Featured Product

    NBB Issues Reporting Updates and Retains CCyB at 0%

    October 24, 2022

    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.

     

    Related Links

     

    Keywords: Europe, Belgium, Banking, CCyB, Basel, Regulatory Capital, Reporting, XBRL, Onegate, Filing Rules, Taxonomy, EBA, NBB

    Featured Experts
    Related Articles
    News

    BCBS Consults on Guidelines for Counterparty Credit Risk Management

    The Basel Committee on Banking Supervision (BCBS) is seeking comments, until August 28, 2024, on guidelines for counterparty credit risk management of banks.

    May 21, 2024 WebPage Regulatory News
    News

    ISSB Releases Digital Sustainability Disclosures Taxonomy

    The themes of the harmonization and interoperability of sustainability disclosure standards among various jurisdictions remain at the top-of-mind for international standard-setting bodies.

    May 21, 2024 WebPage Regulatory News
    News

    BCBS Report Studies Implications of Digitalization of Finance

    The Basel Committee on Banking Supervision (BCBS) published a report that examines the implications of the digitalization of finance for banks and supervisors.

    May 21, 2024 WebPage Regulatory News
    News

    HKMA Publishes Hong Kong Taxonomy for Sustainable Finance

    The Hong Kong Monetary Authority (HKMA) published the Hong Kong Taxonomy for Sustainable Finance.

    May 21, 2024 WebPage Regulatory News
    News

    EU Taking Steps to Set Out and Enforce AI Regulations

    Many believe that the transformative power of generative artificial intelligence (GenAI) has potential to reshape the financial sector in the time to come.

    May 21, 2024 WebPage Regulatory News
    News

    BIS Paper Outlines Vision for Future Financial System

    In a recent paper, the General Manager of Bank for International Settlements (BIS) and the Indian entrepreneur (Infosys co-founder) Nandan Nilekani have laid out a vision for the Finternet, which is proposed to be a network of multiple financial ecosystems, much like the internet.

    April 29, 2024 WebPage Regulatory News
    News

    NGFS Outlines Options for Supervisory Review of Transition Plans

    The Network for Greening the Financial System (NGFS) recently published three reports on the use of transition plans to boost sustainable finance and manage climate-related financial risks.

    April 29, 2024 WebPage Regulatory News
    News

    BCBS Issues Discussion Paper on Climate Scenario Analysis

    The Basel Committee on Banking Supervision (BCBS) issued a discussion paper on the use of climate scenario analysis to strengthen the management and supervision of climate-related financial risks.

    April 29, 2024 WebPage Regulatory News
    News

    OSFI Issues Phase2 Consultation on Climate Scenario Exercise for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) recently announced a consultation on the second phase of the Standardized Climate Scenario Exercise (SCSE) for banks and other financial institutions it regulates in Canada.

    April 25, 2024 WebPage Regulatory News
    News

    CFIT to Chair Open Finance Taskforce Announced by UK Government

    The UK government announced the formation of an industry-led Open Finance Taskforce, chaired by the Center for Finance, Innovation, and Technology (CFIT).

    April 25, 2024 WebPage Regulatory News
    RESULTS 1 - 10 OF 8967