Featured Product

    FIN-FSA Maintains CCyB at 0%, Launches Reporting System Reform

    September 30, 2020

    FIN-FSA decided to maintain the countercyclical capital buffer (CCyB) requirement for credit institutions at 0% and the maximum loan-to-collateral ratio at the statutory standard level of 90% for residential mortgage loans other than first-home loans. The FIN-FSA Board also decided not to extend validity of the risk-weight floor requirement for housing loans, which expires on January 01, 2021. The minimum risk-weight level of 15% was set in June 2017. However, at present, average risk-weights on residential mortgage loans of Finnish banks exceed the 15% limit, which is why it was decided not to extend the validity of the risk-weight floor. According to another announcement, FIN-FSA launched a reform of the reporting system for the financial standing and risks of supervised entities. The tendering phase for the reporting system is underway, with the system supplier expected to be selected during Spring 2021.

    The reporting system reform will cover data collections for EBA, EIOPA, ESMA, and national (Virati) requirements. The data collections will be transferred gradually to the new reporting system during 2022–2023. A more detailed schedule will be known after the system vendor has been selected. In the new reporting system, reporters will have access to a "reporter portal," in which Finnish and foreign reporters will be authenticated and authorized via the suomi.fi service. The reporting obligations for each reporter will be visible in the "reporter portal." It will also be possible to submit reports to the FIN-FSA via an interface (A2A) provided for the reporter. Reporting feedback on a submitted report will be provided via both the "reporter portal" and the interface (A2A). In the new Reporting System, national reporting will continue to be in CSV format. In a separate statement on the use of testing environment for reporting, FIN-FSA notified that reporters may submit their reports to the testing environment, provided by FIN-FSA, for checking before submitting the official report to the FIN-FSA. It is possible for reporters to receive automatic feedback from the testing environment on format errors present in reports and on reporting that violates EBA and EIOPA filing rules. It is also possible to receive feedback from the testing environment about incorrect validations.

     

    Related Links

    Keywords: Europe, Finland, Banking, Insurance, Securities, Reporting, CCyB, Loan to Collateral Ratio, Systemic Risk, Regulatory Capital, Macro-Prudential Policy, Basel, FIN-FSA

    Featured Experts
    Related Articles
    News

    HKMA Finalizes Policy Modules on Group-Wide Approach and Remuneration

    The Hong Kong Monetary Authority (HKMA) revised the Supervisory Policy Manual module CG-5 that sets out guidelines on a sound remuneration system for authorized institutions.

    July 29, 2021 WebPage Regulatory News
    News

    EBA Guide to Monitor Threshold for Intermediate Parent Undertakings

    The European Banking Authority (EBA) published the final guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate parent undertakings in European Union (EU), as laid down in the Capital Requirements Directive (CRD).

    July 28, 2021 WebPage Regulatory News
    News

    PRA Finalizes Approach to Supervision of International Banks

    In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.

    July 26, 2021 WebPage Regulatory News
    News

    FCA Issues PS21/9 on Implementation of Investment Firms Regime

    The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.

    July 26, 2021 WebPage Regulatory News
    News

    EBA Proposes Regulatory Standards to Identify Shadow Banking Entities

    The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.

    July 26, 2021 WebPage Regulatory News
    News

    IOSCO Proposes Recommendations on ESG Ratings and Data Providers

    The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.

    July 26, 2021 WebPage Regulatory News
    News

    ESMA Group Issues Recommendations on RFR Switch in Interdealer Market

    The European Securities and Markets Authority (ESMA) published recommendations from the Working Group on Euro Risk-Free Rates (RFR) on the switch to risk-free rates in the interdealer market.

    July 26, 2021 WebPage Regulatory News
    News

    ECB Study Assesses Impact of Basel III Finalization Package

    The European Central Bank (ECB) published a paper as well as an article in the July Macroprudential Bulletin, both of which offer insights on the assessment of the impact of Basel III finalization package on the euro area.

    July 26, 2021 WebPage Regulatory News
    News

    ISDA Finds FRTB Results in Higher Capital Charges for Carbon Trading

    The International Swaps and Derivatives Association (ISDA) published a paper that explores the impact of the Fundamental Review of the Trading Book (FRTB) on the trading of carbon certificates.

    July 26, 2021 WebPage Regulatory News
    News

    PRA Updates Remuneration Policy Statement Templates and Tables

    The Prudential Regulation Authority (PRA) published the remuneration policy self-assessment templates and tables on strengthening accountability.

    July 26, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7307