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.
Keywords: Europe, Belgium, Banking, Prudential Data, SSM, Reporting, OneGate, RIAD, EBA, NBB
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.
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