Featured Product

    DNB Publishes Multiple Regulatory and Reporting Updates in June 2022

    June 30, 2022

    DNB, the central bank of Netherlands, published several reporting updates and the results of a study on macro-prudential perspective on cyber risk.

    As part of the recent announcements, DNB

    • updated the list of the additional data requests, including semi-recurring as well as one-off data requests to banks from DNB and European agencies.
    • announced that the Structural Foreign Exchange positions reporting obligation will be available as of July 01, 2022 in the Digital Reporting Portal (or DLR). DNB has published the related reporting template. The Structural Foreign Exchange provision, as laid down in Article 352(2) of the Capital Requirements Regulation (CRR), allows competent authorities to authorize the exclusion of Foreign Exchange risk positions deliberately taken by institutions to hedge against the adverse effect of exchange rates on capital ratios from the calculation of the net open currency positions, where those positions are of a structural nature. Institutions for which the exclusion of these Structural Foreign Exchange positions has been granted are required to report on a quarterly basis the monitoring figures as specified in guidelines on the treatment of Structural Foreign Exchange positions (EBA/GL/2020/09).
    • published a revised version of the additional data quality checks for the second quarter of 2022. In this revised version, 11 validation rules have been removed and 35 validation rules have been modified. The changes are not substantive and only concern the addition of the leading zeros in the rows and columns.
    • announced that the submission deadline for the audit certification 2021 is June 30, 2022. The scope remains unchanged compared to last year. This means that the following reports needs to be certified: COREP OF, COREP LE, FINREP (only the highest level), and interest rate risk. The reporting obligation for the audit certification 2021 can be found under reference period December 31, 2021 in DLR
    • published the results of its study on macro-prudential perspective on cyber risk. In the study, DNB investigates under which circumstances a cyber incident at a financial institution could develop into a threat for the financial system. The study focuses on a number of scenarios and channels of contagion. In one scenario, a cyberattack causes one or more participants in the interbank payment system to fail, while in the other the loss of confidence leads to a bank run. The preliminary conclusion is that a cyber incident can affect financial stability mainly when operational problems spread through multiple channels of contagion and if this results in a major confidence shock.

     

    Related Links


    Keywords: Europe, Netherland, Banking, Reporting, Structural Foreign Exchange, CRR, Basel, COREP, FINREP, Cyber Risk, Financial Stability, DNB

    Featured Experts
    Related Articles
    News

    ECB Finds Banks Unprepared for Pillar 3 Climate Risk Disclosures

    The European Central Bank (ECB) published results of the 2022 supervisory assessment of climate-related and environmental risk disclosures among significant institutions (103) and a selected number of less significant institutions (28).

    April 21, 2023 WebPage Regulatory News
    News

    NCUA Assesses Credit Union Exposure to Climate-Related Physical Risks

    The National Credit Union Administration (NCUA) released a Research Note that examines the exposure of credit unions to climate-related physical risks. In a related development

    April 21, 2023 WebPage Regulatory News
    News

    EBA Issues Multiple Regulatory and Reporting Updates for Banks

    The European Banking Authority (EBA) is seeking comments, until July 31, 2023, on the draft Guidelines on the proposed common approach to the resubmission of historical data under the EBA reporting framework.

    April 21, 2023 WebPage Regulatory News
    News

    EC Adopts Regulation on Own Funds, Issues Other Updates

    The European Commission adopted Delegated Regulations on own funds and eligible liabilities, on requirements for the internal methodology under the internal default risk model

    April 20, 2023 WebPage Regulatory News
    News

    CDP Platform to Report Plastic-Related Impact, Issues Other Updates

    The Carbon Disclosure Project (CDP) announced that its global environmental disclosure platform has enabled reporting on plastic-related impact for nearly 7,000 companies worldwide

    April 19, 2023 WebPage Regulatory News
    News

    IASB to Enhance Reporting of Climate Risks, Proposes IFRS 9 Amendments

    The International Accounting Standards Board (IASB) updated its work plan to enhance the reporting of climate-related risks in the financial statements,

    April 19, 2023 WebPage Regulatory News
    News

    BIS Addresses Data Gaps and Macro-Prudential Policy for Climate Risks

    The Financial Stability Institute (FSI) of the Bank for International Settlements (BIS) published a brief paper that examines challenges associated with the use of macro-prudential policies to address climate-related financial risks.

    April 17, 2023 WebPage Regulatory News
    News

    FCA Sets Out Business Plan, Launches TechSprint on Greenwashing

    The Financial Conduct Authority (FCA) published its business plan for 2023-24. The plan sets out details of the work planned for the next 12 months to achieve better outcomes for consumers and markets

    April 17, 2023 WebPage Regulatory News
    News

    UK Committee Sets Out Recommendations for Next Phase of Open Banking

    The Joint Regulatory Oversight Committee (JROC), comprising the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) as co-chairs and the HM Treasury and the Competition and Markets Authority (CMA) as members

    April 17, 2023 WebPage Regulatory News
    News

    ECB Publishes Multiple Regulatory Updates for Banking Institutions

    The European Central Bank (ECB) published the results of the 2022 climate risk stress test of the Eurosystem balance sheet,

    April 17, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8873