SNB Updates Reporting Forms while FINMA Lifts Measures on Sberbank
The Swiss National Bank (SNB) published the reporting form (Form ARIS 5.13) and related documentation for counterparty solvency risk in the interbank sector, with the form becoming valid from June 30, 2022. SNB also published reporting forms (LSIB_G and LSIB_P), for both parent and group/single entities, on special liquidity requirements for systemically important banks (LSIB), for which the reporting will be valid from October 31, 2022. In addition, the Swiss Financial Market Supervisory Authority (FINMA) has temporarily lifted protective measures for Sberbank (Switzerland) AG to settle claims of non-sanctioned creditors.
Below are the key highlights of the recent updates:
- The data collection on counterparty solvency risk in the interbank sector is aimed at analyzing interlinkages in the interbank sector, with the aim to identify and monitor systemic risks. The form covers recording of the ten or twenty largest claims and liability positions vis-à-vis other banks or bank groups in Switzerland and abroad. The accompanying documentation explains the changes in Release 5.13 of the form, in comparison to the previous version of the form. This form has a quarterly reporting frequency and must be submitted within six weeks after the reference date. Reporting institutions include all banks and bank groups, except foreign bank branches in Switzerland.
- The reporting forms LSIB_G and LSIB_P cover special liquidity requirements (for parent and group/single entities) of systemically important banks. These forms have a monthly reporting frequency and must be submitted within 15 days after the reference date. The reporting institutions (or systemically important banks) will report data either on a single entity basis or on a consolidated basis (or financial group). The forms incorporate revision of the Liquidity Ordinance and the introduction of special liquidity requirements for systemically important banks.
- Another update involves FINMA temporarily lifting some of the protective measures and enabling Sberbank (Switzerland) AG to settle due claims of its non-sanctioned creditors and make corresponding payments from July 01, 2022 to July 05, 2022. The bank has successfully stabilized its financial situation under FINMA supervision and the international sanctions in force permit such payments. The payments will enable the bank to reduce its balance sheet, with a view to a possible sale or change of ownership.
Related Links
- Form on Counterparty Solvency Risk
- ARIS Release 5.13 (XLSX)
- Changes in Form (PDF)
- Reporting Form on LSIB
- LSIB_G Release 1.0
- LSIB_P Release 1.0
- Press Release on Sberbank (Switzerland) AG
Keywords: Europe, Switzerland, Banking, Solvency Risk, Systemic Risk, Counterparty Credit Risk, Basel, Credit Risk, Large Exposures, Liquidity Risk, LSIB, SIB, Reporting, Liquidity Ordinance, Liquidity Requirements, Sberbank, FINMA, SNB
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.
Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
MAS Updates Guidelines for Islamic BankingRelated 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.