BaFin Replaces Form for Reporting of Recovery Plans by LSIs
BaFin has replaced the form for reporting of recovery plans of less significant institutions (LSIs), according to the simplified requirements under §19 Recovery and Resolution Act (SAG). BaFin also published a guide to the web form for the reporting of recovery plans, along with the frequently asked questions on reporting of the recovery plans according to the simplified requirements.
The Excel form, which was published in October 2019, has been replaced with a more user-friendly web form. Institutions can fill the form directly on the registration and publication platform (MVP) and then submit it. The documents supplementing the recovery plan can no longer be uploaded separately as attachments. Instead, users can import these documents directly into the web form and submit them along with the form.
In addition, BaFin has announced an extension of the General Order, published in June 2019, regarding “the granting of the general license to certain institutions with regard to the termination, repayment, or buyback of eligible liabilities before their contractual maturity." The term of the General Order has been extended until December 28, 2020. The General Order is based on Article 78a paragraph 1 subparagraph 2 of the revised Capital Requirements Regulation (CRR2).
Related Links (in German)
- Notification on Replacement of Reporting Form
- Guide to Reporting Form (PDF)
- Frequently Asked Questions
- Overview Recovery Planning and Related Documents
- Notification on Extension of General Order
- General Order, June 2020
- General Order, June 2019
Keywords: Europe, Germany, Banking, Less Significant Institutions, Recovery Plan, Reporting, CRR2, Resolution Framework, Recovery and Resolution Act, BaFin
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
US Agencies Finalize Amendments to Swap Margin RuleRelated Articles
EBA Clarifies Use of COVID-19-Impacted Data for IRB Credit Risk Models
The European Banking Authority (EBA) published four draft principles to support supervisory efforts in assessing the representativeness of COVID-19-impacted data for banks using the internal ratings based (IRB) credit risk models.
EP Reaches Agreement on Corporate Sustainability Reporting Directive
The European Council and the European Parliament (EP) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD).
PRA Consults on Model Risk Management Principles for Banks
The Prudential Regulation Authority (PRA) launched a consultation (CP6/22) that sets out proposal for a new Supervisory Statement on expectations for management of model risk by banks.
EC Regulation Amends Standards for Calculating Credit Risk Adjustments
The European Commission (EC) published the Delegated Regulation 2022/954, which amends regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.
HKMA Announces Launch of Data Repository on Sustainable Finance
The Hong Kong Monetary Authority (HKMA) announced that the Green and Sustainable Finance (GSF) Cross-Agency Steering Group has launched the information and data repositories and outlined the progress made in advancing the development of green and sustainable finance in Hong Kong.
BIS Hub Updates Work Program for 2022, Announces New Projects
The Bank for International Settlements (BIS) Innovation Hub updated its work program, announcing a set of projects across various centers.
EIOPA Issues Cyber Underwriting Proposal, Statement on Open Insurance
The European Insurance and Occupational Pensions Authority (EIOPA) published two consultation papers—one on the supervisory statement on exclusions related to systemic events and the other on the supervisory statement on the management of non-affirmative cyber exposures.
NGFS Report on Integration of G-Cubed Model into NGFS Scenarios
The Network for Greening the Financial System (NGFS) published a report that explores the feasibility of integrating the G-Cubed general equilibrium model into the NGFS suite of models.
US Senate Members Seek Details on SEC Proposed Climate Disclosure Rule
Certain members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a letter to the Securities and Exchange Commission (SEC)
EIOPA Consults on Review of Securitization Framework in Solvency II
The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on the advice on the review of the securitization prudential framework in Solvency II.
