Featured Product

    ECB Extends Certain Reporting Timelines Amid COVID-19 Outbreak

    April 15, 2020

    ECB is allowing significant institutions to delay the submission of supervisory data under the technical standards on supervisory reporting and benchmarking of internal approaches. The allowed delay is one month, for remittance dates between March 2020 and May 2020. In addition, ECB is postponing by one month the remittance dates for its most recurring requests falling between March 2020 and May 2020. The individual Joint Supervisory Teams will communicate an updated remittance calendar to the banks they cover. ECB also published the frequently asked questions (FAQs) on supervisory measures of ECB in response to COVID-19 outbreak.

    The FAQs provide clarifications on the relief measures announced so far, including those regarding asset quality deterioration and non-performing loans (NPLs), operational aspects of supervision, and capital and liquidity requirements. With respect to reporting, ECB emphasized that the liquidity coverage ratio (LCR) and Additional Liquidity Monitoring Metrics (ALMM) templates have been identified as a priority and should be reported as planned. However, the submission of the information on funding plans can be delayed by two months.

    ECB also expects supervised institutions to apply the EBA harmonized reporting framework version 2.9 with the reference date March 31, 2020, in accordance with the adopted Implementing Act amending Regulation 680/2014. The grace period of one month should also be granted to less significant institutions that are subject to EBA and ECB reporting obligations under the implementing technical standards, the ECB FINREP regulation, and other rules. This flexibility is expected to reduce the operational burden on banks in the coming weeks and months and to enable banks to report with an adequate level of data quality. The measures may be extended or reviewed at a later date in response to further developments with respect to the COVID-19 outbreak.


    Related Links

    Keywords: Europe, EU, Banking, COVID-19, Reporting, Deadline Extension, FAQ, Benchmarking, Reporting Framework 2.9, FINREP, Internal Approaches, EBA, ECB

    Featured Experts
    Related Articles

    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

    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

    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

    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

    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

    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

    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

    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

    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

    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