DNB published version 2.0.0 of taxonomy for “BIS Consolidated Banking Statistics (BISCBS)," also known as the DNB 8023 country risk report. This new version of the taxonomy aligns with the update of the DNB reporting guidelines for country risk reporting. This taxonomy contains one entry point available for filing. The reporting period and deadlines are not affected by the introduction of this new reporting format. Banks must use version 2.0.0 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. DNB will publish a new user manual for this by mid-July 2020. DNB also notified that the "interest benchmark transition reporting obligation" is available, for selected banks, in the Digital Reporting Portal or DLR, as of July 01, 2020. The deadline for submission is August 18, 2020.
The main change in the taxonomy version 2.0.0 for country risk report concerns the introduction of additional columns to allow further break-down of claims on an immediate basis. The taxonomy includes the following documents:
- Release notes for version 2.0.0
- Excel workbook with the taxonomy content, data points, hierarchies, (current) assertions, and annotated templates of the forms
- Excel workbook with the data dictionary
- XBRL reporting framework, version 2.0.0 (as a taxonomy package)
- Reporting framework, specific dictionary (as a taxonomy package)
- Zip file with a sample XBRL instance for each entrypoint
In June 2020, the Netherlands Authority for the Financial Markets (AFM) and DNB launched a request from institutions to gather information on the status of the transition to alternative interest rate benchmarks. From July 01, a selection of insurers, pension funds, investment institutions, and banks (that are not under the direct supervision of ECB) will participate in the semi-annual call for "tenders." The last intended "tender" will be in January 2022. The information requested consists of data on relevant financial instruments and products. In addition, various questions have been included about the progress and obstacles in the transition. The data request should be completed on a best effort basis, for positions on June 30, 2020.
Related Links (in Dutch and English)
- Notification on Country Risk Report
- Notification on Benchmark Transition Reporting
- Taxonomy for Country Risk Report (ZIP)
- Request for Monitoring Transition
Keywords: Europe, Netherlands, Banking, Digital Reporting Portal, Taxonomy, XBRL, Interest Rate Benchmark, Risk-Free Rates, IBOR, Transition, DNB
Previous ArticleDFSA Withdraws License of Gefion Insurance
EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.
BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.
HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.
EBA published an erratum for technical package on phase 1 of the reporting framework 3.0.
APRA updated a frequently asked question (FAQ), for authorized deposit-taking institutions, on the measurement of credit risk weighted assets.
EBA published the quarterly risk dashboard, along with the results of the Risk Assessment Questionnaire survey among 60 banks and 15 market analysts.
ECB concluded the public consultation on the introduction of a digital euro in EU.
ECB published a guide that sets out the supervisory approach to consolidation in the banking sector.
The SRB Chair Elke König published an article setting out work priorities for 2021.
FDIC has selected 11 technology companies—including BearingPoint, Fed Reporter, Inc, and S&P Global Market Intelligence, LLC—for inclusion in the third and final phase of the rapid prototyping competition.