Featured Product

    ECB Amends Rule on Reporting of Supervisory Financial Information

    May 07, 2020

    ECB Regulation 2020/605 has been published in the Official Journal of the European Union. Regulation 2020/605 amends Regulation 2015/534 on the reporting of supervisory financial information (ECB/2020/22). The amendments relate to the simplified and over-simplified supervisory financial reporting, along with certain FINREP data points under IFRS or national accounting frameworks. Regulation 2020/605 shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. It shall apply from June 01, 2020.

    The regulation that is being amended (2015/534) lays down reporting requirements for the supervisory financial information to be submitted by supervised entities to national competent authorities. Regulation 2015/534 requires supervised entities to report supervisory financial information based on the templates developed by EBA and laid down by the Implementing Regulation 680/2014. Implementing Regulation 680/2014 has recently been amended, resulting in changes to the templates and instructions for the reporting of supervisory financial information. This makes it necessary to align Regulation 2015/534 with the Implementing Regulation 2020/429, which amended Regulation 680/2014. Therefore, Regulation 2015/534 is being amended as follows:

    • Annex I entitled "Simplified supervisory financial reporting" is being amended in accordance with Annex I to the Regulation (ECB/2020/22)
    • Annex II entitled "Over-simplified supervisory financial reporting" is being amended in accordance with Annex II to the Regulation (ECB/2020/22)
    • Annex IV entitled "FINREP data points under IFRS or National GAAP compatible with IFRS" is being replaced by Annex III to the Regulation (ECB/2020/22)
    • Annex V entitled “FINREP data points under national accounting frameworks" is being replaced by Annex IV to the Regulation (ECB/2020/22)

     

    Related Link: Regulation 2020/605

    Effective Date: May 27, 2020

    Keywords: Europe, EU, Banking, Accounting, Reporting, FINREP, IFRS, GAAP, Regulation 680/2014, Regulation 2015/534, Financial Reporting, ECB

    Related Articles
    News

    EU Amends CRD4 and CRD5 as Part of Capital Markets Recovery Package

    EU published Directive 2021/338, which amends the Markets in Financial Instruments Directive (MiFID) II and the Capital Requirements Directives (CRD 4 and 5) to facilitate recovery from the COVID-19 crisis.

    February 26, 2021 WebPage Regulatory News
    News

    EU Committee Recommends Systemic Risk Buffer of 4.5% in Norway

    The Standing Committee of the European Free Trade Association (EFTA) recommended that a systemic risk buffer level of 4.5% for domestic exposures can be considered appropriate for addressing the identified systemic risks to the stability of the financial system in Norway.

    February 25, 2021 WebPage Regulatory News
    News

    PRA Clarifies Approach to Onshoring of Credit Risk Rules for UK Banks

    In a recent statement, PRA clarified its approach to the application of certain EU regulatory technical standards and EBA guidelines on standardized and internal ratings-based approaches to credit risk, following the end of the Brexit transition.

    February 25, 2021 WebPage Regulatory News
    News

    FSB Sets Out Work Priorities for 2021

    In a recently published letter addressed to the G20 finance ministers and central bank governors, the FSB Chair Randal K. Quarles has set out the key FSB priorities for 2021.

    February 25, 2021 WebPage Regulatory News
    News

    EU Publishes Corrigendum to Revised Capital Requirements Regulation

    EU published, in the Official Journal of the European Union, a corrigendum to the revised Capital Requirements Regulation (CRR2 or Regulation 2019/876).

    February 25, 2021 WebPage Regulatory News
    News

    ESAs Issue Statement on Application of Sustainability Disclosures Rule

    ESAs published a joint supervisory statement on the effective and consistent application and on national supervision of the regulation on sustainability-related disclosures in the financial services sector (SFDR).

    February 25, 2021 WebPage Regulatory News
    News

    EC Consults on Crisis Management and Deposit Insurance Frameworks

    EC published a public consultation on the review of crisis management and deposit insurance frameworks in EU.

    February 25, 2021 WebPage Regulatory News
    News

    HKMA Enhances Loan Guarantee Scheme to Alleviate Pressure on SMEs

    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.

    February 24, 2021 WebPage Regulatory News
    News

    EBA Proposes Standards for Supervisory Cooperation Under IFD

    EBA launched consultations on the regulatory and implementing technical standards on cooperation and information exchange between competent authorities involved in prudential supervision of investment firms.

    February 24, 2021 WebPage Regulatory News
    News

    BoE Addresses Banks in Scope of First Resolvability Assessment

    BoE issued a letter to the CEOs of eight major UK banks that are in scope of the first Resolvability Assessment Framework (RAF) reporting and disclosure cycle.

    February 24, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6629