MFSA Publishes Guidelines on Reporting Requirements for Foreign Banks
MFSA published a circular to branches of foreign credit institutions (foreign branches) in Malta on the supervisory reporting requirements. These guidelines on supervisory reporting requirements for foreign branches provide information on the applicability of all reporting templates within the different modules. Foreign branches are required to submit to MFSA certain reporting modules—FINREP, FINREP_AE, and COREP_OF (C_15.00 only)—on a quarterly basis for reference dates March, June, September, and December.
Foreign branches are requested to take the guidelines into consideration when populating and submitting supervisory reporting modules. This means that any (re)submissions to the MFSA should omit templates that are not applicable and/or not required to be reported. This also means that only applicable templates should be validated and converted to XBRL prior to submission to MFSA. The circular states that the MFSA webpage on supervisory reporting now includes a dedicated area for foreign branches, whereby reporting agents can download the templates and instructions relating to the data modules required to be submitted to MFSA. The webpage also provides information on the submission of modules, including a Remittance Timetable and a guidelines document—Licence Holder (LH) Portal for Branches.
Reporting agents are being reminded that in cases in which the ZIP filename and the XBRL filename do not match the naming convention, as outlined in the document LH Portal for Branches, the upload will be unsuccessful. Attention is also being drawn with respect to the folder structure of submissions made to MFSA. It is essential that there are no intermediary folders in any (re)submissions. This means that the module folder should directly include the Excel templates and the XBRL file, as indicated in section 4 of the document LH Portal for Branches. In cases of re-submissions, foreign branches are also being reminded to resubmit the applicable Excel templates for the whole module, not only the templates for which revisions were expected. This also means that the resubmitted XBRL file should include data related to all the applicable templates of the specific module.
Related Links
Keywords: Europe, Malta, Banking, Guidelines, COREP, FINREP, Reporting, Asset Encumbrance, XBRL, MFSA
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Pierre-Etienne Chabanel
Brings expertise in technology and software solutions around banking regulation, whether deployed on-premises or in the cloud.
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Previous Article
APRA Revises Standard on Margin Rules for Uncleared DerivativesRelated Articles
US Agencies Temporarily Amend Supplementary Leverage Ratio Calculation
US Agencies (FDIC, FED, and OCC) published an interim final rule that temporarily revises the supplementary leverage ratio calculation for depository institutions.
EBA Proposes Revised Standards for Own Funds and Eligible Liabilities
EBA published a consultation paper on the draft amended regulatory technical standards on own funds and eligible liabilities.
EBA Publishes Guidelines on Loan Origination and Monitoring
EBA published guidelines on loan origination and monitoring, which bring together prudential standards and consumer protection obligations, along with the anti-money laundering and the Environmental, Social, and Governance (ESG) considerations.
EBA Sets Out Supervisory Convergence Plan for 2020
EBA published a report on convergence of supervisory practices in 2019.
PRA Publishes Q&A on Property Valuation Requirements Under CRR
PRA published a set of questions and answers (Q&A) covering common queries regarding residential and commercial property valuations, for the purpose of the Capital Requirements Regulation (CRR), during the period of disruption caused by COVID-19 pandemic.
IOSCO Consults on Outsourcing Principles for Operational Resilience
IOSCO proposed updates to its principles for regulated entities that outsource tasks to service providers.
MAS Consortium to Develop AI Fairness Metrics for Credit Scoring
MAS announced that the first phase of the Veritas initiative will commence with the development of fairness metrics in credit risk scoring and customer marketing.
FSI Examines Financial Stability Implications of Payment Deferrals
FSI published a brief note that examines challenges facing the banking sector as a result of the payment deferral programs put in place to support borrowers affected by the COVID-19 pandemic.
BoE Updates Definitions for BTL Data Collection
BoE published the Statistical Notice 2020/4 to update the buy-to-let (BTL) Phase 2 and Phase 3 definitions for the Interest Rate Type data item.
RBNZ Publishes Financial Stability Report for May 2020
RBNZ published the financial stability report for May 2020. This review of the financial system in the country highlights that the economic disruption associated with COVID-19 will present challenges to the financial system.
