Central Bank of Ireland (CBOI) Reporting

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AxiomSL provides all of the calculations, templates and reporting functionality needed for disclosures to the Central Bank of Ireland, including those introduced by the Capital Requirements Directive IV (CRD IV).

AxiomSL’s ‘one platform’ model means the same system can be used for all other regulatory reporting requirements, greatly reducing the cost and complexity of compliance.

Central Bank of Ireland reporting: The requirements and challenges

Financial firms in Ireland must send a wide variety of prudential and statistical reports to the Central Bank of Ireland, including those mandated by European authorities.

Capital Requirements Directive IV (CRD IV) reports are submitted to the Central Bank of Ireland, including Common Reporting (COREP), Financial Reporting (FINREP) and Liquidity Coverage Ratio (LCR) filings. Firms face a particular challenge to ensure they are using the most up-to-date versions of the European Central Bank’s (ECB) COREP and FINREP XBRL taxonomies, while retaining access to earlier iterations, which may be needed for resubmissions.

Detailed monetary and interest rate disclosures must be sent to the Central Bank of Ireland, as part of the ECB’s Balance Sheet Item (BSI) and Monetary Financial Institution (MFI) Interest Rate (MIR) reporting requirements. For firms, this involves reporting many new data items.

Financial firms in Ireland must also comply with a range of domestic statistical reporting requirements. This includes filing the Resident Offices Return (RS2), Survey of Credit Institutions Return (CRS2), Maturity and Sectoral Return (MTS), Revaluation Adjustment Return (RV2), Reclassification Adjustment Return (RC2) and Analysis of Lending and Deposits Return (SQ2).

Faced with so many different regulations, firms need an efficient approach to reporting that enables them to avoid duplicating work.

The AxiomSL solution

AxiomSL’s solution supports all of the regulatory calculations and reports that must be submitted to the Central Bank of Ireland.

The CRD IV Capital Calculations provided by AxiomSL are:

  • Calculation of exposure value
  • Large exposure identification
  • Large exposure reporting requirements
  • Limits to large exposures
  • Additional own funds requirements for large exposures in trading book
  • Large exposure exemptions
  • Exposures arising from mortgage lending
  • Exposure value exposure classes
  • Risk-weighted exposure amounts
  • Risk weight codes
  • Market to market
  • Volatility adjustments
  • Scaling op of volatility adjustment
  • Conditions for applying of 0% volatility adjustment
  • Financial collateral comprehensive method
  • Maturity mismatch (guarantees)
  • Valuation of protection
  • Master netting agreement
  • Unfunded credit protection
  • Alpha to calculate exposure value (IMM)
  • Effects of recognition of netting as risk-reducing
  • Application of scalar based on margin period of risk
  • Treatment of exposures to CCP
  • Own funds requirements for pre-funded contributions to the default fund of a CCP
  • Own funds requirements for pre-funded contribution to the defaults fund of a QCCP
  • Maturity (for CVA calculations)
  • CVA standardized method
  • Settlement/delivery risk
  • Free deliveries
  • Basic indicator approach
  • Standardized approach

The CRD IV market risk calculations provided by AxiomSL are:

Options

  • Delta
  • Delta plus non-continuous
  • Delta plus continuous
  • Scenario approach

Interest Rate

  • Underwriting
  • Netting
  • Interest rate risk on derivatives instruments – full offsetting
  • Net position in debt instruments
  • Allowance for hedges by credit derivatives
  • Maturity-based calculation of general risk
  • Duration-based calculation of general risk
  • Own funds requirement for non-securitization debt instruments
  • Own funds requirements for securitization instruments

Equity

  • Underwriting
  • Net positions in equity instruments
  • General risk of equity instruments
  • Specific risk of equity instruments
  • Stock indices

FX

  • Calculation of the overall net foreign exchange position
  • Closely correlated currencies
  • De minimis and weighting for foreign exchange risk

Commodity

  • Positions in commodities
  • Particular instruments
  • Maturity ladder approach
  • Extended maturity ladder approach

CIU

  • Basic Method

The solution leverages a firm’s existing data structure to quickly and accurately aggregate the required data from different lines of business. It reconciles the aggregated data back to its sources and uses it to run any necessary calculations before populating the templates that must be reported to the Central Bank of Ireland.

The solution checks all values in the reports are valid and performs reconciliations with disclosures made as part of other regulatory requirements. Users are given the ability to conduct plausibility and variance analysis. If tolerance levels are exceeded, they can make manual adjustments.

A dashboard allows users to monitor the entire reporting process. They can also drill down into the templates, calculations and source data they have used. Once satisfied with a report, users can sign off on it. The report will then be submitted to the Central Bank of Ireland in the required format, including the latest iteration of the EBA’s XBRL taxonomy.

AxiomSL monitors changes to the reporting requirements of the Central Bank of Ireland and European authorities on an ongoing basis and updates its templates as required. This relieves firms of onerous development work. Regulatory update releases like these are separate from software updates.

Version controls allow users to track changes to regulations and compare differences. The solution gives users ongoing access to earlier iterations of the EBA’s standard rules and XBRL taxonomy, which they need when rerunning or resubmitting reports.

The Central Bank of Ireland reporting solution is built on the same platform as all of AxiomSL’s other solutions. This ‘one platform’ approach ensures consistency between reports submitted for different regulations. It also reduces cost and complexity because firms do not need to maintain separate systems to comply with different regulations.

Key Benefits

  • A single platform that can be used not only for reporting to the Central Bank of Ireland, but also for all other regulatory reporting requirements globally
  • Automation of the entire reporting process
  • Ongoing monitoring of changes to report templates, and provision of updated versions
  • Separation of regulatory update releases and software releases
  • Drilldown from final reports to source data
  • Data loaded in any format
  • The ability to review and sign off on reports
  • Support for all report formats, including native XBRL functionality

AxiomSL's Central Bank of Ireland Reporting Solution

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AxiomSL | EMEA

+44 203 823 4600
info@axiomsl.com



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