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.
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Comment Due Date: May 17, 2018
Keywords: Europe, UK, Banking, MREL, Reporting, Taxonomy, XBRL, DPM, BEEDS, BoE
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