ACPR Announces Relief Measures to Address Impact of COVID-19 Pandemic
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)
- Notification on Reporting Relaxation for Banks (PDF)
- Notification on Reporting Relaxation for Insurers (PDF)
- Announcements Related to COVID-19
- Notice on Implementation of EBA Guidelines, EBA/GL/2020/02 (PDF)
- Press Release on Submission of Activity Report
- Measures Taken in Response to COVID-19 (in English)
Keywords: Europe, French, Banking, Insurance, Reporting, COVID-19, COREP, FINREP, Loan Moratorium, Liquidity Risk, Resolution Plan, Credit Risk, EBA, ACPR
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.

Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
PRA Identifies Internationally Active Insurance Groups in UKRelated Articles
EU Agencies Update LCR Rule and Macro-Prudential Policy Recommendation
The European Commission (EC) published the Delegated Regulation 2022/786 with regard to the liquidity coverage requirements for credit institutions under the Capital Requirements Regulation (CRR).
EBA Publishes Regulatory Standards to Identify Shadow Banking Entities
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying the criteria to identify shadow banking entities for the purposes of reporting large exposures.
EIOPA Examines Physical Climate Risk Exposure, SII Non-Compliance
The European Insurance and Occupational Pensions Authority (EIOPA) published a report assessing insurers' exposure to physical climate change risks
EC Publishes Results on Review of Web Accessibility Directive
The European Commission (EC) published the results of a public consultation, held in October 2021, on the review of the Web Accessibility Directive.
NGFS Report Explores Quantification of Climate Risk Differentials
The Network for Greening the Financial System (NGFS) published two reports to aid central banks and regulators in their oversight of the financial sector and in their central bank operations
MAS Consults on Adjustment Spreads for Conversion of SOR Contracts
The Monetary Authority of Singapore (MAS) and the SC-STS are jointly consulting, until June 10, 2022, on setting adjustment spreads for the conversion of legacy SOR contracts to SORA reference rate.
OSFI Discusses Benchmark Rate Transition, Sets Out Work Priorities
The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.
EBA Proposes Standards to Support Secondary NPL Markets
The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.
EU Confirms Agreement on Rules on Cybersecurity and Banking Resolution
The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).
EBA Issues Standards for Crowdfunding Service Providers Under ECSPR
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.