Featured Product

    EBA to Require Additional Reporting and Disclosures for COVID Measures

    June 02, 2020

    EBA published the guidelines and templates for reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis. EBA is introducing, on a temporary basis, additional reporting for the payment moratoria applied to ease COVID impact, forbearance measures applied in response to COVID-19 to the existing loans, and public guarantees to new lending in response to the COVID-19 pandemic. The first reporting reference date and the disclosure reference date will be June 30, 2020. The reporting guidelines will be part of the version 2.10 reporting framework release that will be published in June 2020.

    The guidelines have been developed to address data gaps associated with the relief measures to ensure an appropriate understanding of institutions’ risk profile and the asset quality on their balance sheets both for supervisors and the wider public. The guidelines cover information that is crucial for understanding the prudential soundness of individual institutions, without impacting their treatment of creditors under moratoria or public guarantees. The information requested here reflects the type of information that senior management in institutions is asking for, and is key to understanding the overall financial stability in EU. The guidelines are built on the existing definitions of the Commission Implementing Regulation No 680/2014 (FINREP). The guidelines cover the following:

    • Reporting requirements to monitor the use of payment moratoria and the evolution of the credit quality of the exposures subject to such moratoria in accordance with the guidelines on moratoria
    • Disclosure requirements for the exposures subject to the payment moratoria in accordance with the guidelines on moratoria
    • Reporting requirements for the new loans subject to specific public guarantees set up to mitigate the effects of the COVID-19 crisis
    • Disclosure requirements for the new loans subject to the specific public guarantees set up to mitigate the effects of COVID-19 crisis
    • Reporting requirements on other forbearance measures applied in response to the COVID-19 crisis 

    To facilitate reporting on the basis of these guidelines, EBA will provide technical package, covering validation rules, the data point model (DPM), and the XBRL taxonomy and will fully integrate the new reporting into the EBA reporting framework. Similar to the implementing technical standards on reporting, the XBRL taxonomy will not be mandatory for reporting institutions and will not be part of the guidelines. To facilitate that additional reporting, and reduce the costs for institutions and competent authorities, EBA will also link the technical release of the new reporting requirements with the existing planned release (as a separate module in 2.10 phase 2). EBA will publish the version 2.10 Phase 2 release in June 2020. The additional reporting and disclosure requirements are expected to be time-limited as they are introduced strictly in the context of the COVID-19 pandemic. These reporting and disclosure templates from EBA consider the need for proportionality in terms of the size and complexity of the institutions, the specificities of the measures introduced in member states, and operational efficiency of institutions in current circumstances. Reporting should be performed on a quarterly basis, with the first reference date of June 30, 2020 and for an expected period of 18 months. Disclosure should be performed semi-annually on June 30 and December 31.

     

    Related Links

    Keywords: Europe, EU, Banking, Basel, Reporting, Disclosures, COVID-19, FINREP, Reporting Framework 2.10, Credit Risk, Loan Moratorium, Guarantee Scheme, EBA

    Featured Experts
    Related Articles
    News

    EBA Launches Stress Tests for Banks, Issues Other Updates

    The European Banking Authority (EBA) launched the 2023 European Union (EU)-wide stress test, published annual reports on minimum requirement for own funds and eligible liabilities (MREL) and high earners with data as of December 2021.

    January 31, 2023 WebPage Regulatory News
    News

    EBA Proposes Standards for IRRBB Reporting Under Basel Framework

    The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.

    January 31, 2023 WebPage Regulatory News
    News

    FED Issues Further Details on Pilot Climate Scenario Analysis Exercise

    The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.

    January 17, 2023 WebPage Regulatory News
    News

    US Agencies Issue Several Regulatory and Reporting Updates

    The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.

    January 04, 2023 WebPage Regulatory News
    News

    ECB Issues Multiple Reports and Regulatory Updates for Banks

    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.

    January 01, 2023 WebPage Regulatory News
    News

    HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements

    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.

    December 30, 2022 WebPage Regulatory News
    News

    EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR

    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.

    December 29, 2022 WebPage Regulatory News
    News

    CBIRC Revises Measures on Corporate Governance Supervision

    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.

    December 29, 2022 WebPage Regulatory News
    News

    HKMA Publications Address Sustainability Issues in Financial Sector

    The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.

    December 23, 2022 WebPage Regulatory News
    News

    EBA Updates Address Basel and NPL Requirements for Banks

    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.

    December 22, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8700