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    DNB Announces Several Reporting Updates in July 2020

    July 21, 2020

    DNB published a new version of the country risk report guideline for the BIS Consolidated Banking Statistics for 2020. These guidelines apply to version 2.0.0 of the taxonomy for country risk report, which was published on June 30, 2020. Banks must use this new version of the guidelines, along with version 2.0.0 of the XBRL taxonomy, to submit their country risk report effective from the fourth quarter of 2020 reference period. The submission deadline for this reference period is February 25, 2021. In addition, DNB updated the overview of the additional data requests, including semi-recurring as well as ad hoc data requests to banks, from DNB and European agencies. DNB notified that Version 1.2 of reporting templates should be used for ECB COVID-19 reporting with reference date June 30, 2020. However, for re-submissions of reference dates March 31, 2020 and May 30, 2020, Version 1.1 of the reporting template is to be used.

    DNB also released a set of frequently asked questions (FAQs) prepared by ECB on the COVID-19 data request. The FAQ covers both ECB part (for significant institutions only) and the EBA COVID-19 request and is, therefore, also useful for less significant institutions. Moreover, DNB notified that the Audit Single Customer View (IKB) reporting obligation is available in Digital Reporting Portal or DLR. The reporting deadline is August 31, 2020. Based on the Single Customer View Policy Rule under the Deposit Guarantee Scheme (DGS), banks must submit a report that sets out the internal audit department's opinion (Section 11) and an ISAE 3402 type 2 report that contains the external auditor's opinion (Section 12). These reports can be submitted together. Newly joined banks for this period will submit a ISAE 3402 type 1 report. The selected banks with a reporting obligation have already informed.

    Recently, ECB renewed its recommendation calling on significant credit institutions (banks directly supervised by ECB) not to pay a dividend until January 01, 2021. Banks are also called upon to refrain from buying back their own shares until this date and to use variable remuneration in an extremely moderate manner. In its communications, ECB also clarified its expectations with regard to the timelines for recovery of capital and liquidity buffers. DNB supports this ECB recommendation and ECB expectations with regard to buffers and, therefore, considers it applicable to less significant credit institutions that are directly supervised by DNB. The recommendation is in line with previous calls and measures by DNB to limit the consequences of the COVID-19 outbreak for the Dutch economy.

     

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    Keywords: Europe, Netherlands, Banking, Reporting, Digital Reporting Portal, Taxonomy, XBRL, COVID-19, FAQ, Deposit Guarantee Scheme, Dividend Distribution, EBA, ECB, DNB

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