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    MFSA Issues Reporting Updates and Guidance for Banks

    October 05, 2021

    The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0, in addition to the reporting module on leverage under the common reporting (COREP) framework. The reporting module on leverage is applicable from the reference date of June 2021. MFSA also published the LH Portal submission guidelines for reporting of the minimum requirement for own funds and eligible liabilities (MREL) and the total loss-absorbency requirement (TLAC) data, as outlined in the Commission Implementing Regulation 2021/763. The first reference date for reporting of MREL and TLAC data is June 30, 2021, with a deadline for submission of the first reporting to MFSA on September 30, 2021.

    Regulation 2021/763 lays out technical standards for the application of the Capital Requirements Regulation (CRR) and the Bank Recovery and Resolution Directive (BRRD) with respect to the supervisory reporting and public disclosure of MREL. Institutions in scope of this new reporting requirement have been notified bilaterally by MFSA. These institutions shall submit the required data via MFSA’s LH Portal according to the MFSA submission guidelines for the reporting of MREL and TLAC data. The reporting process for MREL and TLAC data will be identical to the one used for the annual data collection for resolution reporting in XBRL format (zipped file). Data quality feedback on submissions through the “MRELTLAC” reporting project will be automatically received by a credit institution following the submission. In another development, MFSA has decided to ease the restriction on dividend distributions and share buybacks from October 01, 2021. This is in line with the decisions of the European Central Bank and the European Systemic Risk Board, as published in July 2021 and September 2021, respectively. These restrictions were implemented as part of the measures to manage the impact of the COVID-19 pandemic.

     

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    Keywords: Europe, Malta, Banking, Reporting, COREP, LH Portal, CRR, CRD IV, BRRD, Basel, MREL, TLAC, Resolution Framework, Implementing Technical Standards, COVID-19, Dividend Distribution, Regulatory Capital, EBA, EC, MFSA

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