Featured Product

    BoE Issues Updates on Prudential and Statistical Reporting in May 2022

    May 26, 2022

    The Bank of England (BoE) published list of known issues and Statistical Notices on prudential and statistical reporting requirements for banks.

    With respect to the prudential reporting for banks, BoE updated the list of known issues log (describing the issue, along with its severity) for the BoE Banking Data Point Model (DPM) and XBRL Taxonomy. With respect to the statistical reporting, BoE published three Statistical Notices (2022/09, 2022/10, and 2022/11), providing the following guidance: 

    • Statistical Notice 2022/09: The User Acceptance Testing (UAT) environment will be open for testing the Statistical Taxonomy on Bank of England Electronic Data Submission (BEEDS) portal, from May 30, 2022 to July 01, 2022. The accounts for previously nominated principal users will be created and there is no need to opt in to the testing environment.
    • Statistical Notice 2022/10: The Statistical Utility tool has been created on the BEEDS webpage, under the Statistical Forms Taxonomy section, to assist firms in the transition to XBRL reporting. The tool will be a temporary solution and will not be maintained for future updates to the Taxonomy.
    • Statistical Notice 2022/11: BoE published Version 1.2.3 of the Statistics taxonomy and made adjustments to a number of validation rules. With respect to the new version of the BoE Statistics Taxonomy, all entry points remain the same while a change log has been published to outline changes between Version 1.2.2 and Version 1.2.3. A number of validations have been added or amended to ensure the Basic Information template is reported correctly. Additionally, a fix has been introduced for FV_v0044 and a number of CE validations have been removed. BoE stated that only principal users will be set up and it is the responsibility of the principal user to manage/set up any additional users for their firms. Also, firms should report their reporting period end date as month-end.

     

    Related Links

     

    Keywords: Europe, UK, Banking, Data Collection, Basel, Reporting, Statistical Reporting, Statistical Notice, Taxonomy, BEEDS, BoE

    Featured Experts
    Related Articles
    News

    EBA Clarifies Use of COVID-19-Impacted Data for IRB Credit Risk Models

    The European Banking Authority (EBA) published four draft principles to support supervisory efforts in assessing the representativeness of COVID-19-impacted data for banks using the internal ratings based (IRB) credit risk models.

    June 21, 2022 WebPage Regulatory News
    News

    EP Reaches Agreement on Corporate Sustainability Reporting Directive

    The European Council and the European Parliament (EP) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD).

    June 21, 2022 WebPage Regulatory News
    News

    PRA Consults on Model Risk Management Principles for Banks

    The Prudential Regulation Authority (PRA) launched a consultation (CP6/22) that sets out proposal for a new Supervisory Statement on expectations for management of model risk by banks.

    June 21, 2022 WebPage Regulatory News
    News

    EC Regulation Amends Standards for Calculating Credit Risk Adjustments

    The European Commission (EC) published the Delegated Regulation 2022/954, which amends regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.

    June 21, 2022 WebPage Regulatory News
    News

    BIS Hub Updates Work Program for 2022, Announces New Projects

    The Bank for International Settlements (BIS) Innovation Hub updated its work program, announcing a set of projects across various centers.

    June 17, 2022 WebPage Regulatory News
    News

    EIOPA Issues Cyber Underwriting Proposal, Statement on Open Insurance

    The European Insurance and Occupational Pensions Authority (EIOPA) published two consultation papers—one on the supervisory statement on exclusions related to systemic events and the other on the supervisory statement on the management of non-affirmative cyber exposures.

    June 17, 2022 WebPage Regulatory News
    News

    US Senate Members Seek Details on SEC Proposed Climate Disclosure Rule

    Certain members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a letter to the Securities and Exchange Commission (SEC)

    June 16, 2022 WebPage Regulatory News
    News

    EIOPA Consults on Review of Securitization Framework in Solvency II

    The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on the advice on the review of the securitization prudential framework in Solvency II.

    June 16, 2022 WebPage Regulatory News
    News

    UK Authorities Issue Regulatory and Reporting Updates for Banks

    The Prudential Regulation Authority (PRA) issued a statement on PRA buffer adjustment while the Bank of England (BoE) published a notice on the statistical reporting requirements for banks.

    June 15, 2022 WebPage Regulatory News
    News

    BCBS Issues Climate Risk Principles while HKMA Expresses Its Support

    The Basel Committee on Banking Supervision (BCBS) issued principles for the effective management and supervision of climate-related financial risks.

    June 15, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8280