On 14 February 2020, the European Commission adopted an Implementing Regulation that amends Implementing Regulation (EU) No 680/2014 laying down implementing technical standards (ITS)  with regard to supervisory reporting of institutions according to the Capital Requirements Regulation, together with related annexes.

The Implementing Regulation makes certain changes to supervisory reporting requirements concerning:

  • Common reporting (COREP) to reflect the new securitisation framework and changes relating to the reporting of the liquidity coverage requirement in response to Delegated Regulation (EU) 2018/1620, which amends Delegated Regulation (EU) 2015/61; and
  • Financial information reporting (FINREP) on non-performing exposures and forbearance to provide for the monitoring of reporting institutions’ non-performing exposures strategies, the reporting requirements on profit and loss items and the implementation of International Financial Reporting Standard 16.

Our earlier blog on the European Banking Authority’s report on final draft ITS on supervisory reporting in regard to FINREP can be found here.

The Implementing Regulation enters into force on the day following its publication in the Official Journal of the EU. Certain provisions come into force on 1 April 2020 whereas other provisions apply from 1 June 2020.