EBA published a corrective update (18.104.22.168) to the XBRL taxonomy, which competent authorities shall use for the remittance of data under the EBA implementing technical standards on supervisory reporting. The revised taxonomy will be used for the first reporting of Financial Reporting requirements compiled under IFRS 9.
This update modifies and replaces the previously published 2.7 taxonomy. It corrects technical errors in the reportable content and errors in the XBRL implementation of some validation rules. Reports that previously envisaged to be remitted under the taxonomy set 2.7 should use the corrected taxonomy 22.214.171.124, which is "instance compatible" with set 2.7. The first report under 2.7.01 is expected with relation to data referring to March 2018. The published documents include updates on the following items:
- Updated XBRL taxonomy
- Corrected EBA Validation Rules spreadsheet
- Updated DPM database
- Annotated table layout corrections for C 17.01.a
Related Link: Updated Taxonomy Documents—Version 126.96.36.199
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BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).
EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).
FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.
IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.
FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).
EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.
ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.
PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.
US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.
IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.