Supervision release 17 February 2021 – 6/2021

Amendments to FIN-FSA Regulations and guidelines Common European Reporting (COREP) and Regulations and guidelines related to the Capital Requirements Regulation

Amendments have been made to FIN-FSA Regulations and guidelines 26/2013 Common European Reporting (COREP) and 5/2019 Regulations and guidelines related to EU Capital Requirements Regulation.

FIN-FSA Regulations and guidelines 26/2013 have been amended as follows:

  • included as part of the FIN-FSA Regulations and guidelines: Guidelines on supervisory reporting and disclosure requirements in compliance with CRR “quick fix” in response to the COVID‐19 pandemic (EBA/GL/2020/11), issued by the European Banking Authority on 11 August 2020.
  • added: Regulation on the submission of information concerning remuneration in accordance with the EBA’s new reporting framework.
  • updated: Regulations and guidelines to correspond with the FIN-FSA’s current Regulations and guidelines format.

FIN-FSA Regulations and guidelines 5/2019 have been amended as follows:

  • included as part of the FIN-FSA Regulations and guidelines: Guidelines on supervisory reporting and disclosure requirements in compliance with CRR “quick fix” in response to the COVID‐19 pandemic (EBA/GL/2020/11), issued by the European Banking Authority on 11 August 2020.
  • included as part of the FIN-FSA Regulations and guidelines: Guidelines amending Guidelines on uniform disclosures under Article 473a of Regulation (EU) No 575/2013 (CRR) on the transitional period for mitigating the impact of the introduction of IFRS 9 on own funds to ensure compliance with the CRR “quick fix” in response to the COVID-19 pandemic (EBA/GL/2020/12), issued by the EBA on 11 August 2020.
  • included as part of the FIN-FSA Regulations and guidelines: Guidelines on the treatment of structural FX positions under Article 352(2) of Regulation (EU) No 575/2013 (Capital Requirements Regulation) (EBA/GL/2020/09), issued by the EBA on 1 July 2020.
  • included as part of the FIN-FSA Regulations and guidelines: Guidelines on credit risk mitigation for institutions applying the IRB approach with own estimates of LGDs (EBA/GL/2020/05), issued by the EBA on 6 May 2020.
  • included as part of the FIN-FSA Regulations and guidelines: Guidelines on the determination of the weighted average maturity of contractual payments due under the tranche of a securitisation transaction in accordance with point (a) of Article 257(1) of Regulation (EU) No 575/2013 (EBA/GL/2020/04), issued by the EBA on 4 May 2020.
  • revised a new definition of default and deleted paragraphs related to the old definition from chapter 7 Capital requirements for credit risk under the internal ratings based approach.

Entry into force of the amendments

The amendments to the regulations and guidelines will enter into force on 1 March 2021.

For further information, please contact

Regulations and guidelines 26/2013: 

  • Jussi Eronen, Senior Reporting Expert, telephone +358 9 183 5234 or jussi.eronen(at)fiva.fi

Regulations and guidelines 5/2019:

  • Taina Erovaara-Williams, Senior Regulatory Expert, telephone +358 9 183 5422 or taina.erovaara-williams(at)fiva.fi

Appendices