XBRL, US GAAP, Taxonomy, DEI Taxonomy, Reporting, IFRS, FASB, SEC
EBA published an erratum for the technical package on phase 2 of the reporting framework 3.0.
MAS amended Notice 643A that addresses requirements for banks to prepare statements of exposures and credit facilities to related concerns or parties.
ECB has published, in the Official Journal of the European Union, the Guideline 2021/565 on the euro short-term rate (€STR) and this guideline amends the previous ECB Guideline 2019/1265.
EBA launched a consultation on the draft regulatory technical standards on the list of countries with an advanced economy for calculating the equity risk under the alternative standardized approach (FRTB-SA).
PRA is proposing, via CP7/21, the approach to implementing new requirements related to the specification of the nature, severity, and duration of an economic downturn in the internal ratings-based (IRB) approach to credit risk.
The UK government launched the Recovery Loan Scheme (RLS) as part of its continued COVID-19 support for UK businesses, as announced by HM Treasury on March 03, 2021.
FSB published a letter, from its Chair Randal K. Quarles, to the G20 Finance Ministers and Central Bank Governors, ahead of their virtual meeting on April 07, 2021.
OSFI issued a letter to the deposit-taking institutions issuing covered bonds and announced the unwinding of the temporary increase to the covered bond limit for deposit-taking institutions, effective immediately.
To support recovery from the COVID-19 crisis, EU has published two regulations to amend the securitization framework, as set out in the Securitization Regulation (2017/2402) and the Capital Requirements Regulation or CRR (575/2013).
HM Treasury announced that G7 Finance Ministers and Central Bank Governors met ahead of COP 26, the 2021 UN Climate Change Conference, and agreed on green agenda.