Shearman & Sterling LLP | Financial Regulatory Developments Focus | European Banking Authority Proposes Revised Supervisory Reporting Technical Standards on Liquidity Coverage Requirement
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  • European Banking Authority Proposes Revised Supervisory Reporting Technical Standards on Liquidity Coverage Requirement
    08/28/2018

    The European Banking Authority has launched a consultation on proposed revisions to the Implementing Technical Standards that relate to supervisory reporting, under the common reporting, or COREP, framework, in line with the Liquidity Coverage Requirement, or LCR, under the Capital Requirements Regulation.

    The proposed revisions to the ITS are intended to reflect amendments made to an existing Delegated Regulation supplementing the Capital Requirements Regulation. These amendments were made by an Amending Regulation adopted by the European Commission in July 2018. The changes introduced by the Amending Regulation require the EBA to make related changes to the ITS on LCR reporting to capture the necessary elements for its calculation and monitoring. The revisions to the ITS relate mainly to the calculation of inflows and outflows in securities financing transactions and collateral swaps or the unwind waivers envisaged for some SFTs and collateral swaps with central banks. Further minor amendments are also proposed.

    Comments on the consultation are invited by October 26, 2018, using the "send your comments" button on the consultation webpage. The EBA will also hold a public hearing on the consultation proposals at its premises on October 10, 2018 from 11:00 to 12:30 UK time.

    The Amending Regulation adopted in July 2018 is in the process of being considered by the European Parliament and the Council of the European Union. The EBA intends to submit the final draft revised ITS once the three-month non-objection period to the Amending Regulation has passed. The first reference date under the revised ITS is expected to be the first end-month date after the application of the Amending Regulation.

    View the consultation paper

    View the consultation webpage

    View details of the Amending Regulation.

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