CSSF Updates Reporting Requirements, Sets CCyB Rate at 0.50%
CSSF published Regulation No. 20-06 that sets out the countercyclical buffer rate for the fourth quarter of 2020 at 0.50%. This rate will be applicable from January 01, 2021. Annex 1 to the regulation lays out elements that have been considered in setting the applicable countercyclical buffer rate while Annex 2 presents the text of the Systemic Risk Committee recommendation. The regulation shall come into force on the day of its publication in the Official Journal of the Grand Duchy of Luxembourg. In addition, CSSF published version 5.9 of the reporting requirements for credit institutions.
In December 2019, EBA had published the revised guidelines on harmonized definition and templates for funding plans of credit institutions (EBA/GL/2019/05). Version 5.9 of the reporting requirements include this update of the legal reference (EBA/GL/2019/05) for funding plans reporting. The document on reporting requirements for credit institutions aims to provide an overview of the periodical reporting requirements and other regular reporting applicable to credit institutions in Luxembourg (Chapters 1 to 4) as well as the reporting formats and technical specifications (Chapter 5).
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Keywords: Europe, EU, Luxembourg, Banking, CCyB, Regulatory Capital, Basel, Reporting, Funding Plans, EBA, CSSF
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