BaFin and Bundesbank issued a statement on proportional application, in Germany, of the EBA guidelines on reporting and disclosures for COVID-19 measures (EBA/GL/2020/07). The EBA guidelines, which were published on June 02, 2020, are aimed to address data gaps in supervisory reporting and disclosures associated with the measures to address the COVID-19 crisis. BaFin mentioned that the first report is expected on the reporting date September 2020 (with a submission deadline until November 11, 2020).
In accordance with the EBA guidelines, the reports are to be submitted by all credit institutions under Capital Requirements Regulation (CRR) at both the individual and group level, taking into account the waiver in accordance with Article 7 of CRR. Promotional banks are also required to submit the reports. Institutions are required to report data pursuant to reporting tables F 90.01, F 90.02, F 91.01, F 91.02, and F 91.05. This applies regardless of the level of consolidation or the size of an institution. The reporting frequency is quarterly and the reports must be submitted to Bundesbank as per the reporting deadlines for COREP and FINREP reporting in accordance with the implementing technical standards on supervisory reporting. With regard to disclosures, EBA guidelines have waived the application of disclosure requirements for institutions that are not identified as global or other systemically important institutions. Therefore, for German less significant institutions and promotional banks, there are no disclosure requirements.
Keywords: Europe, Germany, Banking, COVID-19, Reporting, Disclosures, Basel, Credit Risk, Regulatory Capital, CRR, Loan Moratorium, COREP, FINREP, EBA, BaFin, Bundesbank
Previous ArticlePRA to Extend Temporary High Balance Coverage Amid COVID Crisis
The Central Bank of the Philippines (BSP) issued communications covering developments related to online lending platforms, open finance framework and roadmap, and on the expected regulations in the area sustainable finance.
The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.
The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).
The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0.
The Hong Kong Monetary Authority (HKMA) published a circular, along with the reporting form and instructions, for self-assessment, by authorized institutions, of compliance with the Code of Banking Practice 2021.
The Financial Conduct Authority (FCA) decided to register European DataWarehouse Ltd and SecRep Limited as securitization repositories under the UK Securitization Regulation, with effect from January 17, 2022.
The European Commission (EC) published the Delegated Regulation 2022/25, which supplements the Investment Firms Regulation (IFR or Regulation 2019/2033) with respect to the regulatory technical standards specifying the methods for measuring the K-factors referred to in Article 15 of the IFR.
The Bank of International Settlements (BIS) published a paper that assesses the ways in which platform-based business models can affect financial inclusion, competition, financial stability and consumer protection.
The Central Bank of Egypt (CBE) published a circular with instructions on emergency liquidity assistance to banks that are unable to meet their liquidity requirements.
The European Supervisory Authorities (ESAs) published the list of identified financial conglomerates for 2021.