Featured Product

    MFSA Publishes Guidelines on Reporting Requirements for Foreign Banks

    September 19, 2019

    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
    Related Articles
    News

    FSB Report Finds Steady Increase in Climate-Related Disclosures

    FSB published the annual report that examines to-date progress toward implementation of climate-related disclosure recommendations of the industry-led Task Force on Climate-related Financial Disclosures (TCFD).

    October 29, 2020 WebPage Regulatory News
    News

    APRA Consults on Reporting Standard for Credit Risk Management

    APRA is consulting on the reporting standard for credit risk management (ARS 220.0).

    October 28, 2020 WebPage Regulatory News
    News

    PRA Consults on Proposals to Support Transposition of BRRD2

    PRA launched a consultation (CP18/20) setting out proposals for the "Contractual Recognition of Bail-in" and "Stay in Resolution" Rules.

    October 28, 2020 WebPage Regulatory News
    News

    FASB Consults on XBRL US DQC Rules Taxonomy and Technical Guides

    FASB is consulting on the XBRL US Data Quality Committee (DQC) Rules Taxonomy (DQCRT) along with two technical guides.

    October 27, 2020 WebPage Regulatory News
    News

    EC Proposes to Amend Liquidity Coverage Rules for Covered Bond Issuers

    EC published draft of a delegated regulation amending liquidity coverage rules for covered bond issuers.

    October 27, 2020 WebPage Regulatory News
    News

    ESMA Confirms Endorsement of UK Credit Ratings Post Brexit Transition

    ESMA published an update to its March 2019 statement on the endorsement of credit ratings from UK.

    October 27, 2020 WebPage Regulatory News
    News

    PRA Updates Q&A on Branch Return Form

    PRA published Version 2 of the questions and answers (Q&A) on the Branch Return form.

    October 26, 2020 WebPage Regulatory News
    News

    Regulators Fine Goldman Sachs for Risk Management Failures

    FCA and PRA in the UK, FED in the US, and the authorities in Singapore have fined Goldman Sachs for risk management failures in connection with the 1Malaysia Development Berhad (1MDB).

    October 23, 2020 WebPage Regulatory News
    News

    ISDA Launches IBOR Fallbacks Supplement and Protocol

    ISDA launched the IBOR Fallbacks Supplement and the IBOR Fallbacks Protocol, with both becoming effective on January 25, 2021.

    October 23, 2020 WebPage Regulatory News
    News

    Canada Hosts International Conference of Banking Supervisors

    BCBS announced that OSFI and the Bank of Canada hosted the 21st International Conference of Banking Supervisors (ICBS) virtually on October 19-22, 2020.

    October 22, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 6022