Use of the Guidelines on Common Reporting -CoRep

Use of the Guidelines on Common Reporting General Information Date of first application Roll-out strategy Official published version of the national reporting framework Foreseeable date for final application Basic frequency for the reporting Descriptive information about the approach followed by the national authorities regarding the solvency reporting Specifities of implementation: Type of institutions (size, activities…) Type of carried out supervision Type of accounting framework used Use of XBRL Version of the CEBS taxonomy Detailed Information CA and Group Solvency CA-Solvency Ratio Overview Group Solvency Details Credit Risk CR SA: Credit and counterparty credit risks and free deliveries: Standardised Approach to Capital Requirements CR IRB: Credit and counterparty credit risks and free deliveries: Internal Rating Based Approach to Capital Requirements CR EQU IRB: Credit risk: Equity: Internal Rating Based Approaches to Capital Requirements CR SEC SA: Credit risk: Securitisation: Standardised Approach to Capital Requirements CR SEC IRB: Credit risk: Securitisation: Internal Rating Based Approach to Capital Requirements CR SEC Details: Credit risk: Detailed information on securitisations by originators and sponsors CR TB SETT: Settlement/Delivery Risk in the Trading Book Market Risk MKR SA TDI: Market Risk: Standardised Approach for Position Risks in Traded Debt Instruments MKR SA EQU: Market Risk: Standardised Approach for Position Risks in Equities MKR SA FX: Market Risk: Standardised Approaches for Foreign Exchange Risk MKR SA COM: Market Risk: Standardised Approaches for Commodities MKR IM: Market Risk: Internal model MKR IM Daily: Market Risk Internal Model Details Operational Risk OPR: Operational Risk OPR Details: Operational Risk: Gross Losses by Business Lines and Event Types in the last year OPR LOSS Details: Major Operational Risk Losses recorded in the last year or which are still open Other information institutions are required to report as part of solvency reporting AT BE 3/31/2007 01-01-07 roll-out total http://www.ris.bka.gv.at/ PPB-2007-3-CPB-spreadsheet 01-01-08 N/A M Q legal requirements to be reported on a monthly basis, The prudential supervision with regard to the solvency additional information on a quarterly basis; solvency requirements is based on these reports. An additional reporting according to §§ 74 and 79 para 2 Austrian template for large exposures is requested. Banking Act (ABA) Reporting is applicable to credit institutions, investment firms, settlement institutions and financial All banks according to § 1 Austrian Banking Act (ABA), holdings. Frequency of reporting can vary for different further specifities are defined in § 3 ABA types of institutions (credit institutions, investment firms) Both Solo and consolidated National GAAP / IFRS BGAAP and IFRS No (XML is possible from now on in accordance with the industry's needs and will be discussed) Yes, compulsary Belgian extension of COREP version 1.2.3 Fully Fully Fully Fully Fully Partially Fully Fully Fully Partially Partially Partially Fully Fully Fully Partially Fully Fully Partially Fully Fully Partially Fully Fully Partially Fully Not applied Partially Partially Partially Not applied Fully Fully Fully Partially Partially http://www.fma.gv.at/cms/site/DE/ Additional templates BG CY 3/31/2007 12/31/2006 total total Regulatory Reports on Ordinance No. 8 Circular on the implementation of the COREP 3/31/2007 N/A S Semi-annually The framework is used for supervision both on a solo and on a consolidated level. On a solo basis, a quarterly reporting frequency will apply. XBRL use does not feature reliable initial date. In view of the fact that the information included in the COREP templates will not be available from other returns / sources, the Central Bank of Cyprus has decided to proceed with the full implementation of the COREP templates. The COREP templates will replace the existing return of capital adequacy which is submitted under CAD requirements. Banks Credit Institutions (for investment firms the relevant authority has not yet finalised its decision) Solo and Consolidated none IFRS none Planned N.A Yes, optional Version 1.2 Release 4 dated 2007-04-20 Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully TBDP None CZ DE 1/1/2007 7/1/2007 total total National reporting framework (only in Czech language) [dd-mm-yy] http://www.bafin.de/verordnungen/solvv_anl3.zip 1/1/2007 M - solo, Q - consolidated