IFRS published the IFRS Taxonomy 2021, which is based on IFRS standards as at January 01, 2021, including those issued but not yet effective. This version of the taxonomy includes changes to the IFRS Taxonomy 2020, reflecting amended standards on IFRS 16 (leases standard) and IFRS 17 (Insurance Contracts standard), extension of the temporary exemption from applying IFRS 9 (Amendments to IFRS 4), and amendments to IFRS standards under phase 2 of the Interest Rate Benchmark Reform. The taxonomy enables electronic reporting of financial information prepared in accordance with the IFRS standards.
Keywords: International, Banking, Insurance, Securities, IFRS 17, IFRS 9, Insurance Contracts, Financial Instruments, IFRS 16, Leases Standard, Benchmark Reforms, Taxonomy, Reporting, IFRS
The European Commission (EC) published a report summarizing responses to the targeted consultation on the supervisory convergence and the single rulebook in the European Union (EU).
The Office of the Superintendent of Financial Institutions (OSFI) published an update on the discussion paper that intended to engage federally regulated financial institutions and other interested stakeholders in a dialog with OSFI, to proactively enhance and align assurance expectations over key regulatory returns.
The European Central Bank (ECB) published its opinion on a proposal for a regulation on European green bonds, following a request from the European Parliament.
The Advisory Scientific Committee (ASC) of the European Systemic Risk Board (ESRB) published a report that explores the expected impact of digitalization on provision of financial and banking services, and proposes policy measures to address the risks stemming from digitalization.
The European Banking Authority (EBA) announced that the guidelines on the reporting and disclosure of exposures subject to measures COVID-relief measures shall continue to apply until further notice.
The Swedish Financial Supervisory Authority (FI) announced that the capital adequacy reporting as at December 31, 2021 must be done by February 11, 2022.
The Central Bank of the Philippines (BSP) issued communications covering developments related to online lending platforms, open finance framework and roadmap, and on the expected regulations in the area sustainable finance.
The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.
The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).
The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0.