Month: July 2013

CRD IV – Final Draft Templates Released

Posted on by Julie Duncan

On the 26th July the European Banking Authority released the ‘final draft’ set of templates and validations for CRD IV. This relates directly to the newest and final definition of the CRR which was released in June.

COREP has a number of significantly changed templates from the previous release. The Credit Risk reports now show more detail on the reporting of Small and Medium sized Enterprises (SME) while the Large Exposures reporting now shows an expected maturity profile breakdown as well as reporting the Counterparty information in a new template.

At ALMIS® International we are in the process of updating the internal version of the Data Point Model within the Regulatory Reporting Module. Once this is complete we will release an updated version of the module to all clients. This will include the automatic calculation of reports from the Capital Adequacy Module, and allow population of the new templates.

Please note that while this is the final draft there is a period of 3 months in which changes could be made. Additionally the updated taxonomies which allow correct XBRL generation have not been released yet, these are expected at the end of August. The first submission of COREP will be in April 2014. Firms should be prepared to submit the full XBRL submission at this time.

A Q&A tool is also now available on the EBA website and this should help us all interpret the new requirements.

If you have any questions on ALMIS® and the CRD IV Reporting regime please contact Virginia Hay or Georgina Macleod.

COREP Deadline Confirmed

Posted on by Julie Duncan

Formally confirmed on the 27th June 2013; CRD IV legislation has been formally published in the Official Journal of the EU. This affirms that the new legislation will come into effect from 1st January 2014.

As you may be aware, the CRD IV package adoption date has been subject to numerous delays. The original implementation date of 1st January 2013 was repeatedly pushed back due to the lengthy approval process involved in the finalisation of legislative text. The final content and template layouts are awaiting confirmation, additionally it has still not been confirmed if this submission will include the LCR, NSFR and Leverage Ratio.

Now that the date for COREP has been finalised, many financial institutions are now looking for a solution which will enable them to create, validate and submit the reports. The EBA require all firms to be in a position to submit returns in the standardised XBRL format for the first set of submissions starting on 1st January 2014.

ALMIS® International have developed a solution to help with the burden placed on financial institutions. The Regulatory Reporting functionality within the ALMIS® system is developed in line with these changes to ensure clients are best placed to meet the extensive regulatory demands placed upon them.

Many firms have placed their trust in ALMIS® to ensure their compliance for the new regulations. ALMIS® caters for a wide range of institutions’ requirements, from providing a basic submissions vehicle with manual inputs, to spreadsheet integration, all the way to full automatic population.

The ALMIS® Regulatory Reporting Module has been extensively developed to include an effective and time saving solution to FSA, CRD IV and BoE reporting. ALMIS® offers effective workflow management, validation routines and full audit trails to allow for efficient management and full compliance.