FASB announced that SEC has accepted the 2019 U.S. GAAP Financial Reporting Taxonomy and the 2019 SEC Reporting Taxonomy. For the 2019 taxonomy updates, some elements included in the 2018 GAAP Financial Reporting Taxonomy have been relocated to the 2019 SEC Reporting Taxonomy. The 2019 GAAP Financial Reporting Taxonomy contains updates for accounting standards and other improvements since the 2018 taxonomy, as used by issuers filing with SEC.
The 2019 SEC Reporting Taxonomy contains elements necessary to meet the SEC requirements for financial schedules, condensed consolidating financial information for guarantors, and disclosures about oil- and gas-producing activities. The SEC Reporting Taxonomy also includes dimensional elements whose underlying recognition and measurement are not specified by GAAP, but are elements commonly used by GAAP filers. FASB specifies that questions about using the taxonomies and creating and submitting the XBRL tagged interactive data files in compliance with SEC rules should be directed to SEC.
Keywords: Americas, US, Accounting, Reporting, Taxonomy, GAAP Taxonomy, SEC Reporting Taxonomy, FASB, SEC
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HKMA has published a circular that sets out the regulatory and reporting treatment for loans that participating authorized institutions may grant to eligible borrowers under the 100% Personal Loan Guarantee Scheme.
ECB published the results of the assessment of internal models that banks use to calculate risk-weighted assets for credit, market, and counterparty credit risks.
PRA published a statement on the regulatory treatment of retail residential mortgage loans under the Mortgage Guarantee Scheme, or MGS.
FCA is consulting, via CP21/7, on the second phase of proposed rules to introduce the UK Investment Firm Prudential Regime (IFPR).
HM Treasury and BoE announced the joint creation of a Central Bank Digital Currency (CBDC) Taskforce to coordinate the exploration of a potential central bank digital currency in UK.
EIOPA published an opinion to set out its expectations on the supervision of the integration of climate change risk scenarios by insurers in their Own Risk and Solvency Assessment (ORSA).
Bundesbank published two circulars on AnaCredit reporting requirements. Circular 27/2021 covers changes to the reporting of branches, additional attributes to be reported for investment funds from August 01, 2021, and updates to the list of international organizations.
EC published the Implementing Regulation 2021/622 that lays down implementing technical standards for reporting of the minimum requirement for own funds and eligible liabilities (MREL).
BCBS has set out the strategic work priorities, as part of its the work program for 2021-22.
PRA published the policy statement PS8/21, which contains the final supervisory statement SS3/21 on the PRA approach to supervision of the new and growing non-systemic banks in UK.