Featured Product

    ACPR Publishes Final Version of RUBA Taxonomy, Issues Other Updates

    July 08, 2022

    The French Prudential Control and Resolution Authority (ACPR) finalized Version 1.1.0 of the RUBA taxonomy, issued a statement of compliance with the resolvability guidelines of the European Banking Authority (EBA), and published a statement on the European Union Digital Finance Platform.

    Below are the key highlights of these recent updates:

    • The finalized Version 1.1.0 of RUBA taxonomy will replace the RUBA taxonomy version 1.0.1 from December 31, 2022. Along with the taxonomy, ACPR has published description and delivery notes, presentation, data point model (DPM) dictionary, annotated reports, taxonomy controls, and test instance file related to the taxonomy. RUBA taxonomy applies to the banking sector and has an architecture and structure similar to that of the Capital Requirements Regulation (CRR)/the Capital Requirements Directive (CRD) IV taxonomies from the European Banking Authority (EBA) and that of the Solvency II taxonomy from the European Insurance and Occupational Pensions Authority (EIOPA).
    • ACPR notified that it is in compliance with the EBA guidelines on improving resolvability for institutions and resolution authorities under Bank Recovery and Resolution Directive (BRRD). These guidelines detail, in particular, the European standards for the resolvability of credit institutions. The guidelines are intended to clarify to institutions the main expectations of the authorities in terms of resolvability and to enable the authorities to assess the level of resolvability achieved, in accordance with Articles 15 and 16 of the BRRD.
    • The European Union Digital Finance Platform is a new online space designed to strengthen dialog between innovative companies in the fintech ecosystem and the supervisory authorities, including the ACPR. The platform is part of the European Union's digital finance strategy, which was announced in September 2020. The platform aims to consolidate and strengthen access to digital financial services through the Single Market. The platform provides a Digital Finance Observatory that offers interactive functions such as a fintech map, an events calendar, and a section where participants can share relevant documentary resources. The platform also offers a European Forum of Innovation Facilitators (EFIF) gateway, which allows an exchange with the supervisory authorities, access to the contacts of the innovation hubs of the national authorities (including the fintech innovation hub of ACPR), regulatory sandboxes, and authorization procedures. This gateway also hosts functionalities promoting cross-border testing, allowing fintech players to associate or simultaneously solicit several national supervisory authorities to evaluate their new products or services. In a second phase, which is scheduled for 2023, new features will be added to the platform based on user feedback.

     

    Related Links (in English and French)


    Keywords: Europe, France, Banking, Reporting, RUBA, Taxonomy, CRR, CRD IV, Basel, DPM, BRRD, Digital Finance Platform, Digital Finance, Fintech, Regtech, ACPR

    Featured Experts
    Related Articles
    News

    FINMA Approves Merger of Credit Suisse and UBS

    The Swiss Financial Market Supervisory Authority (FINMA) has approved the takeover of Credit Suisse by UBS.

    March 21, 2023 WebPage Regulatory News
    News

    BOE Sets Out Its Thinking on Regulatory Capital and Climate Risks

    The Bank of England (BOE) published a working paper that aims to understand the climate-related disclosures of UK financial institutions.

    March 13, 2023 WebPage Regulatory News
    News

    OSFI Finalizes on Climate Risk Guideline, Issues Other Updates

    The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.

    March 12, 2023 WebPage Regulatory News
    News

    APRA Assesses Macro-Prudential Policy Settings, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) published an information paper that assesses its macro-prudential policy settings aimed at promoting stability at a systemic level.

    March 07, 2023 WebPage Regulatory News
    News

    BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending

    BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.

    March 03, 2023 WebPage Regulatory News
    News

    HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks

    The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.

    March 02, 2023 WebPage Regulatory News
    News

    MFSA Sets Out Supervisory Priorities, Issues Reporting Updates

    The Malta Financial Services Authority (MFSA) outlined its supervisory priorities for 2023

    March 02, 2023 WebPage Regulatory News
    News

    German Regulators Issue Multiple Reporting Updates for Banks

    Deutsche Bundesbank published the nationally deactivated validation rules for the German Commercial Code (HGB) users on the taxonomy 3.2, which became valid from December 31, 2022

    March 02, 2023 WebPage Regulatory News
    News

    BCBS Report Examines Impact of Basel III Framework for Banks

    The Basel Committee on Banking Supervision (BCBS) published results of the Basel III monitoring exercise based on the June 30, 2022 data.

    February 28, 2023 WebPage Regulatory News
    News

    PRA Consults on Prudential Rules for "Simpler-Regime" Firms

    Among the recent regulatory updates from UK authorities, a key development is the first-phase consultation, from the Prudential Regulation Authority (PRA), on simplifications to the prudential framework that would apply to the simpler-regime firms.

    February 28, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8806