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    • Annex I and Annex II has been replaced by the text set out in Annex I and Annex II to Regulation (EU) 2017/2114, respectively.
    • Annex VII has been replaced by the text set out in Annex III to Regulation (EU) 2017/2114 
    • Annex XI has been replaced by the text set out in Annex IV to Regulation (EU) 2017/2114 
    • Annex XIV has been replaced by the text set out in Annex V to Regulation (EU) 2017/2114 
    • Annex XV has been replaced by the text set out in Annex VI to Regulation (EU) 2017/2114 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

    APRA to Transition to Annual Stress Testing of Large Banks in 2020

    APRA published key findings of the stress testing assessment conducted on authorized deposit-taking institutions.

    February 21, 2020 WebPage Regulatory News
    News

    EC Consults on Review of Non-Financial Reporting Directive

    EC is launched a consultation on the review of the Non-Financial Reporting Directive or NFRD (Directive 2014/95/EU, as part of its strategy to strengthen sustainable investment in Europe.

    February 20, 2020 WebPage Regulatory News
    News

    EIOPA Consults on Standards for Supervisory Reporting Under PEPP Rule

    EIOPA is consulting on the implementing technical standards for supervisory reporting and cooperation, as mandated by the Pan-European Personal Pension Product (PEPP) Regulation (Regulation 2019/1238).

    February 20, 2020 WebPage Regulatory News
    News

    ECB Report on Transfer of Liquidity from EONIA Products to €STR

    ECB published a report on the transfer of liquidity from the cash and derivatives products of the Euro Overnight Index Average (EONIA) to the Euro Short-Term Rate (€STR).

    February 19, 2020 WebPage Regulatory News
    News

    ESRB Publishes Report on Systemic Cyberattacks

    ESRB published a report that explores systemic implications of cyber incidents, such as cyberattacks.

    February 19, 2020 WebPage Regulatory News
    News

    FSB Chair Sets Out Key Deliverables for G20 Presidency of Saudi Arabia

    FSB published a letter from the Chair Randal K. Quarles to the G20 finance ministers and Central Bank governors ahead of the meetings in Riyadh on February 22-23.

    February 19, 2020 WebPage Regulatory News
    News

    CFTC Proposes Rules on Derivative Position Limits and Swap Execution

    CFTC approved a proposed rule on position limits for derivatives and a proposed rule amending requirements for certain Swap Execution Facilities and real-time reporting.

    February 19, 2020 WebPage Regulatory News
    News

    BIS Appoints Heads of Innovation Hubs in Singapore and Switzerland

    BIS announced key personnel appointments to the Innovation Hubs in Singapore and Switzerland.

    February 19, 2020 WebPage Regulatory News
    News

    BOJ Deputy Governor Speaks on Interest Rate Benchmark Reform in Japan

    The Deputy Governor of BOJ Masayoshi Amamiya spoke in Tokyo about how Japan should proceed with interest rate benchmark reform over the next two years until the end of 2021, when the discontinuation of LIBOR is expected.

    February 19, 2020 WebPage Regulatory News
    News

    OSFI Proposes New Benchmark Rate for Qualifying Uninsured Mortgages

    OSFI announced that it is considering a new benchmark rate for determining the minimum qualifying rate for uninsured mortgages.

    February 18, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4708