New EBA ITS Framework 2.9 and project EUCLID – what does it mean for European banks ?

The EBA ITS Framework 2.9, on which reporting will be based, will be implemented in several stages. The first part of the  EBA ITS Framework 2.9 is to take effect from December 31, 2019, which means that the first reporting can be expected in January 2020.

As you can read on the EBA website, the assumption of the project is to implement the reporting changes in reports: RES, Liquidity (LCR), Corep, Finrep, Benchmarking ITS. Additionally, the EBA informed that together with the Framework, the Funding Plans will also change.

The periods of publication of the new framework are presented in the following chart:

How will current reports change?

Resol:

  • changes in existing reporting requirements – corrections and additional templates

Corep:

  • Changes to align with new securitization framework

Finrep:

  • changes regarding reporting of exposures, profit and loss account
  • Integration of the remuneration package into DPM and taxonomy

Liquidity:

  • Changes to align with the LCR amending Act

Supervisory Benchmarking:

  • Changes to reporting requirements as specified in the ITS on supervisory benchmarking of internal models

Funding Plans:

  • Review of Guidelines on Funding Plans

 

Everything points to the fact that the EBA prepares us to fully integrate the EUCLID project. Which aims to increase transparency of European banks’ data, including through extend the collection of supervisory data from the current statistical sample consisting of the 200 largest banks in the EEA (European Economic Area) to the full range of individual banks and banking groups in the EEA. Each report will have to be sent in the technical standard required by EBA (EBA ITS, XBRL). That means all banks will be obliged to adapt to new requirements.

Implementing Technical Standard on resolution planning

Gathering accurate and relevant information about institutions is key for the resolution authorities, therefore, the European Banking Authority (EBA) consulted on changes to the Implementing Technical Standards (ITS) on information for resolution planning in 2019.

The main purpose of this changes is harmonization of data collections and facilitating data exchange within resolution colleges. The EBA recently has started preparations for the framework 2.9 release, which includes resolution plans reporting.

The first RES report should be submitted until 31st of May 2019.

Publication of the revised reporting requirements is expected on April 2019. Changes will come into force on December 2019.

All changes in reporting will be introduced for all aSISt users with the RESOL module.

 

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