ECB publishes Regulation on supervisory financial information
Regulation extends supervisory financial reporting requirements to all supervised entities
Publication marks the end of the public consultation process
The European Central Bank (ECB) has today published an ECB Regulation on reporting of supervisory financial information.
The Regulation lays down the rules and procedures for the reporting of supervisory financial information by supervised entities to national competent authorities and the ECB. Institutions applying International Financial Reporting Standards (IFRS) at the consolidated level are already obliged to submit supervisory financial reports. The Regulation extends mandatory reporting to:
significant supervised groups applying national accounting rules (nGAAP);
significant supervised entities reporting on an individual basis under both IFRS and nGAAP (including branches of credit institutions not supervised under the Single Supervisory Mechanism but established in a participating Member State and subsidiaries of significant supervised groups in non-participating Member States or third countries);
less significant groups under nGAAP and less significant supervised entities.
The reporting covers balance sheet items, such as financial assets and financial liabilities, income and expenses and other relevant supervisory financial data.
The Regulation was approved by the ECB’s Governing Council following a public consultation including a public hearing. It reflects comments received from interested parties during the public consultation. These responses, along with a feedback statement, and the ECB Regulation are also published on the ECB’s banking supervision website.
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