Central Bank of Ireland (CBOI) Reporting Overview
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.
AxiomSL’s solution supports all of the regulatory calculations and reports that must be submitted to the Central Bank of Ireland.
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.
Central Bank of Ireland Reporting Solution Diagram
Central Bank of Ireland (CBOI) Reporting 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
Support for all report formats, including native XBRL functionality
Automation of the entire reporting process
Data loaded in any format
Ongoing monitoring of changes to report templates, and provision of updated versions
Drilldown from final reports to source data
The ability to review and sign off on reports
Separation of regulatory update releases and software releases
Central Bank of Ireland (CBOI) Reporting Credit Risk
Own funds requirements for pre-funded contributions to the default fund of a CCP
Exposure value exposure classes
Risk-weighted exposure amounts
Risk weight codes
Market to market
Scaling op of volatility adjustment
Conditions for applying of 0% volatility adjustment
Financial collateral comprehensive method
Maturity mismatch (guarantees)
Valuation of protection
Own funds requirements for pre-funded contribution to the defaults fund of a QCCP
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
Maturity (for CVA calculations)
CVA standardized method
Central Bank of Ireland (CBOI) Reporting Operational Risk
Basic indicator approach
Central Bank of Ireland (CBOI) Reporting Market Risk
The CRD IV market risk calculations provided by AxiomSL are:
Delta plus non-continuous
Delta plus continuous
Net positions in equity instruments
General risk of equity instruments
Specific risk of equity instruments
Positions in commodities
Maturity ladder approach
Extended maturity ladder approach
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
Calculation of the overall net foreign exchange position
Closely correlated currencies
De minimis and weighting for foreign exchange risk
Central Bank of Ireland (CBOI) Reporting Large Exposures
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
Central Bank of Ireland (CBOI) Reporting 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).
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