Featured Product

    FED Updates Draft Form and Guidance for Reporting Under Volcker Rule

    January 02, 2020

    FED updated the draft reporting form (FR VV-1) and instructions in connection with the Volcker rule amendments that were finalized in November 2019. FED has also published the related technical guidance, by the relevant US Agencies, for preparing and submitting the quantitative measurements. Each banking entity that meets the relevant thresholds must furnish quantitative measurements, as applicable, for each of its trading desks engaged in covered trading activity. The instructions for preparing and submitting quantitative measurement information provide guidance for the submission of the Narrative Statement, the trading desk information schedule, the quantitative measurements information schedules, and each applicable quantitative measurement to the agency.

    If a banking entity and one or more of its affiliates are required to report quantitative measurements to the agency, the banking entity and its affiliate(s) should prepare one combined submission to the agency that follows the instructions, the technical specifications guidance, and the XML schema. Banking entities with significant trading assets and liabilities are required to report metrics for each trading day of the month on a quarterly basis to the agency. If a banking entity reports metrics and subsequently determines that it no longer has significant total trading assets and liabilities, the banking entity should report metrics for the trading days in the past calendar quarter but is not required to report metrics going forward until the banking entity again has significant trading assets and liabilities. 

    Banking entities subject to the reporting requirement should collect metrics for each calendar month and report these metrics within 30 days of the end of each calendar quarter, unless the agency notifies the banking entity in writing that it must report on a different basis. The banking entity may submit in a separate electronic document a Narrative Statement to the agency with any information the banking entity views as relevant for assessing the information reported. The Narrative Statement may include further description of or changes to calculation methods, identification of material events, description of and reasons for changes in the banking entity’s trading desk structure or trading desk strategies, and when any such changes occurred. 

     

    Related Links

    Keywords: Americas, US, Banking, Securities, Volcker Rule, Dodd Frank Act, Reporting, FR VV-1, Regulation VV, Market Risk, FED

    Featured Experts
    Related Articles
    News

    OSFI Discusses Benchmark Rate Transition, Sets Out Work Priorities

    The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.

    May 17, 2022 WebPage Regulatory News
    News

    EBA Proposes Standards to Support Secondary NPL Markets

    The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.

    May 17, 2022 WebPage Regulatory News
    News

    EU Confirms Agreement on Rules on Cybersecurity and Banking Resolution

    The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).

    May 13, 2022 WebPage Regulatory News
    News

    EBA Issues Standards for Crowdfunding Service Providers Under ECSPR

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.

    May 13, 2022 WebPage Regulatory News
    News

    EU Confirms Agreement on Rules on Cybersecurity and Banking Resolution

    The European Securities and Markets Authority (ESMA) published a paper that examines the systemic risk posed by increasing use of cloud services, along with the potential policy options to mitigate this risk.

    May 12, 2022 WebPage Regulatory News
    News

    EC Consults on PSD2 and Open Finance; EU Reaches Agreement on DORA

    The European Commission (EC) published a public consultation on the review of revised payment services directive (PSD2) and open finance.

    May 11, 2022 WebPage Regulatory News
    News

    EC Mandates ESAs to Propose Amendments to SFDR Technical Standards

    The European Commission (EC) has issued two letters mandating the European Supervisory Authorities (ESAs) to jointly propose amendments to the regulatory technical standards under Sustainable Finance Disclosure Regulation or SFDR.

    May 11, 2022 WebPage Regulatory News
    News

    EBA Examines Supervisory Practices, Issues Deposits Reporting Template

    The European Banking Authority (EBA) published its annual report on convergence of supervisory practices for 2021. Additionally, following a request from the European Commission (EC),

    May 11, 2022 WebPage Regulatory News
    News

    SNB Updates NSFR Forms and FINMA Consults on Operational Risk Circular

    The Swiss National Bank (SNB) published Version 1.2 of the reporting forms (NSFR_G and NSFR_P) on the net stable funding ratio (NSFR) of banks, along with the associated documentation.

    May 10, 2022 WebPage Regulatory News
    News

    US Agency Publications Address Basel, Reporting, and CECL Developments

    The Farm Credit Administration published, in the Federal Register, the final rule on implementation of the Current Expected Credit Losses (CECL) methodology for allowances

    May 09, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8191