Jan. 8, 2025 Supervisory Reporting ITS IT Solutions Overview
On Jan. 8, 2025, EU EBA issued updated overview of the IT solutions (revised on that date) in connection with the Supervisory Reporting ITS Reg 2024/3117.
On Nov. 14, EBA issued opinion on EC proposed changes to EBA ITS.
EBA published an opinion in response to the EC's proposed amendments to the EBA final draft technical standards on supervisory reporting and Pillar 3 disclosures.
Also follows EBA Jul. 2024 update of supervisory reporting framework, see #218921.
Background
On Jun. 20, 2024, EBA submitted to EC, for adoption, draft implementing technical standards (ITS) on Pillar 3 disclosures, on Jul. 5, 2024 EBA also submitted for adoption its final ITS on supervisory reporting, EC intends to endorse these with amendments.
Submitted modified versions of both the ITS, upon which EBA now issues its opinion.
EBA Opinion
EBA acknowledges that EC's proposal provides some flexibility compared to current version of ITS and accepts it as an intermediate step, EBA and EC will continue to work together to better articulate and further operationalize both sets of ITS.
In final package submitted by EBA to EC earlier this year, only main body of ITS on public disclosures and supervisory reporting were meant to be published in EU Official Journal, templates and instructions were supposed to be accessible via EBA website.
EC proposed to re-include templates in normative package to be issued in the Journal.
In Opinion, EBA acknowledges EC's proposed changes still maintain some of the flexibility originally envisaged and agreed on under CRR3 mandates for the ITS.
Also notes original approach to keep both templates and instructions on EBA website only would be preferred as gives more flexibility in development of IT solutions.
Dec. 27, 2024 Supervisory Reporting ITS
On Dec. 27, 2024, EU CMSN issued final Reg 2024/3117 on supervisory reporting ITS.
Reg 2021/451 shall cease to apply from Jan. 1, 2025, except for Article 5(12) and Annex I, templates 18 to 24, and Annex II, Part II, points 5.1 to 5.7.
Article 15 of Reg 2021/451 shall continue to apply until Dec. 31, 2025, only for the purposes of Article 5(4) of Reg 2024/3117.
Reg 2021/451 is repealed with effect from Dec. 31, 2025; references to the repealed regulation shall be construed as references to this regulation and be read in accordance with the correlation table in Annex II.
Reg 2024/3117 shall enter into force on the day following that of its publication in the Official Journal of the European Union; it shall apply from Jun. 28, 2025.
Dec. 31, 2024 Pillar 3 Disclosures ITS
On Dec. 31, 2024, EU CMSN issued final Reg 2024/3172 on Pillar 3 disclosures ITS.
Reg 2021/637 shall cease to apply from Jan. 1, 2025, except for Article 15 and Annexes XXIX and XXX; Article 15 and Annexes XXIX and XXX shall continue to apply until Dec. 31, 2025, only for purposes of Article 16 of this regulation.
Implementing regulation 2021/637 is repealed with effect from Dec. 31, 2025.
Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of European Union, Jan. 20, 2025; it shall apply from Jan. 1, 2025.
Jan. 8, 2025 Supervisory Reporting ITS IT Solutions Overview
On Jan. 8, 2025, EU EBA issued updated overview of the IT solutions (revised on that date) in connection with the Supervisory Reporting ITS Reg 2024/3117.
