EC held a conference on preparing supervisory reporting for digital age. This conference brought together the best in institutional knowledge, industry expertise, and academic analytical research to look at the present challenges and future opportunities related to supervisory reporting.
The conference offered an opportunity for EC to present the latest developments in a variety of its ongoing initiatives related to supervisory reporting. It included panel discussions on the reporting burden for regulated entities versus the information needs of supervisors as well as on possible tools to simplify and streamline supervisory reporting going forward. The Agenda covered the following topics:
- Presentation of the state of play of the Fitness Check of supervisory reporting requirements
- Presentation of ESMA’s initiatives on supervisory reporting
- Balancing the data needs of supervisors/policymakers and the reporting burdens for institutions
- Presentation on digital transformation and financial supervision
- Presentation by ECB on how technology may impact the needs and potential for measurement, both for businesses and for authorities
- Potential options for improving supervisory reporting in the short, medium, and long term
Keywords: Europe, EU, Banking, Supervisory Reporting, Regtech, Conference, EC
HKMA announced that enhancements will be made to the Special 100% Loan Guarantee of the SME Financing Guarantee Scheme (SFGS) and the application period will be extended to December 31, 2021.
BoE has set out a three-phased plan to transform data collection from the UK financial sector over the next decade.
BIS recently made a couple of announcements with respect to the planned and ongoing work in the area of financial technology.
ESRB updated the list of national macro-prudential measures applied by each member state in the European Economic Area.
BoE has set out results of a survey on the impact of COVID-19 events on the use of machine learning and data science.
In response to a request from the European Council and Parliament, ECB published an opinion on the proposed regulation on markets in crypto-assets.
APRA announced the updated aggregate amounts for the 2021 Committed Liquidity Facility (CLF) established between the Reserve Bank of Australia (RBA) and certain locally incorporated authorized deposit-taking institutions that are subject to the Liquidity Coverage Ratio (LCR).
ECB published supervisory Memorandums of Understanding (MoUs) with UK as well as other European and non-European authorities.
EIOPA identified business model sustainability and adequate product design as the two EU-wide strategic supervisory priorities.
After considering comments received on the November 2020 proposal, US Agencies (FDIC, FED and OCC) are proceeding with the proposed revisions to the reporting forms and instructions for Call Reports FFIEC 031, FFIEC 041, and FFIEC 051.