Implementing Technical Standards on Supervisory Reporting amendments with regards to FINREP | European Banking Authority. About UsThe EBA is an independent EU Authority which works to ensure effective and consistent prudential regulation and supervision across the European banking sector.

What are regulatory reporting requirements?

Regulatory reporting is the submission of data to a relevant authority in order to demonstrate compliance with the necessary regulatory provisions. In simpler terms, it is the process businesses and individuals must continually go through to show they are following all the rules.

What is FINREP and Corep?

While COREP is a capital reporting regime, FINREP is its financial counterpart. It is a framework given by EBA for reporting financial (accounting) information to the regulator which will be applicable to all Credit Institutions in the European Union.

Who is FINREP submitted to?

FINREP applies to credit institutions, banks and investment firms that are: Listed on a recognised stock exchange. Prepare their financial statements in accordance with International Financial Reporting Standards (IFRS); and. Subject to CRD IV so all credit institutions and some investment firms.

What is FINREP regulatory reporting?

What is FINREP? Financial Reporting (FINREP) aims to enhance the harmonisation in supervisory reporting. It applies to all credit institutions and investment firms (IFPRU Firms) across the EU that consolidate their financial reports based on IFRS.

Who needs to report COREP?

What you need to report to us. COREP applies to investment firms and covers various aspects of a firm’s operations that need to be reported to us, including own funds resources and requirements, large exposures, and leverage.

What are regulatory compliance requirements?

Regulatory compliance is an organization’s adherence to laws, regulations, guidelines and specifications relevant to its business processes. Violations of regulatory compliance often result in legal punishment, including federal fines.

What is emir reporting requirements?

EMIR mandates reporting of all derivatives to Trade Repositories (TRs). TRs centrally collect and maintain the records of all derivative contracts. They play a central role in enhancing the transparency of derivative markets and reducing risks to financial stability.

What is Pillar 3 disclosure?

Pillar 3 requires firms to publicly disclose information relating to their risks, capital adequacy, and policies for managing risk with the aim of promoting market discipline.

What is AnaCredit reporting?

AnaCredit (The Analytical Credit and Credit Risk Dataset), is a project from the European Central Bank (ECB) to create a shared database containing information on bank loans to companies. Credit institutions across the Eurozone will be required to report specific, standardized data on loans and other credits.

What is Corep regulatory reporting?

1. What is COREP? Common Reporting (COREP) is the standardized reporting framework issued by the European Banking Authority (EBA) for the Capital Requirements Directive reporting. It covers credit risk, market risk, operational risk, own funds and capital adequacy ratios.

How often is COREP submitted?

The frequency of reporting is to be quarterly as a maximum, with certain exceptions for allowing monthly reporting.

What is COREP regulatory reporting?

What is compliance law?

Compliance/legal compliance, then, can be defined as a set of processes and procedures within a specific program to ensure adherence to government regulation and laws.

What are Pillar 3 requirements?

What are the 5 Steps to compliance?

5 Steps to Ensure Compliance

  • Stay on track with changing laws and regulations. Compliant is not something your organization just is.
  • Involve specialists. Especially small and growing organizations may unintentionally break laws.
  • Ensure employees follow procedures.
  • Schedule regular internal audits.
  • Use the right software.

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