Featured Product

    EC Amends Rules on Reporting Templates and Instructions Under CRR

    December 06, 2017

    EC published the Commission Implementing Regulation on reporting templates and instructions. CIR (EU) 2017/2114 amends CIR (EU) No 680/2014, which lays down implementing technical standards on supervisory reporting of institutions, according to the Capital Requirements Regulation (CRR: Regulation (EU) No 575/2013). CIR (EU) 2017/2114 shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. It shall apply from March 01, 2018.

    CIR (EU) No 680/2014 specifies the modalities according to which institutions are required to report information relevant to their compliance with CRR. The regulatory framework established by CRR is gradually being supplemented and amended in its non-essential elements by the adoption of further secondary legislation and, in this case, by Commission Delegated Regulation (EU) 2015/61. Therefore, CIR (EU) No 680/2014 should also be updated to reflect these rules and to provide further precision in the instructions and definitions used for the supervisory reporting of institutions. CIR (EU) No 680/2014 requires amendments to correct erroneous references and formatting inconsistencies that were discovered in the course of the application of that regulation. Amendments are also required to reflect the ability of competent authorities to effectively monitor and assess the institutions' risk profile and to obtain a view on the risks posed to the financial sector. This requires changes to the reporting requirements in the areas of operational risk, credit risk, and with regard to institutions' exposures toward sovereigns. Accordingly, CIR (EU) No 680/2014 is being amended and the key amendments are as follows:

    • In Article 5(b) point (2) has been replaced and point (3) has been added.
    • In Article 16b(1), point (c) has been added and, in Article 16b(2), point (a) has been replaced.
    • Annex I and Annex II has been replaced by the text set out in Annex I and Annex II to Regulation (EU) 2017/2114, respectively.
    • Annex VII has been replaced by the text set out in Annex III to Regulation (EU) 2017/2114 
    • Annex XI has been replaced by the text set out in Annex IV to Regulation (EU) 2017/2114 
    • Annex XIV has been replaced by the text set out in Annex V to Regulation (EU) 2017/2114 
    • Annex XV has been replaced by the text set out in Annex VI to Regulation (EU) 2017/2114 
    • Annex XVIII has been replaced by the text set out in Annex VII to Regulation (EU) 2017/2114 
    • Annex XIX has been replaced by the text set out in Annex VIII to Regulation (EU) 2017/2114 
    • Annex XX has been replaced by the text set out in Annex IX to Regulation (EU) 2017/2114 
    • Annex XXI has been replaced by the text set out in Annex X to Regulation (EU) 2017/2114 
    • A new Annex XXII has been added, the text of which is set out in Annex XI to Regulation (EU) 2017/2114 
    • A new Annex XXIII has been added, the text of which is set out in Annex XII to Regulation (EU) 2017/2114 

     

    Related Links

    Effective Date: December 26, 2017

    Keywords: Europe, EU, Banking, CRR, CIR 2017/2114, CIR 680/2014, EC

    Related Articles
    News

    EIOPA Forms Consultative Expert Group on Digital Ethics in Insurance

    EIOPA established the Consultative Expert Group on Digital Ethics in Insurance to assist EIOPA in the development of digital responsibility principles in insurance.

    September 17, 2019 WebPage Regulatory News
    News

    FASB Proposes Taxonomy Changes Related to Topics 848 and 470

    FASB proposed taxonomy improvements for the proposed Accounting Standards Update on topic 848 on facilitation of effects of reference rate reform on financial reporting.

    September 16, 2019 WebPage Regulatory News
    News

    BoE Statement on Recalculating Transitional Measures Under Solvency II

    BoE notified that it will be willing to accept applications from firms to recalculate transitional measure on technical provisions (TMTP) as at September 30, 2019.

    September 16, 2019 WebPage Regulatory News
    News

    BIS Hosts Conference to Discuss Issues from Emergence of Stablecoins

    BIS hosted a conference in Basel to discuss policy and regulatory issues posed by the emergence of stablecoin initiatives backed by financial institutions and large technology companies.

    September 16, 2019 WebPage Regulatory News
    News

    BIS Paper on Embedded Supervision of Blockchain-Based Financial Market

    BIS published a working paper that investigates ways to regulate and supervise blockchain-based financial markets.

    September 16, 2019 WebPage Regulatory News
    News

    BoE Paper on Market-Implied Systemic Risk and Shadow Capital Adequacy

    BoE published a working paper that presents a forward-looking approach to measure systemic solvency risk.

    September 13, 2019 WebPage Regulatory News
    News

    HKMA Consults on Policy Module on Pillar 2 Supervisory Review Process

    HKMA is consulting on the revised Supervisory Policy Manual module CA-G-5 that sets out the HKMA approach to conducting the supervisory review process under Pillar 2.

    September 13, 2019 WebPage Regulatory News
    News

    PRA Publishes Waiver by Consent of Continuity of Access Rules

    PRA published a new waiver by consent to waive the Continuity of Access requirements contained in the Depositor Protection Part of the PRA Rulebook (DPP).

    September 13, 2019 WebPage Regulatory News
    News

    EBA Single Rulebook Q&A: Second Update for September 2019

    EBA updated the Single Rulebook question and answer (Q&A) tool with answers to three questions.

    September 13, 2019 WebPage Regulatory News
    News

    BoE Publishes Update on Meeting of Working Group on Risk-Free Rates

    BoE published the minutes of the July meeting of working group on sterling risk-free reference rates.

    September 13, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3827