Featured Product

    ECB Amends Rule on Reporting of Supervisory Financial Information

    May 07, 2020

    ECB Regulation 2020/605 has been published in the Official Journal of the European Union. Regulation 2020/605 amends Regulation 2015/534 on the reporting of supervisory financial information (ECB/2020/22). The amendments relate to the simplified and over-simplified supervisory financial reporting, along with certain FINREP data points under IFRS or national accounting frameworks. Regulation 2020/605 shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. It shall apply from June 01, 2020.

    The regulation that is being amended (2015/534) lays down reporting requirements for the supervisory financial information to be submitted by supervised entities to national competent authorities. Regulation 2015/534 requires supervised entities to report supervisory financial information based on the templates developed by EBA and laid down by the Implementing Regulation 680/2014. Implementing Regulation 680/2014 has recently been amended, resulting in changes to the templates and instructions for the reporting of supervisory financial information. This makes it necessary to align Regulation 2015/534 with the Implementing Regulation 2020/429, which amended Regulation 680/2014. Therefore, Regulation 2015/534 is being amended as follows:

    • Annex I entitled "Simplified supervisory financial reporting" is being amended in accordance with Annex I to the Regulation (ECB/2020/22)
    • Annex II entitled "Over-simplified supervisory financial reporting" is being amended in accordance with Annex II to the Regulation (ECB/2020/22)
    • Annex IV entitled "FINREP data points under IFRS or National GAAP compatible with IFRS" is being replaced by Annex III to the Regulation (ECB/2020/22)
    • Annex V entitled “FINREP data points under national accounting frameworks" is being replaced by Annex IV to the Regulation (ECB/2020/22)

     

    Related Link: Regulation 2020/605

    Effective Date: May 27, 2020

    Keywords: Europe, EU, Banking, Accounting, Reporting, FINREP, IFRS, GAAP, Regulation 680/2014, Regulation 2015/534, Financial Reporting, ECB

    Related Articles
    News

    PRA Finalizes Supervisory Approach for Non-Systemic Banks in UK

    PRA published the policy statement PS8/21, which contains the final supervisory statement SS3/21 on the PRA approach to supervision of the new and growing non-systemic banks in UK.

    April 15, 2021 WebPage Regulatory News
    News

    EBA Finalizes Standards on Methods of Prudential Consolidation

    EBA published a report that sets out the final draft regulatory technical standards specifying the conditions according to which consolidation shall be carried out in line with Article 18 of the Capital Requirements Regulation (CRR).

    April 15, 2021 WebPage Regulatory News
    News

    EBA Updates List of Other Systemically Important Institutions in EU

    EBA updated the list of other systemically important institutions (O-SIIs) in EU.

    April 15, 2021 WebPage Regulatory News
    News

    BCBS Report Concludes Basel Risk Categories Can Capture Climate Risks

    BCBS published two reports that discuss transmission channels of climate-related risks to the banking system and the measurement methodologies of climate-related financial risks.

    April 14, 2021 WebPage Regulatory News
    News

    UK Authorities Welcome FSB Review of their Remuneration Regime

    UK Authorities (FCA and PRA) welcomed the findings of FSB peer review on the implementation of financial sector remuneration reforms in the UK.

    April 14, 2021 WebPage Regulatory News
    News

    PRA and FCA Letter on Addressing Risks from Use of Deposit Aggregators

    PRA and FCA jointly issued a letter that highlights risks associated with the increasing volumes of deposits that are placed with banks and building societies via deposit aggregators and how to mitigate these risks.

    April 14, 2021 WebPage Regulatory News
    News

    MFSA to Amend Banking Act and Rules in Coming Months to Transpose CRD5

    MFSA announced that amendments to the Banking Act, Subsidiary Legislation, and Banking Rules will be issued in the coming months, to transpose the Capital Requirements Directive (CRD5) into the national regulatory framework.

    April 14, 2021 WebPage Regulatory News
    News

    EC Delegated Regulation on Specialized Lending Exposures Under CRR

    EC finalized the Delegated Regulation 2021/598 that supplements the Capital Requirements Regulation (CRR or 575/2013) and lays out the regulatory technical standards for assigning risk-weights to specialized lending exposures.

    April 14, 2021 WebPage Regulatory News
    News

    OSFI Proposes to Enhance Assurance Expectations for Basel Returns

    OSFI launched a consultation to explore ways to enhance the OSFI assurance over capital, leverage, and liquidity returns for banks and insurers, given the increasing complexity arising from the evolving regulatory reporting framework due to IFRS 17 (Insurance Contracts) standard and Basel III reforms.

    April 13, 2021 WebPage Regulatory News
    News

    ECB Issues Results of Benchmarking Analysis of Recovery Plans of Banks

    ECB published results of the benchmarking analysis of the recovery plan cycle for 2019.

    April 13, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6858