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

    EC Consults on PSD2 and Open Finance; EU Reaches Agreement on DORA

    The European Commission (EC) published a public consultation on the review of revised payment services directive (PSD2) and open finance.

    May 11, 2022 WebPage Regulatory News
    News

    EC Mandates ESAs to Propose Amendments to SFDR Technical Standards

    The European Commission (EC) has issued two letters mandating the European Supervisory Authorities (ESAs) to jointly propose amendments to the regulatory technical standards under Sustainable Finance Disclosure Regulation or SFDR.

    May 11, 2022 WebPage Regulatory News
    News

    EBA Examines Supervisory Practices, Issues Deposits Reporting Template

    The European Banking Authority (EBA) published its annual report on convergence of supervisory practices for 2021. Additionally, following a request from the European Commission (EC),

    May 11, 2022 WebPage Regulatory News
    News

    US Agency Publications Address Basel, Reporting, and CECL Developments

    The Farm Credit Administration published, in the Federal Register, the final rule on implementation of the Current Expected Credit Losses (CECL) methodology for allowances

    May 09, 2022 WebPage Regulatory News
    News

    SEC Extends Comment Period on Climate Risk Disclosures

    The U.S. Securities and Exchange Commission (SEC) looks set to intensify focus on crypto-assets and cyber risk and extended the comment period on the proposed rules to enhance and standardize climate-related disclosures for investors.

    May 09, 2022 WebPage Regulatory News
    News

    APRA Reduces Committed Liquidity Facility, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility and issued an update on the operational preparedness for zero and negative market interest rates.

    May 09, 2022 WebPage Regulatory News
    News

    CMF Consults on Basel Rules, Presents Roadmap to Address Climate Risks

    The Commission for the Financial Market (CMF) in Chile published capital adequacy ratios (as of February 2022, January 2022, and December 2021) for 17 banks and for the banking system.

    May 06, 2022 WebPage Regulatory News
    News

    PRA Issues Statement on NPEs and Policy on Trading Activity Wind-Down

    The Prudential Regulation Authority (PRA) issued a statement on the European Banking Authority (EBA) guidelines on management of non-performing exposures (NPEs) and forborne exposures.

    May 06, 2022 WebPage Regulatory News
    News

    EBA Updates Standards for 2023 Benchmarking of Internal Approaches

    The European Banking Authority (EBA) updated the implementing technical standards that specify the data collection for the 2023 supervisory benchmarking exercise in relation to the internal approaches used in market risk, credit risk, and IFRS 9 accounting.

    May 06, 2022 WebPage Regulatory News
    News

    EIOPA Responds to Stakeholder Views on Blockchain in Insurance

    The European Insurance and Occupational Pensions Authority (EIOPA) published a feedback statement on the responses received to the consultation on blockchain and smart contracts in insurance.

    May 06, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8179