European Commission issues Implementing Technical Standard (ITS) – EBA Reporting framework 2.7 (DPM 220.127.116.11) for application as of 31 March 2018, the changes apply to the reporting of banks and financial institutions
On 9 November 2017, the European Commission issued the Implementing Technical Standard (ITS) amending Implementing Regulation (EU) No 680/2014. The Implementing Regulation was published in the Official Journal (OJ) of the European Union on 6 December 2017 and becomes binding 20 days after publication.
Commission Implementing Regulation
- EBA website on XBRL Taxonomies and DPM models for ITS reporting
- The ITS reporting requirements will apply to credit institutions with effect from 1 March 2018. For fulfilment of the reporting requirements, EBA Reporting framework version 2.7 (DPM 18.104.22.168.) is to be used.
Reporting framework 2.7 provides an update of the validation rules, table names and structures of reporting framework 2.6 (DPM 2.6). In addition, there are some changes reflecting decisions based on the outcome of the EBA’s Q&A process.
Furthermore, the European Banking Authority EBA also published a corrective update to the Implementing Technical Standard (ITS) on 15 November 2017. The corrective update (22.214.171.124) contains minor changes to the XBRL taxonomy and supplements and corrects the taxonomy version 2.7 released earlier.
Compared to taxonomy version 2.7, the changes in taxonomy version 126.96.36.199 include an updated XBRL taxonomy, a corrected EBA Validation Rules spreadsheet, an updated DPM database, and an annotated table layout corrections for C 17.01.
- EBA press release (DPM 188.8.131.52 changes vs. DPM 2.7)
In addition, the following revisions are forthcoming:
Financial reporting framework (FINREP) to be updated with the changes following adoption of IFRS 9
The changes to the financial reporting framework (FINREP) are mostly related to IFRS9, which will take effect at the beginning of 2018. This new Standard on Financial Instruments is reflected especially in the FINREP tables on financial instrument categories, impairments and hedge accounting.
The first reporting reference date for the revised FINREP tables is 31 March 2018.
Tables for Additional liquidity monitoring metrics (ALM) revised
The COREP ALM changes mainly relate to the new table C 66.01. This table will be used for the first time for the reporting reference date 31 March 2018.
Minor individual changes have been made to other tables of the COREP ALM framework and the guidance has been specified in response to the questions arising in the course of the Q&A process, with the aim of bringing the definitions of COREP ALM in line with the definitions of the Commission LCR Regulation.
New table C 33.00 for reporting government exposures
A new table, COREP 33.00, for government exposures will be introduced, with effect from 31 March 2018. The report will be submitted every six months, with the first reporting reference date set to 30 June 2018.
Changes to tables for reporting operational risks
The Implementing Regulation includes amendments to the provisions on reporting loss data on operational risks. Table C 17.00 has been eliminated and replaced by tables C 17.01 and C 17.02. Table C 17.01 corresponds to the former table C17.00, but has been specified e.g. to the effect that details of loss data for the latest reporting period are kept separate from loss data for previous periods.
Table C 17.02 is used for reporting detailed data on the largest loss events in excess of EUR 100,000. The requirement to report loss events will, hereinafter, also apply to significant institutions that have adopted the Foundation Approach to calculating capital requirements for operational risk.
We will not make any amendments to the provisions on the annual report on losses from operational risk (the five largest loss events in excess of EUR 10,000) based on the FIN-FSA's Regulations and Guidelines (8/2014) on management of operational risk in supervised entities of the financial sector.
A demo version of the Q1/2018 reporting applications and workbooks, including FINREP 9, was made available in the Jakelu Distribution Service on 30 November 2017. The estimated date of release of the production version in the Jakelu Distribution Service is March 2018. We will let you know when the production version is available.
For further information, please contact
- FINREP: Sinikka Taskinen, Financial Analyst, tel. +358 9 183 5239, email sinikka.taskinen(at)fiva.fi
- ALM: Tomi Halme, Risk Specialist, tel. +358 9 183 5233, email: tomi.halme(at)fiva.fi
- Reporting of government exposures: Tülin Bedretdin, Chief Banking Inspector, tel. +358 9 183 5429, email tylin.bedretdin(at)fiva.fi
- OPR: Erja Pullinen, Risk Specialist, tel. +358 9 183 5358, email: erja.pullinen(at)fiva.fi