OSFI issued its annual update to the manual of reporting forms and instructions for deposit-taking institutions. The changes to several reporting forms and instructions were announced in a letter addressed to the Chief Financial Officers of banks and federally regulated trust and loan companies and Principal Officers of foreign bank branches.
Changes made to the following regulatory reporting forms and instructions are effective for 2020 filing:
- Mortgage Loans Report (E2) (delayed to first quarter of 2021)
- Deposit Liabilities (K4)
- Supplementary Return for Foreign Bank Branches (K3)
- Liquidity Coverage Ratio Return (LA)
- Basel Capital Adequacy Reporting, or BCAR (BA)
- Net Cumulative Cash Flow Return (OSFI600)
- Consolidated Income Statement (P3) (effective some time in 2020—New memo items to be filed as an unstructured filing)
- Large Exposure Return "unstructured - OSFI930"—New
- Net Stable Funding Ratio "unstructured—OSFI921"/"structured – DT1"—For D-SIBs only (Third Quarter of 2020)—New
- Interbank and Major Exposures Return Appendices (2A/2L)—New (2A effective December 2019/2L test data effective June 2020, formal reporting effective September 2020)
- Joint Balance Sheet (Z4)—New
- GIC Offer Sheet Return (GA-GB)—New
- Insured Residential Mortgages (RM)—Trust and Loan Companies Only—New
Changes to the NCR (credit risk data) returns (RAPCORP, BB, BC, BD, BE, BF and BG) have been postponed and will be incorporated with the proposed changes for 2021. The NCR returns include IRB Credit Data Wholesale Portfolio Part-1 (BB) and Part-2 (BC/BP), IRB Credit Data Retail Portfolio Part-1 (BD) and Part-2 (BE/BO), IRB Credit Data Wholesale Transaction (BF), and IRB Credit Data Wholesale Transaction Defaulted and Fully Resolved (BG).
Keywords: Americas, Canada, Banking, Reporting, Basel III, BCAR, LCR, NSFR, Large Exposures, OSFI
EU published Directive 2021/338, which amends the Markets in Financial Instruments Directive (MiFID) II and the Capital Requirements Directives (CRD 4 and 5) to facilitate recovery from the COVID-19 crisis.
The Standing Committee of the European Free Trade Association (EFTA) recommended that a systemic risk buffer level of 4.5% for domestic exposures can be considered appropriate for addressing the identified systemic risks to the stability of the financial system in Norway.
In a recent statement, PRA clarified its approach to the application of certain EU regulatory technical standards and EBA guidelines on standardized and internal ratings-based approaches to credit risk, following the end of the Brexit transition.
In a recently published letter addressed to the G20 finance ministers and central bank governors, the FSB Chair Randal K. Quarles has set out the key FSB priorities for 2021.
EU published, in the Official Journal of the European Union, a corrigendum to the revised Capital Requirements Regulation (CRR2 or Regulation 2019/876).
ESAs published a joint supervisory statement on the effective and consistent application and on national supervision of the regulation on sustainability-related disclosures in the financial services sector (SFDR).
EC published a public consultation on the review of crisis management and deposit insurance frameworks in EU.
HKMA announced that enhancements will be made to the Special 100% Loan Guarantee of the SME Financing Guarantee Scheme (SFGS) and the application period will be extended to December 31, 2021.
EBA launched consultations on the regulatory and implementing technical standards on cooperation and information exchange between competent authorities involved in prudential supervision of investment firms.
BoE issued a letter to the CEOs of eight major UK banks that are in scope of the first Resolvability Assessment Framework (RAF) reporting and disclosure cycle.