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
    News

    APRA Publishes Results of Climate Risk Self-Assessment Survey

    The Australian Prudential Regulation Authority (APRA) has published the findings of its latest climate risk self-assessment survey conducted across the banking, insurance, and superannuation industries.

    August 04, 2022 WebPage Regulatory News
    News

    ACPR Publishes Updates Related to CRD IV and Covered Bonds

    The French Prudential Supervisory Authority (ACPR) published a notice related to the methods for calculating and publishing prudential ratios under the Capital Requirements Directive (CRD IV) and the minimum requirement for own funds and eligible liabilities (MREL).

    August 03, 2022 WebPage Regulatory News
    News

    BIS Paper Contributes to Debate on Regulating NBFIs and Big Techs

    The Financial Stability Institute (FSI) of the Bank for International Settlements recently published a paper proposing a framework for classifying financial stability regulation as either entity-based or activity-based.

    August 03, 2022 WebPage Regulatory News
    News

    EIOPA Publishes Guidance on Climate Change Scenarios in ORSA

    The European Insurance and Occupational Pension Authority (EIOPA) published the risk dashboard based on Solvency II data and the final version of the application guidance on climate change materiality assessments and climate change scenarios in the Own Risk and Solvency Assessment (ORSA).

    August 02, 2022 WebPage Regulatory News
    News

    EBA and ECB Respond to Proposals on Sustainability Disclosures

    The European Banking Authority (EBA) and the European Central Bank (ECB) published their responses to the consultations of the International Sustainability Standards Board (ISSB) and the European Financial Reporting Advisory Group (EFRAG) on sustainability-related disclosure standards.

    August 01, 2022 WebPage Regulatory News
    News

    BIS Report Notes Existing Gaps in Climate Risk Data at Central Banks

    A Consultative Group on Risk Management (CGRM) at the Bank for International Settlements (BIS) published a report that examines incorporation of climate risks into the international reserve management framework.

    July 29, 2022 WebPage Regulatory News
    News

    EBA Publishes Multiple Regulatory Updates for Regulated Entities

    The European Banking Authority (EBA) published the final guidelines on liquidity requirements exemption for investment firms, updated version of its 5.2 filing rules document for supervisory reporting, and Single Rulebook Question and Answer (Q&A) updates in July 2022.

    July 29, 2022 WebPage Regulatory News
    News

    EIOPA Issues SII Taxonomy and Guide on Sustainability Preferences

    The European Insurance and Occupational Pensions Authority (EIOPA) published Version 2.8.0 of the Solvency II data point model (DPM) and XBRL taxonomy.

    July 29, 2022 WebPage Regulatory News
    News

    EESC Opines on Proposals on CRR and European Single Access Point

    The European Union published, in the Official Journal of the European Union, an opinion from the European Economic and Social Committee (EESC); the opinion is on the proposal for a regulation to amend the Capital Requirements Regulation (CRR).

    July 29, 2022 WebPage Regulatory News
    News

    HM Treasury Publishes Multiple Regulatory Updates in July 2022

    HM Treasury published a draft statutory instrument titled “The Financial Services (Miscellaneous Amendments) (EU Exit) Regulations 2022,” along with the related explanatory memorandum and impact assessment.

    July 29, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8424