ECB Amends Rule on Reporting of Supervisory Financial Information
ECB published the Regulation ECB/2021/24, which amends Regulation 2015/534 (also known as the ECB FINREP Regulation), on reporting of supervisory financial information. The ECB FINREP Regulation is being updated in response to the revised Capital Requirements Regulation (CRR2) and the adoption of Regulation 2021/451, which sets out the implementing technical standards on supervisory reporting of institutions. The Regulation ECB/2021/24 shall enter into force on the fifth day following that of its publication in the Official Journal of the European Union. It shall apply from June 28, 2021.
Regulation 2021/451 is repealing and replacing the Regulation 680/2014 on the implementing technical standards for supervisory reporting of institutions, in accordance with the CRR. As ECB FINREP Regulation provides for the use of templates developed by EBA and enacted in Regulation 680/2014, references to Regulation 680/2014 in the ECB FINREP Regulation are being updated. It is also necessary to consider other changes that require updates to cross-references to Regulation 2021/451 to ensure that ECB FINREP Regulation remains consistent with the applicable Regulation ECB/2021/24. These changes include certain changes in the naming and structure of certain templates in the Annexes to the ECB FINREP Regulation, to align with the naming and structure of the templates in the Annexes to Regulation 2021/451. Annexes to the Regulation ECB/2021/24, which mainly address the associated reporting templates and instructions, present amendments to the Annexes to ECB FINREP Regulation. Finally, references to CRR in the ECB FINREP Regulation are being updated to incorporate the CRR2 amendments from May 2019.
Related Link: ECB/2021/24 (PDF)
Effective Date: OJ+5 Days
Keywords: Europe, EU, Banking, Reporting, FINREP, Accounting, CRR, Basel, CRR2, IFRS 9, Financial Instruments, ECB
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