MFSA Updates Reporting Modules and Instructions for Banks
MFSA published a circular on submission of Remuneration Benchmarking and High Earners data to MFSA and updated certain reporting modules as part of the common reporting (COREP) and financial reporting (FINREP) frameworks under the Capital Requirements Regulation (CRR) and the implementing technical standards on supervisory reporting (EU Regulation 680/2014). The updated modules are part of the EBA framework versions 2.10 and 3.0. MFSA also updated the guidelines to the Capital Requirements Directive (CRD IV) supervisory reporting requirements for credit institutions and foreign bank branches. Also updated are the guidelines for credit institutions and branches to upload and review supervisory reporting data through LH Portal, along with the remittance timetable have been updated.
For credit institutions, the updated modules under COREP are related to own funds and own funds requirements (including immovable property losses), leverage, large exposures and concentration risk, and liquidity modules (including LCR DA, NSFR, and ALMM for additional liquidity monitoring metrics). For foreign bank branches, the COREP module for immovable property losses (module OF) has been updated. The updated FINREP modules include those on non-performing loans (NPLs) and forbearance, asset encumbrance, and remuneration for high earners for both credit institutions and foreign bank branches. Additionally, for credit institutions, MFSA updated FINREP modules on identification of global systemically important institutions or G-SIIs, specific reporting requirements for market risk (under the EU Regulation 2021/453), and remuneration benchmarking. Submission of data by credit institutions to MFSA shall be in line with the reporting dates available in the remittance timetable. The updated modules are applicable from the reference date June 2021, with certain exceptions: module on specific reporting requirements for market risk is applicable from the reference date September 2021 while modules on remuneration for benchmarking and remuneration for high earners are applicable from the reference date December 2020.
MFSA also published a circular that provides detailed information to institutions on developments with respect to the submission of Remuneration Benchmarking and High Earners data to MFSA in line with the EBA integration of these data requirements into the supervisory reporting taxonomy. Going forward, from the December 31, 2020 reference date, remuneration reporting data will be required to be submitted to MFSA in both XBRL and Excel formats, similar to the supervisory reporting modules (FINREP/COREP). Institutions will be required to submit data through the LH Portal. Institutions are reminded to follow all the provisions of the EBA guidelines on the remuneration benchmarking exercise and data collection exercise regarding high earners in reporting remuneration data to MFSA.
Related Links
Keywords: Europe, Malta, Banking, COREP, FINREP, LH Portal, Reporting, Remuneration, CRR, Basel, MFSA, Framework 2.10, Framework 3.0, MFSA
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
David Fihrer
Skilled life insurance actuary; subject matter expert on IFRS 17 and source of earnings
Related Articles
EBA Publishes Final Regulatory Standards on STS Securitizations
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.
ECB Further Reviews Costs and Benefits Associated with IReF
The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.
EBA Publishes Funding Plans Report, Receives EMAS Certification
The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).
MAS Launches SaaS Solution to Simplify Listed Entity ESG Disclosures
The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.
BCBS to Finalize Crypto Rules by End-2022; US to Propose Basel 3 Rules
The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.
IOSCO Welcomes Work on Sustainability-Related Corporate Reporting
The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)
BoE Allows One-Day Delay in Statistical Data Submissions by Banks
The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.
ACPR Amends Reporting Module Timelines Under EBA Framework 3.2
The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.
ECB Paper Discusses Disclosure of Climate Risks by Credit Agencies
The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)
APRA to Modernize Prudential Architecture, Reduces Liquidity Facility
The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.
