Featured Product

    EC Amends Rule on Benchmarking Portfolios and Reporting Templates

    May 18, 2018

    EC published the Commission Implementing Regulation (EU) 2018/688 that amends the Implementing Regulation (EU) 2016/2070 on benchmarking portfolios, reporting templates, and reporting instructions. This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

    Regulation (EU) 2016/2070 specifies the information that institutions must report to EBA and to competent authorities to enable the assessments of internal approaches for calculating own funds requirements (benchmarking exercise) in accordance with Article 78 of the Capital Requirements Directive (CRD) IV. Considering that the benchmarking exercise is of at least annual duration and that the focus of the competent authorities' assessments and of EBA's reports may change over time, exposures or positions that are included in the benchmarking portfolios, and therefore also reporting requirements, need to be regularly adapted accordingly. Therefore, it is appropriate to amend Annexes I to VI to Implementing Regulation (EU) 2016/2070. Regulation (EU) 2016/2070 has been amended as follows:

    • Article 7(3) is replaced by the following: “3. By way of derogation from Article 2 and until May 31, 2018, institutions shall not be required to report column 180 of templates 102 and 103 of Annex III where they do not compute the own funds requirements for credit risk resulting from the application of the standardized approach.”
    • Annex I has been replaced by the text set out in Annex I to this Regulation
    • Annex II has been replaced by the text set out in Annex II to this Regulation
    • Annex III has been replaced by the text set out in Annex III to this Regulation
    • Annex IV has been replaced by the text set out in Annex IV to this Regulation
    • Annex V has been replaced by the text set out in Annex V to this Regulation
    • Annex VI has been replaced by the text set out in Annex VI to this Regulation

    Institutions should be given sufficient time from the entry into force of this Regulation to report results of the benchmarking exercise to the competent authorities. Consequently, the deadline set out in Article 4(2) of Regulation (EU) 2016/2070 should not apply with respect to the reporting in 2018. This regulation is based on the draft implementing technical standards submitted by EBA to EC.

     

    Related Link: Regulation (EU) 2018/688

    Effective Date: June 07, 2018

    Keywords: Europe, EU, Banking, Regulation 2018/688, CRD IV, Benchmarking Portfolios, Reporting, EC

    Featured Experts
    Related Articles
    News

    Regulators Fine Goldman Sachs for Risk Management Failures

    FCA and PRA in the UK, FED in the US, and the authorities in Singapore have fined Goldman Sachs for risk management failures in connection with the 1Malaysia Development Berhad (1MDB).

    October 23, 2020 WebPage Regulatory News
    News

    Canada Hosts International Conference of Banking Supervisors

    BCBS announced that OSFI and the Bank of Canada hosted the 21st International Conference of Banking Supervisors (ICBS) virtually on October 19-22, 2020.

    October 22, 2020 WebPage Regulatory News
    News

    FCA Proposes More Measures to Help Insurance Customers Amid Crisis

    FCA proposed guidance on how firms should continue to seek to help customers who hold insurance and premium finance products and may be in financial difficulty because of COVID-19, after October 31, 2020.

    October 21, 2020 WebPage Regulatory News
    News

    EBA Issues Opinion to Address Risk Stemming from Legacy Instruments

    EBA issued an opinion on prudential treatment of the legacy instruments as the grandfathering period nears an end on December 31, 2021.

    October 21, 2020 WebPage Regulatory News
    News

    ESRB Publishes Non-Bank Financial Intermediation Risk Monitor for 2020

    ESRB published the fifth issue of the EU Non-bank Financial Intermediation Risk Monitor 2020 (NBFI Monitor).

    October 21, 2020 WebPage Regulatory News
    News

    HM Treasury Publishes Policy Statement Amending Benchmarks Regulation

    HM Treasury announced that the new Financial Services Bill has been introduced in the Parliament.

    October 21, 2020 WebPage Regulatory News
    News

    APRA Initiates Action Against a Bank for Liquidity Compliance Breach

    APRA announced that it has increased the minimum liquidity requirement of Bendigo and Adelaide Bank for failing to comply with the prudential standard on liquidity.

    October 21, 2020 WebPage Regulatory News
    News

    PRA Consults on Implementation of Certain Provisions of CRD5 and CRR2

    PRA published the consultation paper CP17/20 to propose changes to certain rules, supervisory statements, and statements of policy to implement elements of the Capital Requirements Directive (CRD5).

    October 20, 2020 WebPage Regulatory News
    News

    US Agencies Finalize Rule to Reduce Impact of Large Bank Failures

    US Agencies adopted a final rule that applies to advanced approaches banking organizations and aims to reduce interconnectedness in the financial system as well as to reduce contagion risks associated with the failure of a global systemically important bank (G-SIB).

    October 20, 2020 WebPage Regulatory News
    News

    US Agencies Finalize Rule on Net Stable Funding Ratio Requirements

    US Agencies (FDIC, FED, and OCC) adopted a final rule that implements the net stable funding ratio (NSFR) for certain large banking organizations.

    October 20, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 6004