The European Central Bank (ECB) has published a consultation paper on amendments to the ECB Regulation on reporting of supervisory financial information (Regulation).
The ECB proposes to amend the Regulation to reflect the European Banking Authority’s proposed amendments to Commission Implementing Regulation (EU) No 680/2014 on supervisory reporting of institutions with regard to financial reporting (FINREP) and the experience gained since the Regulation was first implemented on 31 December 2015.
- the references to FINREP templates 4.2, 4.3, 4.4, 5, 6, 9.1, 16.4 in Annex I on simplified supervisory financial reporting and Annex II on over-simplified supervisory financial reporting of the Regulation should be replaced by references to the new FINREP templates 4.2.1, 4.2.2, 4.3.1, 4.4.1, 5.1, 6.1, 9.1, 9.1.1, 12, 12.1, 16.3 and 16.4. Changes to the names of the templates should also be incorporated; and
- Annex IV (FINREP data points under the International Accounting Standards (IFRS) or National Generally Accepted Accounting Principles (National GAAP) compatible with IFRS) and Annex V (FINREP data points under National GAAP not compatible with IFRS) of the Regulation should also be updated owing to changes to Annexes III and IV of Commission Implementing Regulation (EU) No 680/2014.
The ECB proposes that the amendments should apply from 1 January 2018, although a 12-month transition period will be granted to less significant institutions that apply National GAAP. For these institutions, the date of application will be 1 January 2019.
The deadline for comments on the consultation paper is 27 March 2017.
View ECB consults on amendments to Regulation on reporting of supervisory financial information, 17 February 2017