NBB Issues Reporting Updates and Retains CCyB at 0%
The National Bank of Belgium (NBB) decided to maintain the countercyclical buffer (CCyB) rate at 0% for the fourth quarter of 2022. Additionally, NBB announced connection to OneGate via CSAM and issued update on changes to the XBRL reporting process and protocol.
NBB announced that OneGate will allow external users to authenticate themselves via CSAM, which is the e-services access portal of the government. With CSAM, users themselves can manage various roles that must be filled by employees in a company. The CSAM portal guarantees a higher level of security than certificates or the combination of a username and password as it requires, among other things, the use of an e-card reader or the itsme application for authentication. The CSAM portal is intended to replace the existing method by the end of 2023.
With regard to changes to the XBRL reporting process and protocol, OneGate needs to be adjusted to comply with the requirements laid down by the European Banking Authority (EBA) in its filing rules (version 5.2). The filing rules were implemented in two phases. On October 24, 2022, filing rule 1.6 was implemented in the OneGate test environment, which implies that a filing indicator is required for each template in the taxonomy, regardless of the presence of the template in OneGate control panel. However, filing rule 3.6 will be implemented in the OneGate test environment around mid-November, which implies that the CON/IND information disappears from the taxonomy (and the OneGate report) and is added as an extension to the identifier. The reporting protocol was modified to reflect these changes and both changes will be implemented in the production environment of OneGate around the end of the year.
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Keywords: Europe, Belgium, Banking, CCyB, Basel, Regulatory Capital, Reporting, XBRL, Onegate, Filing Rules, Taxonomy, EBA, NBB
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