Featured Product

    EBA Sets Out Questionnaire for Study on Compliance Cost of Reporting

    August 14, 2020

    EBA has set up two separate online survey tools for the questionnaire for institutions in context of the study to assess the cost of compliance with supervisory reporting requirements. EBA has made available these online tools to allow all stakeholders to submit their responses, to support its work on optimizing supervisory reporting requirements and reducing reporting costs for institutions. Responses to the qualitative section of the questionnaire are expected by October 01, 2020, while responses to the quantitative questions are expected by October 31, 2020. The findings from this analysis are expected to be formulated in a report and delivered to EC and European Parliament in 2021.

    Following discussions with various EU-level and national industry trade bodies, EBA has split the questionnaire for institutions into two parts (qualitative and quantitative) with different deadlines for responses, to take due account of the priorities and challenges faced by institutions in the current COVID-19 environment. EBA aims to collect quantitative and qualitative information on the historical reporting costs and benefits of reporting as well as the evidence-based views on the possible changes to reporting requirements or processes, with the aim to reduce costs and increase efficiencies. The questionnaire aims to understand the reporting costs, the drivers of these costs, and the reporting challenges. Under the Capital Requirements Regulation or CRR, EBA is mandated to measure the costs institutions incur when complying with the reporting requirements set out in the EBA implementing technical standards on supervisory reporting. EBA is also asked to assess whether these reporting costs are proportionate with regard to the benefits delivered for the purposes of prudential supervision and make recommendations on how to reduce the reporting cost at least for small and non-complex institutions. 

     

    Related Links

    Keywords: Europe, EU, Banking, Proportionality, COVID-19, Reporting, CRR, Basel, Implementing Technical Standards, Compliance Risk, EBA

    Featured Experts
    Related Articles
    News

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News
    News

    FSB and NGFS Publish Initial Findings from Climate Scenario Analyses

    The Financial Stability Board (FSB) and the Network for Greening the Financial System (NGFS) published a joint report that outlines the initial findings from climate scenario analyses undertaken by financial authorities to assess climate-related financial risks.

    November 15, 2022 WebPage Regulatory News
    News

    FSB Issues Reports on NBFI and Liquidity in Government Bonds

    The Financial Stability Board (FSB) published a letter intended for the G20 leaders, highlighting the work that it will undertake under the Indian G20 Presidency in 2023 to strengthen resilience of the financial system.

    November 14, 2022 WebPage Regulatory News
    News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News
    News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News
    News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News
    News

    EU Finalizes Rules Under Crowdfunding Service Providers Regulation

    The European Union has finalized and published, in the Official Journal of the European Union, a set of 13 Delegated and Implementing Regulations applicable to the European crowdfunding service providers.

    November 08, 2022 WebPage Regulatory News
    News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News
    News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News
    News

    BIS Hub and Central Banks Conduct CBDC and DeFI Pilots

    The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.

    November 03, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8596