SRB, in collaboration with the national resolution authorities, is starting its annual Resolution Reporting Data Collection exercise. During the 2021 exercise, the collection will be based on data as at December 31, 2020. SRB has published guidance, taxonomy extension documents, and templates for 2021 resolution reporting. The guidance has been published for the 2021 Liability Data Report (LDR), Critical Functions Report (CFR), and Financial Market Infrastructure Report (FMIR). The reporting deadline for the Liability Data Report is March 31, 2021 while the deadline for all other reports under the Commission Implementing Regulation 2018/1624 is April 30, 2021. SRB also decided to anticipate ongoing work with EBA on MREL reporting, following changes to the Banking Package. The data request for the Additional Liability Report is reflected in a dedicated reporting template and related guidance to be used for the 2021 data collection. This data request will not pre-empt the orientation of the MREL policy rather it is inherent to the build-up of the policy and has been designed to ensure the timely collection of data starting from March 2021.
SRB is responsible for centralizing resolution reporting for banks under its remit, before these are transferred to EBA. SRB has provided a list of reports that it will collect from national resolution authorities exclusively in XBRL format. As was the case in previous collections, national resolution authorities will communicate reporting requirements of banks, as determined in collaboration with SRB. SRB has highlighted the overlap between the EBA and SRB reporting requirements. Where an SRB Replacement Report exists (for example, Z 02.00 on is replaced by T 01.00), only the replacement report should be sent by a bank (T 01.00). If no SRB Replacement Report exists (for example, Z 10.01), then the Z report needs to be sent (if requested by national resolution authority/SRB from the reporting entity). With the exception of T99.00, the "Other SRB Liability templates" should only be filled when explicitly requested by national resolution authority/SRB (granular reporting of POE files).
SRB also published the filing rules (version 4.0), validation rules (version 2.2), and taxonomy related to the 2021 resolution reporting. SRB taxonomy publication represents an SRB extension to the implementing technical standard EBA 2.10. This extension contains minor changes to EBA taxonomy and the validation rules, the changes which SRB deems necessary to facilitate data collection in the XBRL format in 2021. SRB reminded that banks are expected to reflect both the EBA 2.10 XBRL taxonomy and the SRB taxonomy extension when building their XBRL reporting systems for 2021. To ensure banks meet the reporting deadlines, SRB recommends that all banks implement the following measures:
- To support high quality and complete data, the resolution reports should be submitted in line with the published guidance, with validation checks performed by the bank ensuring reconciliation with its FINREP and COREP regulatory reporting requirements (where applicable).
- Banks should ensure that they have the necessary IT processes in place to facilitate a timely, controlled, and robust reporting process generating consistent and reliable results.
- 2021 Resolution Reporting
- Guidance on Liability Data Report
- Guidance on Critical Functions Report
- Guidance on Financial Market Infrastructure Report
- 2021 Template for Additional Liability Data Report
- Guidance on Additional Liability Data Report
- Regulation 2018/1624
Keywords: Europe, EU, Banking, Resolution Framework, Reporting, Liability Data Report, MREL, FINREP, COREP, Validation Rules, XBRL Taxonomy, FMIR, Data Collection, Framework 2.10, EBA, SRB
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