RBI Extends Reporting Timelines for Banks Amid Pandemic
RBI extended, by up to 30 days, the timelines for submission of various regulatory returns to address disruption due to the COVID-19 pandemic. The extension includes regulatory returns on large exposures, exposures to a qualifying central counterparty, and certain reports under Basel III capital regulations. The extension will be applicable to regulatory returns required to be submitted up to June 30, 2020.
All regulatory returns required to be submitted by all scheduled commercial banks, payments banks and local area banks, India financial institutions, and co-operative banks to the Department of Regulation can be submitted with a delay of up to 30 days from the due date. The entities that are in a position to submit the returns earlier may continue to do so. It may be noted that no extension in timeline is permitted for submission of statutory returns—that is, returns prescribed under the Banking Regulation Act, 1949, RBI Act, 1934 or any other Act (for instance, returns related to cash reserve ratio/statutory liquidity ratio). The annex to the RBI notification further details these deadline extensions.
Keywords: Asia Pacific, India, Banking, COVID-19, Reporting, Large Exposures, Basel, Regulatory Capital, CCP Exposures, RBI
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
OJK Publishes Regulatory Notifications Amid COVID-19 PandemicRelated Articles
NGFS Updates Address Short-Term Climate Scenarios and Transition Plans
The Network for Greening the Financial System (NGFS) is exploring the development of short-term climate scenarios to complement its existing scenario framework of long-term climate scenarios.
ISSB Updates Address ESG Issues while IASB Consults on Impairments
The International Sustainability Standards Board (ISSB) is seeking feedback, until August 09, 2023, on the exposure draft that sets out the methodology proposed by ISSB to amend the Sustainability Accounting Standards Board (SASB) Standards' metrics
ESRB Publishes Report on Cryptos and DeFi; ECB Updates on Digital Euro
The European Systemic Risk Board (ESRB) published a report that outlines the systemic implications of crypto markets and proposes policy options to address the risks stemming from crypto-assets and decentralized finance or DeFi.
EU Agencies Issue Updates on DORA, ESAP, and Crowdfunding Regulation
The European Supervisory Authorities (ESAs) published a discussion paper on their joint advice to the European Commission (EC) on proposals to specify criteria for critical information and communication technology (ICT) third-party service providers
UK Authorities Issue Updates, Finalize Policy on Model Risk Management
The Prudential Regulation Authority (PRA) finalized the model risk management principles for banks, the policy statement PS5/23 on risks from contingent leverage, and PS4/23 on moving senior managers regime forms from the PRA Rulebook.
APRA Revises Implementation Timeline for Operational Risk Standard
The Australian Prudential Regulation Authority (APRA) updated the implementation date of the new cross-industry prudential standard CPS 230 on operational risk management
BCBS Consults on Basel FAQs and Amendments, Issues Other Updates
The Basel Committee on Banking Supervision (BCBS) published a report assessing implementation of the global Basel standards on net stable funding ratio (NSFR) and large exposures (LEX) in South Africa
EBA Announces Multiple Regulatory and Reporting Updates in April 2023
The European Banking Authority (EBA) published consultations on the amendments to the guidelines on risk-based anti-money laundering and countering the financing of terrorism (AML/CFT) supervision
FSB Issues Statement on USD LIBOR Transition, Issues Other Updates
The Financial Stability Board (FSB) released a report that offers insights into how financial institutions incorporate climate-related metrics into their compensation frameworks
ACPR Issues Updates on Reporting by Banks and on DLT Pilot Scheme
The French Prudential Supervisory Authority (ACPR) published reporting updates for the banking sector
