On 21 August 2023, the European Central Bank (ECB) announced that it is consulting on a draft guide on financial conglomerate reporting of significant risk concentrations and intragroup transactions.

The draft guide aims to provide consistency, coherence, effectiveness, and transparency regarding the approach the ECB will take where it has been appointed coordinator for a financial conglomerate in accordance with the criteria set out in relevant EU law.

In particular, the guide aims to help financial conglomerates in setting up the necessary internal processes for reporting significant risk concentrations and intragroup transactions using the templates provided for in Commission Implementing Regulation (EU) 2022/2454 (which lays down implementing technical standards for the supervisory reporting of risk concentrations and intragroup transactions).

The deadline for feedback to this consultation is 6 October 2023.