Featured Product

    Bundesbank Issues Updates on Cyber Risk Mapping & Reporting for Banks

    May 09, 2022

    Deutsche Bundesbank published reporting updates for banks and announced the establishment of a knowledge transfer laboratory to investigate potential cyber risks with the help of artificial intelligence while the Federal Financial Supervisory Authority of Germany (BaFin) published the report detailing its supervisory activities in 2021.

    As part of the reporting updates for banks, Bundesbank published the XBRL taxonomy 3.2, pursuant to the EBA implementing technical standards on supervisory reporting. The taxonomy version 3.2 contains forms with the German header information. Bundesbank also published Version 2.04 of the derivation rules for completeness check at the form level, with respect to the data quality of the European harmonized reporting system. Finally, Bundesbank published Version 4.02 of the document containing information on additional ECB validation rules that go beyond the relevant taxonomy. Bundesbank published these additional validation rules as part of the implementation of reporting at the national level. According to Article 4 of the Regulation ECB/2014/29, national supervisory authorities should apply both the validation and plausibility checks published by EBA and those defined by ECB in the context of data quality checks. This version includes list of checks valid from the second quarter of 2022.

    Bundesbank and the German Research Center for Artificial Intelligence (DFKI) are establishing a joint knowledge transfer laboratory to investigate potential cyber risks for the financial and banking system with the help of artificial intelligence. The new TransferLab wants to capture the relationships between the players in the German financial system and the corresponding cyber network. Benjamin Weigert, Head of Financial Stability at the Deutsche Bundesbank, is expecting a substantial benefit from the project: "As part of the Bundesbank's statutory financial stability mandate, we are required to deal with the financial stability implications of cyber risks. To do this, we have to analyze the networking of the German financial system using information and communication technologies. Linking the cyber mapping concept developed at the Bundesbank with artificial intelligence methods and processes represents a promising approach to achieving this goal."


    Related Links (in German)

    Keywords: Europe, Germany, Banking, Cyber Risk, Cyber Mapping, Artificial Intelligence, Regtech, Suptech, Derivation Rules, Validation Rules, Annual Report, Taxonomy, Reporting Framework 3.2, Reporting, EBA, ECB, Bundesbank, BaFin

    Featured Experts
    Related Articles

    FINMA Approves Merger of Credit Suisse and UBS

    The Swiss Financial Market Supervisory Authority (FINMA) has approved the takeover of Credit Suisse by UBS.

    March 21, 2023 WebPage Regulatory News

    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

    APRA Assesses Macro-Prudential Policy Settings, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) published an information paper that assesses its macro-prudential policy settings aimed at promoting stability at a systemic level.

    March 07, 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

    MFSA Sets Out Supervisory Priorities, Issues Reporting Updates

    The Malta Financial Services Authority (MFSA) outlined its supervisory priorities for 2023

    March 02, 2023 WebPage Regulatory News

    German Regulators Issue Multiple Reporting Updates for Banks

    Deutsche Bundesbank published the nationally deactivated validation rules for the German Commercial Code (HGB) users on the taxonomy 3.2, which became valid from December 31, 2022

    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
    RESULTS 1 - 10 OF 8806