Featured Product

    BCL Issues Updates on AnaCredit Reporting

    April 06, 2020

    BCL updated the list of reporting agents under the AnaCredit Regulation. Also published is an AnaCredit newsletter, which contains news and frequently asked questions (FAQs) on the AnaCredit data collection, including a reminder about the next AnaCredit reporting dates. The newsletter also informs that ECB and national central banks are developing and implementing comparisons between AnaCredit and reports from other statistical datasets. These include reports on balance sheet items (BSI/S1.1 and S2.5), interest rates (MIR/S1.5), and prudential reports (COREP/FINREP). These new controls are planned for 2020. Once the technical specifications have been finalized, BCL will update the relevant documentation on its website.

    The AnaCredit newsletter highlights that BCL expects to receive AnaCredit reporting on time, despite the disruption caused by the COVID-19 pandemic. ECB has not changed the reporting schedule, as it is essential to have reliable statistical information, especially in times of crises. In the event of major difficulties in producing AnaCredit reports, the reporting agents are requested to contact BCL before the submission deadlines of the reports. Furthermore, following discussions with the IT suppliers of reporting solutions on February 29, 2020, it was agreed that the transmission channels will take care of XML Schema Definition (XSD) validation of AnaCredit reports. Thus, submissions that are not valid from an XSD point of view will not be transmitted to BCL. The reporting agent will immediately be informed that it is not in compliance with the requirements of BCL. The transmission channels will gradually implement this blocking of files with XSD errors during 2020.

    With respect to the effect of Brexit on AnaCredit reporting, BCL states that rules CS0021 and CS0140 no longer apply to counterparties resident in the United Kingdom. Thus, legal forms starting with EU can no longer be used. Conversely, legal forms starting with RW are accepted for the United Kingdom for all reports since February 2020. This adaptation will be implemented in the BCL software as soon as possible. In the meantime, if a reporting agent receives BCL feedback with one of the above errors without justification, it should be ignored.

     

    Related Links

    Keywords: Europe, Luxembourg, Banking, AnaCredit, COVID-19, Reporting, Brexit, Newsletter, COREP, FINREP, Statistics, BCL

    Featured Experts
    Related Articles
    News

    EBA Launches Stress Tests for Banks, Issues Other Updates

    The European Banking Authority (EBA) launched the 2023 European Union (EU)-wide stress test, published annual reports on minimum requirement for own funds and eligible liabilities (MREL) and high earners with data as of December 2021.

    January 31, 2023 WebPage Regulatory News
    News

    EBA Proposes Standards for IRRBB Reporting Under Basel Framework

    The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.

    January 31, 2023 WebPage Regulatory News
    News

    FED Issues Further Details on Pilot Climate Scenario Analysis Exercise

    The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.

    January 17, 2023 WebPage Regulatory News
    News

    US Agencies Issue Several Regulatory and Reporting Updates

    The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.

    January 04, 2023 WebPage Regulatory News
    News

    ECB Issues Multiple Reports and Regulatory Updates for Banks

    The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.

    January 01, 2023 WebPage Regulatory News
    News

    HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements

    The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.

    December 30, 2022 WebPage Regulatory News
    News

    EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR

    The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.

    December 29, 2022 WebPage Regulatory News
    News

    CBIRC Revises Measures on Corporate Governance Supervision

    The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.

    December 29, 2022 WebPage Regulatory News
    News

    HKMA Publications Address Sustainability Issues in Financial Sector

    The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.

    December 23, 2022 WebPage Regulatory News
    News

    EBA Updates Address Basel and NPL Requirements for Banks

    The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.

    December 22, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8700