NBB Specifies Additional Master Data Attributes Required for Reporting
NBB is announcing the requirement for collection of additional reference data to determine the European prudential reporting obligations. Toward these reporting obligations, additional Master Data attributes (or Metadata) are required to be reported by the specified institutions. The new Master Data Attributes have been set out in the Annex to this NBB Communication and institutions are requested to report these new attributes to NBB by March 31, 2020 via the OneGate application (Domain MBS) of NBB.
This Communication applies to the following institutions:
- Credit institutions governed by Belgian law
- Financial services groups headed by a Belgian regulated institution (hereinafter "financial holding companies governed by Belgian law")
- Financial services groups headed by an institution governed by foreign law (hereinafter "financial holding companies governed by foreign law")
- Financial services groups headed by a Belgian mixed financial holding company (hereinafter “mixed holding companies")
- Branches established in Belgium of credit institutions governed by the law of another European Economic Area Member State Branches, established in Belgium, of credit institutions governed by the law of a third country
As part of their prudential supervisory tasks, the supervisory authorities (NBB, ECB, and EBA) periodically collect prudential data from these above-mentioned institutions subject to their supervision. To allow the supervisory authorities to determine the European prudential reporting obligations for the institutions under their supervision, metadata (the so-called Master Data attributes) are used. At the request of ECB, NBB needs to manage some new additional Master Data attributes. The main purpose of the requested additional Metadata is to better map and understand the group structures of the institutions, both inside and outside the Single Supervisory Mechanism (SSM) and the European Economic Area.
After this one-time periodic reporting, the institutions are requested to communicate any changes in these data to NBB as soon as possible. The institutions subject to the supervision of NBB, which are also at the highest level of consolidation within the member states participating in the SSM, are requested to also report these additional attributes to NBB for those entities within their group that are located in a member state not participating in the SSM, or in a third country. ECB manages the Master Data attributes of each institution in the Register of Institutions and Affiliates Database (RIAD). The ECB Guideline for the attention of the national authorities has a dual purpose. It lays down certain arrangements between different authorities and ECB regarding the management of the information in RIAD.
Related Links
Keywords: Europe, Belgium, Banking, Prudential Data, SSM, Reporting, OneGate, RIAD, EBA, NBB
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Scott Dietz
Scott is a Director in the Regulatory and Accounting Solutions team responsible for providing accounting expertise across solutions, products, and services offered by Moody’s Analytics in the US. He has over 15 years of experience leading auditing, consulting and accounting policy initiatives for financial institutions.
Previous Article
ECB Announces Cyber Information and Intelligence Sharing InitiativeRelated Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.