BoE published a public working draft of the standalone minimum requirement for own funds and eligible liabilities (MREL) reporting taxonomy, along with the related technical artefacts. This draft taxonomy is a part of the Version 3.1.0 of the banking XBRL taxonomy. Feedback is invited from firms and software vendors by May 17, 2018. BoE aims to publish the final version of the taxonomy and data point model (DPM) dictionary in Summer of 2018.
The taxonomy, DPM dictionary, annotated templates, and validation rules represent the requirements for MREL reporting, as mentioned in the consultation paper CP1/18. The proposals in the CP1/18 aim to provide PRA and BoE with information to monitor firms’ progress toward meeting the interim MREL and their eventual compliance with the end-state MREL, to ensure that the policy objectives that underpin MREL are met. This public working draft is not to be used for reporting. The BoE Electronic Data Submission (BEEDS) system will be used to collect the MREL reporting data.
Comment Due Date: May 17, 2018
Keywords: Europe, UK, Banking, MREL, Reporting, Taxonomy, XBRL, DPM, BEEDS, BoE
Previous ArticleEuropean Parliament Adopts EC Proposal on the Fifth AML Directive
EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.
EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.
MAS published the guidelines on individual accountability and conduct at financial institutions.
APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.
SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.
FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.
ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.
OSFI published the key findings of a study on third-party risk management.
FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.