Featured Product

    NBB Amends Guidelines on Use of Counterparty Identification Codes

    May 28, 2021

    NBB published a communication on amendments to the existing national guidelines on the use of counterparty identification codes in the EBA reporting framework. Considering the recent clarifications on the use of counterparty identification codes in various tables in the new version of the EBA implementing technical standards on supervisory reporting, NBB wishes to amend these national guidelines to complement the European guidelines. This communication will apply from the reporting reference date of June 30, 2021.

    In addition to the new requirements on identification codes, NBB is requesting the concerned institutions to apply the following “cascade system”:

    • Institutions are asked to always provide a Legal Entity Identifier, or LEI, code to identify their counterparties in the reporting (insofar as a LEI code is available for these counterparties)
    • If there is no LEI code available for a counterparty, a national code should be used. For Belgian counterparties, this should be the Crossroads Bank for Enterprises (CBE) number
    • Only if there is no LEI or national code (the CBE number for Belgian counterparties) available for a counterparty, an internal code will be requested. In that case, institutions will be asked to use the existing "Gggg(g)(g) code" (as provided for in Communication NBB_2014_05 on the use of counterparty identification codes).

    In a separate circular, NBB specified that it is integrating the EBA guidelines on tri-party repurchase agreements (EBA/GL/2021/01) into its supervisory practice. The EBA guidelines specify conditions for the application of alternative treatment of exposures related to tri-party repurchase agreements for large exposure purposes, as set out in the Capital Requirements Regulation (CRR). These guidelines will apply from June 28, 2021.

     

    Related Links

    Keywords: Europe, Belgium, Banking, Reporting, LEI, Large Exposures, Basel, CRR, Credit Risk, Repo, Triparty Repo, EB

    Featured Experts
    Related Articles
    News

    ECB Amends Guideline on Temporary Collateral Easing Measures

    ECB published Guideline 2021/975, which amends Guideline ECB/2014/31, on the additional temporary measures relating to Eurosystem refinancing operations and eligibility of collateral.

    June 17, 2021 WebPage Regulatory News
    News

    EIOPA Releases Report on Artificial Intelligence Governance Principles

    EIOPA published a report, from the Consultative Expert Group on Digital Ethics, that sets out artificial intelligence governance principles for an ethical and trustworthy artificial intelligence in the insurance sector in EU.

    June 17, 2021 WebPage Regulatory News
    News

    HKMA to Increase Focus on Suptech and Regtech Cloud Adoption

    HKMA published the seventh and final issue of the Regtech Watch series, which outlines the three-year roadmap of HKMA to integrate supervisory technology, or suptech, into its processes.

    June 17, 2021 WebPage Regulatory News
    News

    EC Consults on Improving Transparency in Secondary Markets for NPLs

    EC launched a targeted consultation to improve transparency and efficiency in the secondary markets for nonperforming loans (NPLs).

    June 16, 2021 WebPage Regulatory News
    News

    BIS and Nordic Central Banks Launch Innovation Hub in Stockholm

    BIS, Danmarks Nationalbank, Central Bank of Iceland, Norges Bank, and Sveriges Riksbank launched an Innovation Hub in Stockholm, making this the fifth BIS Innovation Hub Center to be opened in the past two years.

    June 16, 2021 WebPage Regulatory News
    News

    FDIC Tech Sprint Aims to Explore Technologies to Reach Unbanked

    FDITECH, the technology lab of FDIC, announced a tech sprint that is designed to explore new technologies and techniques that would help expand the capabilities of community banks to meet the needs of unbanked individuals and households.

    June 16, 2021 WebPage Regulatory News
    News

    EC Releases Sustainable Finance Taxonomy Compass

    EC released the EU Taxonomy Compass, which visually represents the contents of the EU Taxonomy starting with the EU Taxonomy Climate Delegated Act.

    June 16, 2021 WebPage Regulatory News
    News

    FDIC Proposes Amendments to Real Estate Lending Standards

    FDIC is seeking comments on a rule to amend the interagency guidelines for real estate lending policies—also known as the Real Estate Lending Standards.

    June 15, 2021 WebPage Regulatory News
    News

    EIOPA to Consider Liquidity Risk in Stress Test for 2021

    EIOPA published its annual report, which sets out the work done in 2020 and indicates the planned work areas for the coming months.

    June 15, 2021 WebPage Regulatory News
    News

    ESRB Paper Discusses Measurement of Impact of Bank Failure via Lending

    The ESRB paper that presents an analytical framework that assesses and quantifies the potential impact of a bank failure on the real economy through the lending function.

    June 15, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7116