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Reporting of supervisory financial information

Reporting of supervisory financial information

 

SUMMARY OF:

Regulation (EU) 2015/534 on reporting of supervisory financial information

WHAT IS THE AIM OF THE REGULATION?

Regulation (EU) 2015/534 lays down rules and procedures, as well as the format and frequency, for the reporting of supervisory financial information by supervised banks and groups of supervised banks to national competition authorities and to the European Central Bank (ECB).

KEY POINTS

In the EU, supervised banks (‘entities’) are subject to regular financial reporting requirements. Regulation (EU) 2015/534 specifies the requirements concerning the reporting of supervisory financial information by supervised entities to the national competent authorities and the ECB in the context of the Single Supervisory Mechanism (SSM), the system of financial supervision composed of the ECB and national competent authorities of participating EU countries.

The addressees of the regulation are:

  • significant supervised entities — banks and banking groups that, according to the SSM framework regulation, meet at least one of the following criteria and are directly supervised by the ECB:
    • total assets exceed €30 billion,
    • economically important for their country or the EU as a whole,
    • total assets of over €5 billion and cross-border assets and liabilities above 20%,
    • have requested or received funding from the European Stability Mechanism or its predecessor, the European Financial Stability Facility,
    • are one of a country’s three most significant banks;
  • less significant entities — banks and banking groups that meet none of the criteria and are supervised by their national authorities subject to ECB oversight.

National competent authorities (NCAs):

  • set the deadlines for the reporting of financial information by supervised entities to them;
  • monitor and ensure the quality and reliability of the information they submit to the ECB in a uniform technical format;
  • may use the data they collect under the regulation for other tasks.

FROM WHEN DOES THE REGULATION APPLY?

Regulation (EU) 2015/534 has applied since 1 April 2015.

BACKGROUND

The ECB is responsible for the effective and consistent functioning of the whole system of European banking supervision, which comprises the ECB and the national banking supervisors of the participating countries. The main aims of this supervision are to:

  • ensure the safety and soundness of the European banking system;
  • increase financial integration and stability;
  • ensure consistent supervision.

European banking supervision is one of the two pillars of the EU banking union, along with the Single Resolution Mechanism.

The ECB oversees all significant and less significant banks in the participating countries through direct and indirect supervision.

MAIN DOCUMENTS

Regulation (EU) 2015/534 of the European Central Bank of 17 March 2015 on reporting of supervisory financial information (ECB/2015/13) (OJ L 86, 31.3.2015, pp. 13-151)

Successive amendments to Regulation (EU) 2015/534 have been incorporated into the original text. This consolidated version is of documentary value only.

RELATED DOCUMENTS

Regulation (EU) 2020/605 of the European Central Bank of 9 April 2020 amending Regulation (EU) 2015/534 on reporting of supervisory financial information (ECB/2020/22) (OJ L 145, 7.5.2020, pp. 1-334)

Commission Implementing Regulation (EU) No 680/2014 of 16 April 2014 laying down implementing technical standards with regard to supervisory reporting of institutions according to Regulation (EU) No 575/2013 of the European Parliament and of the Council (OJ L 191, 28.6.2014, pp. 1-1861)

See consolidated version.

Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (SSM Framework Regulation) (ECB/2014/17) (OJ L 141, 14.5.2014, pp. 1-50)

Decision 2014/477/EU of the European Central Bank of 2 July 2014 on the provision to the European Central Bank of supervisory data reported to the national competent authorities by the supervised entities pursuant to Commission Implementing Regulation (EU) No 680/2014 (ECB/2014/29) (OJ L 214, 19.7.2014, pp. 34-37)

See consolidated version.

Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (OJ L 287, 29.10.2013, pp. 63-89)

Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, pp. 338-436)

See consolidated version.

Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, pp. 1-337)

See consolidated version.

Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards (OJ L 243, 11.9.2002, pp. 1-4)

See consolidated version.

last update 30.10.2020

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