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
    News

    UK Authorities Consult on Implementation of Basel 3.1 Standards

    The UK authorities have published consultations with respect to the Basel requirements for banks. The Prudential Regulation Authority (PRA) published the consultation paper CP16/22 on rules for the implementation of Basel 3.1 standards.

    November 30, 2022 WebPage Regulatory News
    News

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News
    News

    FSB and NGFS Publish Initial Findings from Climate Scenario Analyses

    The Financial Stability Board (FSB) and the Network for Greening the Financial System (NGFS) published a joint report that outlines the initial findings from climate scenario analyses undertaken by financial authorities to assess climate-related financial risks.

    November 15, 2022 WebPage Regulatory News
    News

    FSB Issues Reports on NBFI and Liquidity in Government Bonds

    The Financial Stability Board (FSB) published a letter intended for the G20 leaders, highlighting the work that it will undertake under the Indian G20 Presidency in 2023 to strengthen resilience of the financial system.

    November 14, 2022 WebPage Regulatory News
    News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News
    News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News
    News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News
    News

    EU Finalizes Rules Under Crowdfunding Service Providers Regulation

    The European Union has finalized and published, in the Official Journal of the European Union, a set of 13 Delegated and Implementing Regulations applicable to the European crowdfunding service providers.

    November 08, 2022 WebPage Regulatory News
    News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News
    News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8597