CSSF Updates Reporting Requirements, Sets CCyB Rate at 0.50%
CSSF published Regulation No. 20-06 that sets out the countercyclical buffer rate for the fourth quarter of 2020 at 0.50%. This rate will be applicable from January 01, 2021. Annex 1 to the regulation lays out elements that have been considered in setting the applicable countercyclical buffer rate while Annex 2 presents the text of the Systemic Risk Committee recommendation. The regulation shall come into force on the day of its publication in the Official Journal of the Grand Duchy of Luxembourg. In addition, CSSF published version 5.9 of the reporting requirements for credit institutions.
In December 2019, EBA had published the revised guidelines on harmonized definition and templates for funding plans of credit institutions (EBA/GL/2019/05). Version 5.9 of the reporting requirements include this update of the legal reference (EBA/GL/2019/05) for funding plans reporting. The document on reporting requirements for credit institutions aims to provide an overview of the periodical reporting requirements and other regular reporting applicable to credit institutions in Luxembourg (Chapters 1 to 4) as well as the reporting formats and technical specifications (Chapter 5).
Related Links (in French and English)
Keywords: Europe, EU, Luxembourg, Banking, CCyB, Regulatory Capital, Basel, Reporting, Funding Plans, EBA, CSSF
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
CMF Finalizes Regulations Under Basel Framework in ChileRelated Articles
ESAs Issue Multiple Regulatory Updates for Financial Sector Entities
The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.
ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments
The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.
IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets
The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.
EBA Finalizes Methodology for Stress Tests, Issues Other Updates
The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups
OSFI Sets Out Work Priorities and Reporting Updates for Banks
The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.
APRA Finalizes Changes to Capital Framework, Issues Other Updates
The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.
BIS Hub and Central Banks Conduct CBDC and DeFI Pilots
The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.
ECB Sets Deadline for Banks to Meet Its Climate Risk Expectations
The European Central Bank (ECB) published the results of its thematic review, which shows that banks are still far from adequately managing climate and environmental risks.
ESAs, ECB, & EC Issue Multiple Regulatory Updates for Financial Sector
Among its recent publications, the European Banking Authority (EBA) published the final standards and guidelines on interest rate risk arising from non-trading book activities (IRRBB)
EC Adopts Final Rules Under CRR, BRRD, and Crowdfunding Regulation
The European Commission (EC) recently adopted regulations with respect to the calculation of own funds requirements for market risk, the prudential treatment of global systemically important institutions (G-SIIs)
