Featured Product

    BoE Seeks Information Before Migrating Statistical Reporting to BEEDS

    October 25, 2021

    The Bank of England (BoE) published the Statistical Notice 2021/09 requiring additional information from firms and software vendors to assist in the onboarding and testing phases for migrating statistical reporting to the BEEDS portal. BoE is requesting firms to submit the completed survey by October 29, 2021. Firms should complete separate surveys for their unconsolidated and consolidated reporting requirements, including your electronic reporting codes (OSCA codes) for each. Firms who only report Forms MM and MQ should also complete the survey. All firms can access the survey without the need for a password.

    BoE would also like to gauge interest in the first statistical reporting UAT window and which onboarding phase the entity is planning to use to join BEEDS. This information is required to ensure all statistical reporting firms are set up on BEEDS for two fundamental stages. The first stage includes the statistical reporting UAT window scheduled for November 15-26, 2021 while the second stage includes the statistical reporting on-boarding phases. The first onboarding phase is scheduled for March 2022 (ready to report end-March data in April 2022) while the second onboarding phase is scheduled for June 2022 (ready to report end-June data in July 2022). There is a separate SMMA Reporting Only section, which should also be completed by all unconsolidated firms. BoE is aware that the SMMA contacts may differ from the usual statistical contacts, so it urges firms to provide the correct SMMA reporting contacts (one Principle User and up to 9 Additional users) ahead of the end-December 2021 reporting round. If an entity reports for multiple firms and has multiple Electronic Reporting (OSCA) codes, it must complete separate surveys for each firm/reporting code. Software vendors that wish to participate in the November UAT window are requested to e-mail OSCA Queries to inform the regulator by 5 pm on October 29, 2021. 

    As per the Statistical Notice 2021/12, the  Statistics Taxonomy package and all accompanying documents have been republished as BoE has made a minor correction. Only the taxonomy package and change log files have been amended since v1.2.0. Version 1.2.1 of the Bank of England Statistics Taxonomy is a minor update to ensure row, column, and sheet codes are correctly identified within the label link-base files. The changes are limited to only -lab-codes.xml files and as such this update does not affect instance files generated against the taxonomy package. 

     

    Related Links 

    Keywords: Europe, EU, Banking, Reporting, BEEDS, Statistical Notice, Onboarding Phase, Testing Phase, Statistical Reporting, Migration to BEEDS, BoE

    Featured Experts
    Related Articles
    News

    APRA Sets LAC for D-SIBs, Proposes to Enhance Crisis Preparedness

    APRA issued a letter on the loss-absorbing capacity (LAC) requirements for domestic systemically important banks (D-SIBs) and published a discussion paper, along with the proposed the prudential standards on financial contingency planning (CPS 190) and resolution planning (CPS 900).

    December 02, 2021 WebPage Regulatory News
    News

    EC to Review Macro-Prudential Rules while ESRB Assesses Policy Stance

    The European Commission (EC) launched a call for evidence, until March 18, 2022, as part of a comprehensive review of the macro-prudential rules for the banking sector under the Capital Requirements Regulation (CRR) and Directive (CRD IV).

    December 01, 2021 WebPage Regulatory News
    News

    FSB Sets Out Good Practices for Crisis Management Groups

    The Financial Stability Board (FSB) published a report that sets out good practices for crisis management groups.

    November 30, 2021 WebPage Regulatory News
    News

    APRA Penalizes Heritage Bank for Incorrect Reporting of Capital

    The Australian Prudential Regulation Authority (APRA) found that Heritage Bank Limited had incorrectly reported capital because of weaknesses in operational risk and compliance frameworks, although the bank did not breach minimum prudential capital ratios at any point and remains well-capitalized.

    November 29, 2021 WebPage Regulatory News
    News

    OSFI Releases Annual Report 2021-2022

    The Office of the Superintendent of Financial Institutions (OSFI) released the annual report for 2020-2021.

    November 29, 2021 WebPage Regulatory News
    News

    OSFI Updates Timeline for Implementation of Certain Basel Rules

    Through a letter addressed to the banking sector entities, the Office of the Superintendent of Financial Institutions (OSFI) announced deferral of the domestic implementation of the final Basel III reforms from the first to the second quarter of 2023.

    November 29, 2021 WebPage Regulatory News
    News

    EC Defers Adoption of Regulatory Standards for Disclosures Under SFDR

    EIOPA recently published a letter in which EC is informing the European Parliament and Council that it could not adopt the set of draft regulatory technical standards for disclosures under the Sustainable Finance Disclosure Regulation (SFDR) within the stipulated three-month period, given their length and technical detail.

    November 29, 2021 WebPage Regulatory News
    News

    FCA Releases MIFIDPRU Application Forms and Third Set of Rules on IFPR

    The Financial Conduct Authority (FCA) published the third in a series of policy statements that set out rules to introduce the UK Investment Firm Prudential Regime (IFPR), which will take effect on January 01, 2022.

    November 29, 2021 WebPage Regulatory News
    News

    APRA Finalizes Capital Adequacy Standards for Banks

    The Australian Prudential Regulation Authority (APRA) published, along with a summary of its response to the consultation feedback, an information paper that summarizes the finalized capital framework that is in line with the internationally agreed Basel III requirements for banks.

    November 29, 2021 WebPage Regulatory News
    News

    CPMI-IOSCO Seek Comments on Access to Central Clearing and Portability

    The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) issued a consultative report focusing on access to central counterparty (CCP) clearing and client-position portability.

    November 29, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7751