EBA欧洲银行-EBA-CP-2012-05CP-on-ITS-liquidity-reporting-_20页_447kb

EBA Consultation Paper Summary: Draft Implementing Technical Standards on Supervisory Reporting for Liquidity Coverage and Stable Funding

Core Content

This document outlines the EBA Consultation Paper (EBA/CP/2012/05), which proposes Draft Implementing Technical Standards (ITS) for supervisory reporting requirements related to liquidity coverage and stable funding under the Capital Requirements Regulation (CRR). The proposed standards aim to enhance regulatory harmonization across the European Economic Area (EEA) by providing uniform formats, frequencies, and dates for reporting, as well as IT solutions for data submission.

The consultation is open until 27 August 2012, and responses must be sent to CP-2012-5@eba.europa.eu with the subject reference 'EBA/CP/2012/05'. The EBA will consider all responses and may adjust the draft ITS in line with the final version of the CRR before submitting it to the European Commission (EC).

Main Features of the Draft ITS

1. Scope and Application:

   • Applies to credit institutions and investment firms.
   • Consolidated reporting applies to EU parent institutions and those controlled by EU parent financial holding companies.
   • Individual reporting applies to all authorized institutions.
   • Competent authorities may waive reporting for certain institutions under predefined conditions.

2. Reporting Frequency:

   • Monthly for liquidity coverage reporting.
   • Quarterly for stable funding reporting.

3. Data Collection:

   • The ITS is based on templates used by the EBA in its "Report on the Basel III monitoring exercise".
   • These templates are aligned with the CRR's requirements and include data on liquid assets, inflows, outflows, and stable funding.

4. IT Solutions:

   • The ITS includes guidelines for IT solutions to support data submission, ensuring consistency and comparability across institutions.

5. Consultation Questions:

   • Several questions for consultation are included, addressing the feasibility of reporting dates, the definition of significant currencies, and the inclusion of additional asset categories in reporting.

Key Requirements and Timelines

• Liquidity Coverage Reporting (LCR):

  • Reports are to be submitted by 15th calendar day after the reference date.
  • Reference dates are the last day of each month for monthly reporting and 31 March, 30 June, 30 September, and 31 December for quarterly reporting.
  • The first reporting period for LCR is expected to be January 2013, with the first reference date being end of January 2013.

• Stable Funding Reporting (SFR):

  • Reports are to be submitted quarterly, with the first reference date being end of March 2013.
  • Data must be categorized into five buckets based on the time horizon of the funding.

• Adaptability:

  • The EBA will adjust the ITS in line with the final CRR text before submission to the EC.
  • The timing of the ITS is aligned with the CRR's application date of 1 January 2013.

Regulatory Rationale and Objectives

• The CRR (Capital Requirements Regulation) is a key legislative framework that introduces liquidity coverage requirements (LCR) and stable funding requirements (SFR).
• The EBA is mandated to develop ITS under Article 481 of the CRR, which requires it to monitor and evaluate the impact of these requirements on institutions, financial markets, and the economy.
• The ITS are intended to be part of the single rulebook to improve regulatory convergence and supervisory efficiency across EEA countries.
• The format and frequency of reporting are designed to ensure data consistency and cross-border comparability.

Consultation Questions

1. Q1: Are the proposed dates for the first remittance of data (end of January and end of March 2013) feasible?
2. Q2: Do respondents agree with the proposal to define a significant currency as one that comprises more than 5% of an institution's liabilities?
3. Q3: Is the proposed remittance period of 15 days feasible?
4. Q4: Are there additional sub-categories of inflows and outflows that should be included in the template for liquidity coverage reporting?
5. Q5: What additional assets should the ITS collect to support guidance on high and extremely high liquidity and credit quality?

Background and Regulatory Context

• The CRR/CRD IV proposals, published in July 2011, aim to implement the Basel III framework in the EU.
• The EBA's draft ITS is based on the EC's endorsed CRR text, and will be revised if the final CRR changes.
• The ITS is part of a supervisory reporting framework that includes COREP and FINREP guidelines, which are already implemented in several Member States.

Legal Framework and Binding Nature

• The ITS are developed in accordance with Article 15 of the EBA Regulation and will be adopted as EU regulations.
• EU regulations are binding and directly applicable in all Member States, meaning they become part of national law upon entry into force.
• The use of Regulations ensures a level-playing field and cross-border consistency in supervisory reporting.

Conclusion

The EBA's draft ITS aim to provide uniform reporting standards for liquidity coverage and stable funding, aligning with the CRR and enhancing supervisory efficiency and data comparability. The consultation process seeks to refine the requirements based on stakeholder feedback and the final CRR text. The proposed reporting formats and frequencies are designed to support regulatory monitoring, risk assessment, and policy evaluation in the context of Basel III implementation.