Recent regulatory changes for financial institutions that impact reporting in your region — highlighted by AxiomSL’s subject-matter experts.
North America
Federal Reserve Board- FR Y-9, FR 2886b, FR Y-14A/Q/M, FR 2900, FR 2915, FR Y-14M FR Y-14A/Q, FR 2314 / FR 2314S, FR 2886b, FR Y-7N / FR Y-7NS, FR Y-9ES and more
December 24, 2020 – January 7, 2021 - FR Y-9 – Reporting Series. FR 2886b - Consolidated Report of Condition and Income for Edge and Agreement Corporations. Final Federal Register notice was posted...
Agencies – Final Rule – Regulatory Capital Treatment for Investments in Certain Unsecured Debt Instruments of Global Systemically Important U.S. Bank Holding Companies, Certain Intermediate Holding Companies, and Global Systemically Important Foreign Banking Organizations; Total Loss-absorbing Capacity Requirements (TLAC)
January 6, 2021 - The Agencies are adopting a Final Rule that applies to advanced approaches banking organizations with the aim of reducing both interconnectedness within the financial system...
FINRA – Proposed Rule Change to Amend the FINRA Rule 6800 Series (Consolidated Audit Trail Compliance Rule) Relating to Allocation Reporting Requirements
January 5, 2021 - FINRA filed with the SEC proposed rule changes to amend the FINRA Rule 6800 series. Consolidated audit trail compliance rule...
CFTC – Interim Final Rule & Request for Comment – Portfolio Reconciliation Requirements for Swap Dealers and Major Swap Participants-Revision of “Material Terms” Definition
January 5, 2021 - CFTC interim final rule to avoid disruption in portfolio reconciliation for SDs and MSPs. Objective is to move current language...
CFTC – Final Rule – Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
January 5, 2021 - The CFTC is adopting amendments to its margin requirements for uncleared swaps for swap dealers (SDs) and major swap participants (MSPs)...
CFTC – CFTC Staff Grants Two Separate Temporary No-Action Relief to Derivatives Clearing Organizations (DCO) and Futures Commission Merchants (FCM)
January 4, 2021 - CFTC granted temporary no-action relief in two separate decisions, 21-01 and 21-02, for DCOs from amended daily reporting obligations and FCMs regarding certain...
SEC – Proposed Rules – Regulation Alternate Trading Systems for ATSs that Trade Government Securities, National Market System Stock, and Other Securities; Regulation SCI for ATSs that Trade U.S. Treasury Securities and Agency Securities; and Electronic Corporate Bond and Municipal Securities Markets
December 31, 2020 - The SEC is proposing amendments to Regulation ATS under the Securities Exchange Act of 1934 for alternative trading systems (ATSs)...
Agencies – Resolution Plan Submissions of Certain Foreign-Based Covered Companies
December 22, 2020 - The Agencies are adopting this final guidance for the 2021 and subsequent resolution plan submissions by certain foreign banking organizations (FBOs)...
FRB – Releases second round of Bank Stress Test results
December 18, 2020 - FRB released second round of bank stress test results and extended capital restrictions. Given economic uncertainty that remained from COVID-19...
FRB – Votes to affirm the Countercyclical Capital Buffer (CCyB) at the current level of 0 percent
December 18, 2020 - To facilitate financial system's resiliency by raising large banks' capital requirements. Potentially implemented if acute, increased risk of higher than expected future losses...
Europe, the Middle East and Africa
EBA Published Final Draft RTS on Treatment of Non-Trading Book Positions Subject to Foreign Exchange Risk or Commodity Risk under FRTB
December 03, 2020 -The EBA Published Final Draft RTS on Treatment of Non-Trading Book Positions Subject to Foreign Exchange Risk or Commodity.....
The Bank of England Moves Data Collection from OSCA to BEEDS
November 25, 2020 -The BoE’s Data and Statistics Division (DSD) is planning to move the data collection from the OSCA to the BEEDS.....
ESAs Consult on the Reporting of Intra-Group Transactions and Risk Concentration for Financial Conglomerates
November 18, 2020 -The EBA, EIOPA and ESMA consult on the reporting of intra-group transactions and risk concentration for Financial Conglomerates....
FCA Published Joint Statement on IFPR and Basel III
November 16, 2020 - The FCA and the PRA published a joint statement on changes in the planned timelines for introducing the UK’s IFPR....
ACPR Published Draft Version of RUBA Taxonomy v1.00
November 11, 2020 -The ACPR published RUBA v1.0.0 PWD2 (draft version) which will replace the SURFI taxonomy (Surfi Principale v1.23 and annexes)....
