ACPR published Decision n° 2021-CR-11 on resolvability assessment criteria, in view of transposition of the revised EU Bank Recovery and Resolution Directive or BRRD2 (with reference to Ordinance n ° 2020-1636 of December 21, 2020). The Decision relates to contractual recognition of stay powers under Article 71a of BRRD. With this decision, the Decision n° 2017-CR-09 of the resolution college, dated December 18, 2017, is being repealed. Additionally, BDF confirmed that the remuneration reports (in reference to the 12.2020 decree) must be submitted with the taxonomy version 3.0 on the OneGate portal, instead of the taxonomy version 2.10 as initially planned. Institutions that have already submitted their remuneration reporting with version 2.10 of the taxonomy for the 12.2020 decree are being required to make a new submission with version 3.0.
As version 3.0 of the taxonomy is being implemented in the IT system of BDF, reporting entities are being asked not to report on the REM and REM HE entry points in the REU domain on the OneGate Test and OneGate Production portals with the taxonomy version 2.10 until further notice. BDF will notify entities when the submission of these reports is authorized again. BDF also announced the following details on the terms of submission of the REM and REM HE reports:
- A new domain entitled "REU" was created on the OneGate portal at the level of the "SURFI" data collection. No access to the "REU" domain was automatically opened. A request for the extension of rights must, therefore, be made for people already accredited to the OneGate portal on the SURFI collection. For new remitters, a complete accreditation request for the SURFI collection must be made on the portal.
- The rights to be signed on the “SUR” domain will not apply for the submission of these remuneration statements; it is, therefore, necessary that the establishments subject to the submission of remuneration statements for the decree of 12.2020 renew their declaration of rights to sign. The technical note 2010-05-version, dated February 2020, relating to the electronic signature and the forms of rights to be signed have been updated with the addition of the "REU" domain and published on the E-SURFI site at the level of "technical information."
- Concerning the subjugations, they are currently being configured in the system and will be distributed in April in the visiting cards.
Related Links (in French)
Keywords: Europe, France, Banking, Reporting, Remuneration, Reporting Framework 2.10, Reporting Framework 3.0, OneGate Portal, Resolution Framework, Contractual Recognition, Stay Powers, BRRD, ACPR, BDF
Scott is a Director in the Regulatory and Accounting Solutions team responsible for providing accounting expertise across solutions, products, and services offered by Moody’s Analytics in the US. He has over 15 years of experience leading auditing, consulting and accounting policy initiatives for financial institutions.
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