Featured Product

    FI Publishes Reporting Updates, Moves to New Reporting System Fidac

    May 05, 2021

    The Swedish Financial Supervisory Authority FI announced that it is replacing the existing reporting systems with the new reporting system, Fidac, which will handle both periodic and event-driven reporting. From the reference date of June 30, 2021, the EBA framework reporting for credit institutions and investment firms must be done in Fidac and the test reporting for this will open on June 14, 2021. FI also published an update on the national adaptation of EBA validation rules for banks and investment firms and on the changes in requirements for reporting remuneration data.

    The following are the additional key highlights on the announcements made in context the change in the reporting system to Fidac:

    • The reporting of remuneration practices and high-paid employees will be done in the new reporting system Fidac. Thus, reporting in Excel format is no longer possible for the reference day on December 31, 2020. As of December 31, 2020, the remuneration reporting shall follow a new format based on the XBRL taxonomy version 2.10 and the reporting must be done in euros (EUR).
    • Due to FI changing the reporting system, reporting by reference date of December 31, 2020 will be possible as early as June 14, 2021. The reporting data must be received by FI no later than August 15, 2021.
    • FI had announced in October 2020 that banks and credit market companies from the turn of the year would use the LEI code as identifiers when reporting XBRL files. This will continue to apply until the reference date on May 31, 2021. Thereafter, the companies will use the institution number, instead of the LEI code; an exception to this requirement is the reporting of information on remuneration practices and high-paid employees. 


    Related Links (in Sweden and English)

    Keywords: Europe, EU, Sweden, Banking, Reporting, FIDAC, Remuneration, LEI, Validation Rules, CRR, IFR, Investment Firms, FI

    Featured Experts
    Related Articles

    BOE Sets Out Its Thinking on Regulatory Capital and Climate Risks

    The Bank of England (BOE) published a working paper that aims to understand the climate-related disclosures of UK financial institutions.

    March 13, 2023 WebPage Regulatory News

    OSFI Finalizes on Climate Risk Guideline, Issues Other Updates

    The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.

    March 12, 2023 WebPage Regulatory News

    BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending

    BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.

    March 03, 2023 WebPage Regulatory News

    HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks

    The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.

    March 02, 2023 WebPage Regulatory News

    BCBS Report Examines Impact of Basel III Framework for Banks

    The Basel Committee on Banking Supervision (BCBS) published results of the Basel III monitoring exercise based on the June 30, 2022 data.

    February 28, 2023 WebPage Regulatory News

    PRA Consults on Prudential Rules for "Simpler-Regime" Firms

    Among the recent regulatory updates from UK authorities, a key development is the first-phase consultation, from the Prudential Regulation Authority (PRA), on simplifications to the prudential framework that would apply to the simpler-regime firms.

    February 28, 2023 WebPage Regulatory News

    DNB Publishes Multiple Reporting Updates for Banks

    DNB, the central bank of Netherlands, updated the list of additional reporting requests and published additional data quality checks and XBRL-Formula linkbase documents for the first quarter of 2023.

    February 28, 2023 WebPage Regulatory News

    NBB Sets Out Climate Risk Expectations, Issues Reporting Updates

    The National Bank of Belgium (NBB) published a communication on climate-related and environmental risks, issued an update on XBRL reporting

    February 24, 2023 WebPage Regulatory News

    EBA Updates Address Securitization Standards and DGS Guidelines

    The European Banking Authority (EBA) published the final draft of the regulatory technical standards that set out conditions for assessment of homogeneity of the underlying exposures in simple, transparent, and standardized (STS) securitizations.

    February 21, 2023 WebPage Regulatory News

    FSB Publishes Letter to G20, Sets Out Work Priorities for 2023

    The Financial Stability Board (FSB) published a letter intended for the G20 Finance Ministers and Central Bank Governors, highlighting the work that FSB will take forward under the Indian G20 Presidency in 2023

    February 20, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8793