Featured Product

    ACPR Announces Relief Measures to Address Impact of COVID-19 Pandemic

    May 27, 2020

    ACPR announced the decision to relax reporting obligations for the supervised credit institutions by one to two months, in accordance with the EBA recommendations published in March 2020. ACPR also announced a relaxation of the reporting dates for the insurance sector and recommended that banks should not distribute dividends, temporarily, considering the current economic situation. In another notification, ACPR clarified its intention to comply with the EBA guidelines (EBA/GL/2020/02) on legislative and non-legislative moratoria on loan repayments applied due to the COVID-19 pandemic. Finally, in addition to these, ACPR has launched a thematic survey on operating loss guarantees.

    ACPR has provided one-month flexibility for COREP and FINREP reports to be submitted by less significant credit institutions and by certain investment firms. ACPR has not provided this flexibility for reports whose submission within the required deadlines is considered essential in the context of the current crisis. These include monthly statements related to the calculation of liquidity requirements and statements necessary for the development and/or updating of the resolution plans. In accordance with the provisions of the Ordinance n° 2020-306, the deadlines for regulatory reporting, which expire between March 12 and the end of the state of health emergency (plus one month), have been postponed to the end of this period, for up to a maximum of two months. This deferral applies to prudential and financial reports (SURFI), with the certain exceptions. The deferral also applies to documents and narrative reports, such as the report on internal control, due from all the establishments in the banking sector supervised by ACPR. ACPR also decided to temporarily accept reports not complying with the requirements related to electronic signature. ACPR may accept, on a case-by-case basis, the documents and reports not delivered via the “OneGate” portal. It will be on request and under the sole responsibility of the establishments.

    With respect to the submission of activity report, in accordance with the instruction no 2019-I-24 (amending instruction no 2017-I-11) related to information on the mechanism for preventing money laundering and terrorist financing, branches of establishments having their head office in another member state of the EU shall submit to ACPR a report on their activities in electronic form via the OneGate portal. A specific office report entitled "RCIRAPPORTACTIVITE" is available in OneGate under the RCI domain (internal control report and related documents) to report this information. According to instruction No. 2019-I-24, the report has to be submitted by May 31 of each year. However, due to COVID-19 pandemic, ACPR has delayed the submission date till August 24, 2020 for the fiscal year 2019.

     

    Related Links (in French)

    Keywords: Europe, French, Banking, Insurance, Reporting, COVID-19, COREP, FINREP, Loan Moratorium, Liquidity Risk, Resolution Plan, Credit Risk, EBA, ACPR

    Featured Experts
    Related Articles
    News

    EBA Updates List of Validation Rules for Reporting by Banks

    EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.

    September 10, 2020 WebPage Regulatory News
    News

    EBA Responds to EC Call for Advice to Strengthen AML/CFT Framework

    EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).

    September 10, 2020 WebPage Regulatory News
    News

    NGFS Advocates Environmental Risk Analysis for Financial Sector

    NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.

    September 10, 2020 WebPage Regulatory News
    News

    MAS Issues Guidelines to Promote Senior Management Accountability

    MAS published the guidelines on individual accountability and conduct at financial institutions.

    September 10, 2020 WebPage Regulatory News
    News

    APRA Formalizes Capital Treatment and Reporting of COVID-19 Loans

    APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.

    September 09, 2020 WebPage Regulatory News
    News

    SRB Chair Discusses Path to Harmonized Liquidation Regime for Banks

    SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.

    September 09, 2020 WebPage Regulatory News
    News

    FSB Workshop Discusses Preliminary Findings of Too-Big-To-Fail Reforms

    FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.

    September 09, 2020 WebPage Regulatory News
    News

    ECB Updates List of Supervised Entities in EU in September 2020

    ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.

    September 08, 2020 WebPage Regulatory News
    News

    OSFI Identifies Focus Areas to Strengthen Third-Party Risk Management

    OSFI published the key findings of a study on third-party risk management.

    September 08, 2020 WebPage Regulatory News
    News

    FSB Extends Implementation Timeline for Framework on SFTs

    FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.

    September 07, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5796