BoE Provides Reporting Update on Form AS and Form FV
BoE updated the known issues document for the statistical reporting Forms AS and FV. The BEEDS external User Acceptance Testing for the updated taxonomy for Forms AS and FV (ASFV version 1.1.0) was successfully completed on July 16. The taxonomy version 1.1.0 is now live in BEEDS and reporting institutions can submit Form AS and FV returns for the first and second quarter reporting periods, the deadline for which remains the September 01, 2020. The User Acceptance Testing has identified that securities denominated in currency CNH cannot be reported as intended on Form AS. The known issues document has been updated with the details of this issue and the required mitigating actions.
Form AS data are primarily used to assess the holdings of securities on the balance sheet of UK resident monetary financial institutions, held for their own purposes. Statistics produced from these data are used within the Bank of England (for example, by the Monetary Policy and Financial Policy Committees) and by institutions such as the Office for National Statistics, BIS, and ECB. For Form AS purposes, securities are defined as negotiable financial instruments, including debt and equity securities. Negotiability refers to the fact that legal ownership of the instrument is readily capable of being transferred from one owner to another by delivery or endorsement.
Additionally, Form FV should cover the economic activity of any UK resident financial vehicle corporations that operate or conduct business on behalf of a monetary financial institution. Financial vehicle corporations will include entities such as financial vehicle holding companies, securitization vehicles, funding companies, and securitization trustees. Form FV should be reported on a single consolidated submission, where consolidation covers all financial vehicle corporations, within a vehicle group, acting on behalf of a monetary financial institution.
Related Links
Keywords: Europe, UK, Banking, Statistical Reporting, Form AS, Form FV, UAT, BEEDS, Taxonomy, Securitization, BoE
Previous Article
IAIS Launches Survey on Treatment of Certain Investments in ICSRelated Articles
EBA Finalizes Templates for One-Off Climate Risk Scenario Analysis
The European Banking Authority (EBA) has published the final templates, and the associated guidance, for collecting climate-related data for the one-off Fit-for-55 climate risk scenario analysis.
EBA Mulls Inclusion of Environmental & Social Risks to Pillar 1 Rules
The European Banking Authority (EBA) recently published a report that recommends enhancements to the Pillar 1 framework, under the prudential rules, to capture environmental and social risks.
BCBS Consults on Disclosure of Crypto-Asset Exposures of Banks
As a follow on from its prudential standard on the treatment of crypto-asset exposures, the Basel Committee on Banking Supervision (BCBS) proposed disclosure requirements for crypto-asset exposures of banks.
BCBS and EBA Publish Results of Basel III Monitoring Exercise
The Basel Committee on Banking Supervision (BCBS) and the European Banking Authority (EBA) have published results of the Basel III monitoring exercise.
PRA Updates Timeline for Final Basel III Rules, Issues Other Updates
The Prudential Regulation Authority (PRA) recently issued a few regulatory updates for banks, with the updated Basel implementation timelines being the key among them.
US Treasury Sets Out Principles for Net-Zero Financing
The U.S. Department of the Treasury has recently set out the principles for net-zero financing and investment.
EC Launches Survey on G7 Principles on Generative AI
The European Commission (EC) launched a stakeholder survey on the draft International Guiding Principles for organizations developing advanced artificial intelligence (AI) systems.
ISSB Sustainability Standards Expected to Become Global Baseline
The finalization of the two sustainability disclosure standards—IFRS S1 and IFRS S2—is expected to be a significant step forward in the harmonization of sustainability disclosures worldwide.
IOSCO, BIS, and FSB to Intensify Focus on Decentralized Finance
Decentralized finance (DeFi) is expected to increase in prominence, finding traction in use cases such as lending, trading, and investing, without the intermediation of traditional financial institutions.
BCBS Assesses NSFR and Large Exposures Rules in US
The Basel Committee on Banking Supervision (BCBS) published reports that assessed the overall implementation of the net stable funding ratio (NSFR) and the large exposures rules in the U.S.
