Featured Product

    UK Agencies Update on Statistics Taxonomy and Data Collection Project

    January 26, 2022

    The Financial Conduct Authority (FCA) issued an update on the data transformation program, which has been developed jointly with the Bank of England (BoE). The program aims to integrate and modernize reporting as well as define and adopt common data standards while addressing data collection related challenges identified via the FCA work with firms on digital regulatory reporting and the BoE data collection review. FCA is now announcing its intention to broaden the engagement on this program with solo regulated firms in 2022, along with its plans to issue an update on this work in the coming months. Additionally, BoE published Version 1.2.2 of the BoE Statistics taxonomy, along with certain accompanying documents; this version of the taxonomy is a corrective release that addresses feedback received since the publication of Version 1.2.0 of the taxonomy.

    With respect the new version of the BoE Statistics Taxonomy, all entry points remain the same while a change log has been published to outline changes between Version 1.2.0 and Version 1.2.2. The majority of the items addressed were already detailed in the known issues spreadsheet, which has been updated too. The changes primarily relate to validation rules. BoE also announced that the next User Acceptance Testing (UAT) window will open in the week commencing February 28, 2022. Firms that opted to report in the first phase of onboarding will be contacted by the BEEDS team shortly. The box code mapping documents are in the final phase of testing against the corrective release and these will be published in February. In addition, in its Statistical Notice 2022/03, BoE announced the publication of frequently asked questions (FAQ) and a Vimeo link for uploading sterling money market annual data collection (Form SMMA) into the BEEDS portal. Form SMMA is used to collect annual data on a reporting institution’s secured and unsecured sterling money market activity. To successfully submit the return, firms need to ensure that all mandatory templates in the return have been validated. The submission deadline for SMMA return was January 31, 2022.


    Related Links


    Keywords: Europe, UK, Banking, Securities, Data Collection, Reporting, Statistical Reporting, Statistical Notice, Taxonomy, Validation Rules, BEEDS, Regtech, Digital Regulatory Reporting, Data Transformation, FCA, BoE

    Featured Experts
    Related Articles

    EBA Sets Out Roadmap for 2023, Updates Reporting Framework 3.2

    The European Banking Authority (EBA) published its work program for 2023 as well as the technical package for phase 3 of version 3.2 of its reporting framework.

    September 30, 2022 WebPage Regulatory News

    FED Announces Launch of Climate Scenario Analysis Exercise in 2023

    The Board of Governors of the Federal Reserve System (FED) announced a pilot climate scenario analysis exercise for six largest banks in the U.S.

    September 29, 2022 WebPage Regulatory News

    BIS Paper Studies Impact of Fintech Lending on Small Businesses in US

    The Bank for International Settlements (BIS) published a paper that studies impact of fintech lending on credit access for small businesses in U.S.

    September 26, 2022 WebPage Regulatory News

    UK Regulators Issue CRR Changes and Stress Test Scenarios for Banks

    The Prudential Regulation Authority (PRA) issued the policy statement PS8/22 to amend the Own Funds and Eligible Liabilities (CRR) Part of the PRA Rulebook and update the supervisory statement SS7/13 titled "Definition of capital (CRR firms).

    September 26, 2022 WebPage Regulatory News

    EBA Launches EU-Wide Transparency Exercise in 2022

    The European Banking Authority (EBA) launched the EU-wide transparency exercise for 2022, with results of the exercise expected to be published at the beginning of December, along with the annual Risk Assessment Report.

    September 23, 2022 WebPage Regulatory News

    SRB on CRR Quick-Fix to Policy for Multiple Point of Entry Banks

    The Single Resolution Board (SRB) welcomed the adoption of the review of the Capital Requirements Regulation, or CRR, also known as the "CRR quick-fix."

    September 22, 2022 WebPage Regulatory News

    EC Rule Lists Advanced Economies for Market Risk Capital Calculations

    The European Commission (EC) recently adopted the Delegated Regulation 2022/1622, which sets out the regulatory technical standards to specify the countries that constitute advanced economies for the purpose of specifying risk-weights for the sensitivities to equity.

    September 21, 2022 WebPage Regulatory News

    EBA Publishes Final Regulatory Standards on STS Securitizations

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.

    September 20, 2022 WebPage Regulatory News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8523