DNB Published BSI Taxonomy v2.0.0
October 28, 2020 -De Nederlandsche Bank (DNB) published a new Balance Sheet Items (BSI) taxonomy version 2.0.0 applicable from 2022…
FCA Discusses Prudential Requirements for MiFID Investment Firms
August 21, 2020 -The FCA published Discussion Paper DP20/3: Prudential requirements for MiFID investment firms which introduces a set of prudential rules...
PRA Published a Statement on EBA Guidelines on Covid-19 Disclosures
July 10, 2020 - PRA published a 'Statement on EBA Guidelines on reporting and disclosure of exposures subject to measures applied in response…
Bundesbank Published a Draft Version of RTF Taxonomy 2.00
July 22, 2020 - The Bundesbank published a draft version of the new XBRL taxonomy for Risk-bearing capacity (RTF - Risikotragfähigkeit) reporting according…
RUBA Taxonomy to Apply from January 2022
July 10, 2020 - ACPR announced that the effective date of RUBA taxonomy will be aligned to the MFI balance sheet statistics…
Asia Pacific
APRA to recommence public consultations on select policy reforms and begin a phased resumption of the issuing of new licenses
Aug 10, 2020 - APRA to recommence public consultations on select policy reforms and begin a phased resumption of the issuing of new licenses..
APRA issues guidance to ADIs on long term planning of capital management
Jul 29, 2020 - APRA issues guidance to ADIs on long term planning of capital management..
Taiwan Central bank increased the maximum amount of bank loans for SMEs
Jul 22, 2020 - Taiwan Central bank increased the maximum amount of bank loans for SMEs...
JFSA issued finalized ordinance in regards to asset managers support
Jul 22, 2020 - JFSA issued finalized ordinance in regards to asset managers support..
CRS submissions for Indonesia have been delayed
Jul 20, 2020 - CRS submissions for Indonesia have been delayed ...
South Korea issued amendments to the FATCA and CRS regulations
Jul 20, 2020 - South Korea issued amendments to the FATCA and CRS regulations...
HKMA highlighted Basel revision to CVA framework
Jul 14, 2020 - HKMA highlighted Basel revision to CVA framework..
APRA has provided additional guidance on the temporary capital treatments to loans granted repayment deferrals
Jul 9, 2020 - APRA has provided additional guidance on the temporary capital treatments to loans granted repayment deferrals..
HKMA confirmed that the March 2020 reduction of the Countercyclical buffer remains unchanged
Jul 7, 2020 - HKMA confirmed that the reduction of the Countercyclical buffer remains unchanged..
FSC issued rules on disclosure of capital adequacy
Jul 6, 2020 - FSC issued rules on disclosure of capital adequacy...
Latin America
CNBV – RESOLUTION that modifies the general provisions for Credit Institutions
December 7, 2020 - The entry into force of transitory articles FIRST, THIRD, FIFTH, SEVENTH, EIGHTH, NINTH and TENTH is modified; and REPEAL the...
CNBV – Resolution modifying the general provisions applicable to Credit Institutions.
November 19, 2020 - In order to align with the standards of the Basel Committee, and that credit institutions have a more precise and...
CNBV – Format to inform the signing of information exchange agreements
November 13, 2020 - Entities that are part of financial groups in terms of the Law to Regulate Financial Groups may exchange information with...
BANXICO – New section in RC´S reports
November 13, 2020 - According to what is published in the supporting document for the generation of RC's of Banco de Mexico, this section...
BCRA – Adaptations to the financing line for the productive investment of MSMEs
November 12, 2020 - BCRA establishes the operational guidelines for the granting of the productive investment line of MiPyMe, the required financing, also establishes...
BANXICO – Update to the document “FORMULARIO ACLME-PD”
October 29, 2020 - As part of the process of updating circular 3/2012 “ACLME – PD", Banco de México issued new rules for the generation...
BANXICO – Circular 38/2020
October 9, 2020 - Banco de México has modified from article 2 the subparagraphs a) and f) of the definition of Money Market Assets...
BCRA Communication “A” 7126 Ref: Circular CAMEX 1 – 864
October 2, 2020 - The BCRA adopted the following resolution through Communication "A" 7126: 1) Establish the prior agreement of this BCRA for access...
BCRA Communication “A” 7123 Ref: Circular CAMEX 1 – 863
October 1, 2020 - The BCRA adopted the following resolution effective as of October 2, 2020 through Communication "A" 7123: 1) Introduces changes in...
CNBV New Package of Measures for Credit Restructuring
September 23, 2020 - The CNBV agreed to promote new measures to protect the economy of individuals and companies, with the aim of reducing...