NBB announced that, from the reference period June 30, 2020 onward, a number of additional quality checks are being added to the validation process of the supervisory reporting in OneGate. The Banking Supervision Data Division of ECB, in cooperation with the national competent authorities within the Single Supervisory Mechanism, updated the list of extra data quality checks, in May 2020, in addition to the data quality checks already included in the supervisory reporting frameworks of EBA (COREP and FINREP). These extra checks are aimed at enhancing the quality of supervisory reporting data. ECB applies these checks in conjunction with other controls as part of the quality assessment of supervisory reporting data while national competent authorities implement them whenever possible and feasible.
Keywords: Europe, Belgium, Banking, Reporting, OneGate, Data Quality Checks, FINREP, COREP, Validation Rules, ECB, NBB
The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.
The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.
The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.
The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.
The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.
The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.
The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.
The General Board of the European Systemic Risk Board (ESRB), at its December meeting, issued an updated risk assessment via the quarterly risk dashboard and held discussions on key policy priorities to address the systemic risks in the European Union.
The Financial Conduct Authority (FCA) is seeking comments, until December 21, 2022, on the draft guidance for firms to support existing mortgage borrowers.
The Financial Stability Board (FSB) published a report that assesses progress on the transition from the Interbank Offered Rates, or IBORs, to overnight risk-free rates as well as a report that assesses global trends in the non-bank financial intermediation (NBFI) sector.