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May 18, 2018

EC published the Commission Implementing Regulation (EU) 2018/688 that amends the Implementing Regulation (EU) 2016/2070 on benchmarking portfolios, reporting templates, and reporting instructions. This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

Regulation (EU) 2016/2070 specifies the information that institutions must report to EBA and to competent authorities to enable the assessments of internal approaches for calculating own funds requirements (benchmarking exercise) in accordance with Article 78 of the Capital Requirements Directive (CRD) IV. Considering that the benchmarking exercise is of at least annual duration and that the focus of the competent authorities' assessments and of EBA's reports may change over time, exposures or positions that are included in the benchmarking portfolios, and therefore also reporting requirements, need to be regularly adapted accordingly. Therefore, it is appropriate to amend Annexes I to VI to Implementing Regulation (EU) 2016/2070. Regulation (EU) 2016/2070 has been amended as follows:

  • Article 7(3) is replaced by the following: “3. By way of derogation from Article 2 and until May 31, 2018, institutions shall not be required to report column 180 of templates 102 and 103 of Annex III where they do not compute the own funds requirements for credit risk resulting from the application of the standardized approach.”
  • Annex I has been replaced by the text set out in Annex I to this Regulation
  • Annex II has been replaced by the text set out in Annex II to this Regulation
  • Annex III has been replaced by the text set out in Annex III to this Regulation
  • Annex IV has been replaced by the text set out in Annex IV to this Regulation
  • Annex V has been replaced by the text set out in Annex V to this Regulation
  • Annex VI has been replaced by the text set out in Annex VI to this Regulation

Institutions should be given sufficient time from the entry into force of this Regulation to report results of the benchmarking exercise to the competent authorities. Consequently, the deadline set out in Article 4(2) of Regulation (EU) 2016/2070 should not apply with respect to the reporting in 2018. This regulation is based on the draft implementing technical standards submitted by EBA to EC.


Related Link: Regulation (EU) 2018/688

Effective Date: June 07, 2018

Keywords: Europe, EU, Banking, Regulation 2018/688, CRD IV, Benchmarking Portfolios, Reporting, EC

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