Featured Product

    EBA Revises List of Validation Rules for Reporting by Banks

    March 10, 2021

    EBA issued a revised list of validation rules under its implementing technical standards on supervisory reporting. The updated Excel workbook includes a separate sheet applicable to each reporting framework release, including the EBA reporting framework 3.0. The revised list highlights the validation rules that have been deactivated either for incorrectness or for triggering IT problems. Competent authorities throughout the EU are being informed that data submitted in accordance with these implementing technical standards should not be formally validated against the set of deactivated rules.

    From time to time, EBA publishes information about validation rules that should be disregarded (primarily due to being identified as potentially incorrect). All validation rules are applicable and equally binding. Not meeting "Error" validation rules when submitting data to EBA will cause the file being submitted to be rejected. Where reporting entities are of the opinion that they can only comply with the reporting requirements set out in the applicable reporting standard if they breach a validation rule of the type "error," they should contact their relevant competent authority (and likely submit a Q&A to the EBA Q&A tool). Validation rules with the severity status "Warning" are equally binding, as they shall also be considered and closely monitored by reporters. Explanations about failure should be provided to the competent authority where needed—that is, reporters are expected to analyze the results of "Warning" validation rules and verify and revise the data, if necessary. Some warnings may not be applicable to all reporters, in all circumstances, or to all reference dates. As such, not meeting them will not necessarily prevent the successful submission of data. Warnings may become “Error” validation rules in the future. Where feasible and prudent, new validation rules will likely be introduced as warnings initially.

     

    Related Links

    Keywords: Europe, EU, Banking, Reporting, Validation Rules, Implementing Technical Standards, CRR, EBA

    Featured Experts
    Related Articles
    News

    HKMA Finalizes Policy Modules on Group-Wide Approach and Remuneration

    The Hong Kong Monetary Authority (HKMA) revised the Supervisory Policy Manual module CG-5 that sets out guidelines on a sound remuneration system for authorized institutions.

    July 29, 2021 WebPage Regulatory News
    News

    EBA Guide to Monitor Threshold for Intermediate Parent Undertakings

    The European Banking Authority (EBA) published the final guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate parent undertakings in European Union (EU), as laid down in the Capital Requirements Directive (CRD).

    July 28, 2021 WebPage Regulatory News
    News

    PRA Finalizes Approach to Supervision of International Banks

    In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.

    July 26, 2021 WebPage Regulatory News
    News

    FCA Issues PS21/9 on Implementation of Investment Firms Regime

    The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.

    July 26, 2021 WebPage Regulatory News
    News

    EBA Proposes Regulatory Standards to Identify Shadow Banking Entities

    The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.

    July 26, 2021 WebPage Regulatory News
    News

    IOSCO Proposes Recommendations on ESG Ratings and Data Providers

    The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.

    July 26, 2021 WebPage Regulatory News
    News

    ESMA Group Issues Recommendations on RFR Switch in Interdealer Market

    The European Securities and Markets Authority (ESMA) published recommendations from the Working Group on Euro Risk-Free Rates (RFR) on the switch to risk-free rates in the interdealer market.

    July 26, 2021 WebPage Regulatory News
    News

    ECB Study Assesses Impact of Basel III Finalization Package

    The European Central Bank (ECB) published a paper as well as an article in the July Macroprudential Bulletin, both of which offer insights on the assessment of the impact of Basel III finalization package on the euro area.

    July 26, 2021 WebPage Regulatory News
    News

    ISDA Finds FRTB Results in Higher Capital Charges for Carbon Trading

    The International Swaps and Derivatives Association (ISDA) published a paper that explores the impact of the Fundamental Review of the Trading Book (FRTB) on the trading of carbon certificates.

    July 26, 2021 WebPage Regulatory News
    News

    PRA Updates Remuneration Policy Statement Templates and Tables

    The Prudential Regulation Authority (PRA) published the remuneration policy self-assessment templates and tables on strengthening accountability.

    July 26, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7307