Documentation of the Banks' Integrated Reporting Dictionary (BIRD) Release 2.0 has been published. This release consists of a complete methodology used to describe the various datasets of the different layers (for example: Input Layer, Output Layer) in the BIRD. The transformation rules necessary to generate the covered regulatory frameworks will be added in the upcoming release 2.1.
BIRD Release 2.0 integrates the following reporting requirements:
- EBA Implementing Technical Standards with respect to FinRep requirements (version 2.7), implementing the CRD IV/CRR framework.
- Regulation (EU) 2016/867 of ECB on the collection of granular credit and credit risk data for resident credit institutions and resident foreign branches of credit institutions (AnaCredit Regulation)
- Regulation (EU) No 1011/2012, as amended by Regulation (EU) 2016/1384. It concerns the collection of Statistics on Holdings of Securities (SHS).
The following are the key changes compared to the previous release:
- Enhanced dictionary functionalities (that is, improvements of the metadata methodology) that provide additional features for describing integrated data.
- Description of FinRep Templates (using both, the DPMs codification system as and the reference codification system) based on this methodology.
- New structure and content of the technical guidelines: It contains documentation with concrete examples to understand the methodology and the transformation rules, both in a general environment and with respect to specific frameworks.
- Entity relationship model visualization: on the sidebar you find a tab linking you to the BIRD’s Input Layer ERM as well as the dictionary’s underlying Information Model ERM. Both ERMs are interactive; double-clicking on an entity will link to the description of the entity.
- Dictionary navigator improvements: It provides different access points to the content of the dictionary.
In the future, new visualization tools will be provided for mappings, transformations, and hierarchies. Transformation rules will also be provided to derive FinRep Templates as well as AnaCredit and SHS, starting from the BIRD Input Layer.
Keywords: Europe, Banking, BIRD Database, Reporting, AnaCredit, SHS, FINREP, Statistics, BIRD
MAS and Temasek jointly released a report to mark the successful conclusion of the fifth and final phase of Project Ubin, which focused on building a blockchain-based multi-currency payments network prototype.
PRA published a public working draft, or PWD, of version 1.2.0 of the BoE Insurance XBRL taxonomy, along with the related technical artefacts.
CPMI published a report that sets out nineteen building blocks for a global roadmap to improve cross-border payments.
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
APRA updated the lists of the Direct to APRA (D2A) validation rules for authorized deposit-taking institutions, insurers, and superannuation entities.
PRA updated the statement that provides guidance to regulated firms on implementation of the EBA guidelines on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis.
EBA updated the 2019 list of closely correlated currencies that was originally published in December 2013.
ESMA published the final report on the guidelines on securitization repository data completeness and consistency thresholds.
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.