EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting. The update highlights the rules that have been deactivated either for incorrectness or for triggering IT problems. The competent authorities throughout EU are being informed that data submitted in accordance with these implementing technical standards should not be formally validated against the set of deactivated rules.
Validation rules to be disregarded are identified by the presence of a date in the "Deactivated" column in the released Excel worksheet. This indicates the date of the deactivation list in which they were first indicated as deactivated. The updated workbook includes a separate sheet applicable to each reporting requirement, Data Point Model, Taxonomy set release. All validation rules are applicable and equally binding. The worksheet indicates that not meeting "Error" validation rules when submitting data to EBA will cause the file to be rejected; therefore, the submission is not accomplished. Where reporting entities are of the opinion that they can only comply with the reporting requirements set out in the applicable reporting standard if they breach a validation rule of the type "error," they should contact their relevant competent authority (and likely submit a Q&A to the EBA Q&A tool).
Keywords: Europe, EU, Banking, Reporting, Implementing Technical Standards, Validation Rules, Basel, EBA
Previous ArticleFCA Annual Report Outlines Focus Areas for 2019-20 and Beyond
PRA proposed rules (in CP12/21) for the application of existing consolidated prudential requirements to financial holding companies and mixed financial holding companies that have been approved or designated in accordance with Part 12B of the Financial Services and Markets Act 2000 (FSMA).
ECB Banking Supervision announced that euro area banks it directly supervises may continue to exclude certain central bank exposures from the leverage ratio until March 2022.
OSFI decided to increase the Domestic Stability Buffer from 1.00% to 2.50% of total risk-weighted assets, with effect from October 31, 2021.
HKMA is requesting banks to participate in a tech baseline assessment, which forms part of the HKMA Fintech 2025 strategy.
OSFI published two documents to consult on the management of operational risk capital data for institutions required, or for those applying, to use the Basel III standardized approach for operational risk capital in Canada.
The NGFS Study Group on Biodiversity and Financial Stability published a Vision paper exploring the case for action in addressing the financial stability concerns arising from biodiversity loss.
ACPR published the final version of CREDITIMMO 2.3.0 taxonomy for the decree of October 31, 2021.
EC, has approved, under the EU State Aid rules, the fourth prolongation of the Italian guarantee scheme to facilitate the securitization of non-performing loans.
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.
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.