BoE Consults on Working Draft of Standalone MREL Reporting Taxonomy
BoE published a public working draft of the standalone minimum requirement for own funds and eligible liabilities (MREL) reporting taxonomy, along with the related technical artefacts. This draft taxonomy is a part of the Version 3.1.0 of the banking XBRL taxonomy. Feedback is invited from firms and software vendors by May 17, 2018. BoE aims to publish the final version of the taxonomy and data point model (DPM) dictionary in Summer of 2018.
The taxonomy, DPM dictionary, annotated templates, and validation rules represent the requirements for MREL reporting, as mentioned in the consultation paper CP1/18. The proposals in the CP1/18 aim to provide PRA and BoE with information to monitor firms’ progress toward meeting the interim MREL and their eventual compliance with the end-state MREL, to ensure that the policy objectives that underpin MREL are met. This public working draft is not to be used for reporting. The BoE Electronic Data Submission (BEEDS) system will be used to collect the MREL reporting data.
Related Links
Comment Due Date: May 17, 2018
Keywords: Europe, UK, Banking, MREL, Reporting, Taxonomy, XBRL, DPM, BEEDS, BoE
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Pierre-Etienne Chabanel
Brings expertise in technology and software solutions around banking regulation, whether deployed on-premises or in the cloud.
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Previous Article
EIOPA Issues Paper on Solvency II Tools with Macro-Prudential ImpactRelated Articles
APRA Finalizes Reporting Standard for Operational Risk Requirements
APRA finalized the reporting standard ARS 115.0 on capital adequacy with respect to the standardized measurement approach to operational risk for authorized deposit-taking institutions in Australia.
ECB Publishes Guide for Determining Penalties for Regulatory Breaches
ECB published a guide that outlines the principles and methods for calculating the penalties for regulatory breaches of prudential requirements by banks.
MAS Sets Out Good Practices to Manage Operational Risks Amid COVID
MAS and The Association of Banks in Singapore (ABS) jointly issued a paper that sets out good practices for the management of operational and other risks stemming from new work arrangements adopted by financial institutions amid the COVID-19 pandemic.
ACPR Announces New Data Collection Application for Banks and Insurers
ACPR announced that a new data collection application, called DLPP (Datalake for Prudential), for collecting banking and insurance prudential data will go into production on April 12, 2021.
BCB Maintains CCyB at 0%, Initiates First Cycle of Regulatory Sandbox
BCB announced that the Financial Stability Committee decided to maintain the countercyclical capital buffer (CCyB) for Brazil at 0%, at least until the end of 2021.
EBA Consults on Pillar 3 Disclosure Standards for ESG Risks Under CRR
EBA is consulting on the implementing technical standards for Pillar 3 disclosures on environmental, social, and governance (ESG) risks, as set out in requirements under Article 449a of the Capital Requirements Regulation (CRR).
ESAs Issue Advice on KPIs on Sustainability for Nonfinancial Reporting
ESAs Issue Advice on KPIs on Sustainability for Nonfinancial Reporting
EIOPA Launches Study on Non-Life Underwriting Risk in Internal Models
EIOPA has launched a European-wide comparative study on non-life underwriting risk in internal models, also kicking-off of the data collection phase.
SRB Publishes Overview of Resolution Tools Available in Banking Union
SRB published an overview of the resolution tools available in the Banking Union and their impact on a bank’s ability to maintain continuity of access to financial market infrastructure services in resolution.
EU Amends CRD4 and CRD5 as Part of Capital Markets Recovery Package
EU published Directive 2021/338, which amends the Markets in Financial Instruments Directive (MiFID) II and the Capital Requirements Directives (CRD 4 and 5) to facilitate recovery from the COVID-19 crisis.
