GLEIF published the semantically correct model in the form of a taxonomy relevant to integrating the Legal Entity Identifier (LEI) into eXtensible Business Reporting Language (XBRL). XBRL, which is the open international standard for digital business reporting, is managed by XBRL International, a global not-for-profit consortium. GLEIF has initiated work, together with other organizations that are using the LEI as an element in their standards and standard frameworks, to develop semantically correct models of LEI data records relevant to the integration of LEI into other key standards.
The purpose of the project is to represent the LEI in a standard way in key standards and to make available the same documentation, in terms of context, text, and element descriptions, regardless of the differing graphical representations or syntax of the LEI in other standards. The initiative also facilitates providing the LEI in machine-readable form to enable its inclusion in the technical representations of other standards. This will result in correct and consistent usage of the semantic representation of the LEI and its reference data by each organization. Consequently, stakeholders will have one semantically correct model in each standard for the LEI and its reference data. GLEIF establishes and participates in the relevant formal groups for development work on the semantic representations of the LEI and its reference data with the standards organizations.
Keywords: International, Banking, Insurance, Securities, XBRL, Taxonomy, LEI, Semantically Correct Model, XBRL International, GLEIF
PRA, via the consultation paper CP12/20, proposed changes to its rules, supervisory statements, and statements of policy to implement certain elements of the Capital Requirements Directive (CRD5).
EIOPA published the financial stability report that provides detailed quantitative and qualitative assessment of the key risks identified for the insurance and occupational pensions sectors in the European Economic Area.
EBA published its risk dashboard for the first quarter of 2020 together with the results of the risk assessment questionnaire.
EBA announced that the next stress testing exercise is expected to be launched at the end of January 2021 and its results are to be published at the end of July 2021.
PRA published the consultation paper CP11/20 that sets out its expectations and guidance related to auditors’ work on the matching adjustment under Solvency II.
MAS published a statement guidance on dividend distribution by banks.
APRA updated its capital management guidance for banks, particularly easing restrictions around paying dividends as institutions continue to manage the disruption caused by COVID-19 pandemic.
FSB published a report that reviews the progress on data collection for macro-prudential analysis and the availability and use of macro-prudential tools in Germany.
EBA issued a statement reminding financial institutions that the transition period between EU and UK will expire on December 31, 2020; this will end the possibility for the UK-based financial institutions to offer financial services to EU customers on a cross-border basis via passporting.
SRB published guidance on operational continuity in resolution and financial market infrastructure (FMI) contingency plans.