DNB Publishes Multiple Regulatory and Reporting Updates in June 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
- Updated Additional Data Requests (PDF)
- Notification on Structural FX Positions Reporting Obligation
- Explanatory Notes on Structural FX Positions
- Notification on Additional Data Quality Checks
- Notification on Audit Certification 2021
- Press Release on Study on Cyber Risk
Keywords: Europe, Netherland, Banking, Reporting, Structural Foreign Exchange, CRR, Basel, COREP, FINREP, Cyber Risk, Financial Stability, DNB
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
MNB Increases CCyB Rate, Revises Mortgage Funding Adequacy RatioRelated Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.
