Bank of Italy published a communication on the reporting treatment, in the Central Credit Register and AnaCredit, of the “sales of tax credits” recognized by certain provisions related to COVID-19 pandemic. On January 05, 2021, Bank of Italy, CONSOB, and IVASS published a document addressing the "accounting treatment of tax credits connected with the Cura Italia and Relaunch Law Decrees purchased following sale by direct beneficiaries or previous buyers." Transactions with the characteristics indicated in the aforementioned document must not be reported in the Central Credit Register of Bank of Italy. Furthermore, the sales of tax credits in question are not subject to reporting in AnaCredit, as the aforementioned transactions do not have the characteristics indicated by AnaCredit Regulation. However, it should be noted that loans and/or advances granted by intermediaries in support of transactions benefiting from tax measures are reported in the Central Credit Register and AnaCredit according to the general principles applicable to the two surveys.
Related Links (in Italy)
Keywords: Europe, Italy, Banking, AnaCredit, COVID-19, Tax Credit, Central Credit Register, Reporting, Bank of Italy
Leading economist; commercial real estate; performance forecasting, econometric infrastructure; data modeling; credit risk modeling; portfolio assessment; custom commercial real estate analysis; thought leader.
The Australian Prudential Regulation Authority (APRA) has published the findings of its latest climate risk self-assessment survey conducted across the banking, insurance, and superannuation industries.
The French Prudential Supervisory Authority (ACPR) published a notice related to the methods for calculating and publishing prudential ratios under the Capital Requirements Directive (CRD IV) and the minimum requirement for own funds and eligible liabilities (MREL).
The Financial Stability Institute (FSI) of the Bank for International Settlements recently published a paper proposing a framework for classifying financial stability regulation as either entity-based or activity-based.
The European Insurance and Occupational Pension Authority (EIOPA) published the risk dashboard based on Solvency II data and the final version of the application guidance on climate change materiality assessments and climate change scenarios in the Own Risk and Solvency Assessment (ORSA).
The European Banking Authority (EBA) and the European Central Bank (ECB) published their responses to the consultations of the International Sustainability Standards Board (ISSB) and the European Financial Reporting Advisory Group (EFRAG) on sustainability-related disclosure standards.
A Consultative Group on Risk Management (CGRM) at the Bank for International Settlements (BIS) published a report that examines incorporation of climate risks into the international reserve management framework.
The European Banking Authority (EBA) published the final guidelines on liquidity requirements exemption for investment firms, updated version of its 5.2 filing rules document for supervisory reporting, and Single Rulebook Question and Answer (Q&A) updates in July 2022.
The European Insurance and Occupational Pensions Authority (EIOPA) published Version 2.8.0 of the Solvency II data point model (DPM) and XBRL taxonomy.
The European Union published, in the Official Journal of the European Union, an opinion from the European Economic and Social Committee (EESC); the opinion is on the proposal for a regulation to amend the Capital Requirements Regulation (CRR).
HM Treasury published a draft statutory instrument titled “The Financial Services (Miscellaneous Amendments) (EU Exit) Regulations 2022,” along with the related explanatory memorandum and impact assessment.