for credit institutions Q - investment firms Q Basically, the majority of core items and selected detailed items of proposed tables were incorporated into national reporting framework. CEBS' templates under the Common Reporting Framework (COREP) have been converted into the templates that institutions must use for on-going supervisory reporting to BaFin und Deutsche Bundesbank. Many of the cells that CEBS has classified as core information have been adopted for the domestic reporting framework; the cells that CEBS has classified as detailed information have been adopted only to a limited extent. The new reporting framework is implemented for banks and investement firms. The saving cooperatives submit only limited set of tables corresponding to their limited activities. all The same reporting framework is used for both solo and consolidation version. Bank is obliged to submit data on bank and on consolidated group (if relevant) excl. insurance companies. all institutions are subject to the same system of supervision in which the concept of proportionality is of course embedded. From 2005 banks, their securities are admitted to trading on a regulated market of any Member State, shall prepare their consolidated accounts in conformity with IAS. They shall apply IAS on the individual level as well. The rest of banks has the option to use IAS or Czech accounting standards for consolidated financial statements, but on the individual level they shall continue applying Czech accounting standards. The Czech accounting standards are very similar to IAS and EU Directive incl. amendments but they are less detailed. They follow accounting methods used in IAS with the exception of goodwill and leasing, i.e. Czech accounting standards include the same methods and principles for recognition, derecognition and valuation financial instruments (incl. derivatives) as IAS. IFRS, where applicable, otherwise German GAAP No [Namespace] Yes, optional Version 1.2.2 Partially Not applied Partially Partially Partially Not applied Not applied Fully Not applied Partially Partially Partially Partially Partially Not applied Not applied Partially Partially Partially Not applied Not applied Not applied Fully Not applied Partially Fully Partially Not applied Not applied Not applied Not applied Partially Not applied Fully Not applied Not applied Following information supplemented reporting on capital adequacy is collected: a) information on capital requirements on credit risk (ie. RWA, conversion, credit risk on trading portfolio) calculated under Basel 1 and overview of capital requirements under Basel 1 (only in 2007), b) asset and liabilities structure by currencies. [Include link] DK 6/30/2007 EE 4/1/2007 Total roll-out Our reporting framework is not yet published on our web-side http://www.eestipank.info/pub/en/dokumendid/doku mendid/oigusaktid/maaruste_register/_307.html?o bjId=962955&metadata=yes&content=yes 4/1/2007 6/30/2007 Quarterly Monthly Most of the Danish reporting is based on a minor part of the information in the COREP templates. For the solvency ratio overview template and templates concerning market risk we have however developed our own templates. Some information is asked on a monthly basis for certain investment firms. None None None No Not applicable No N/A Not applied Not applied Fully Not applied Partially Partially Partially Partially Partially Fully Fully Fully Not applied Not applied Not applied Not applied Not applied Partially Not applied Not applied Not applied Not applied Not applied Not applied Fully Not applied Not applied Partially Partially Partially Partially Not applied Not applied Fully Not applied Not applied [Include link] N/A EL 01-01-08 Total Provisionally published version: http://www.bankofgreece.gr/epopteia/cebs/Plans1.asp 01-01-08 Quarterly Solvency reporting of credit institutions is primarily based on the COREP formats as implemented nationally by the Bank of Greece. In addition to COREP, other periodic reports/templates that may be used to determine solvency are : the large exposures and double gearing reports, the minimum supervisory loan-loss provisions report and the detailed trading book positions report. All credit institutions (as defined in the banking law (article 2 § 1a of Law 3601 of 2007) are required to file with the Bank of Greece the COREP reporting formats as described in the detailed information part below. (Investment firms however file with the separate competent authority [http://www.hcmc.gr] the COREP formats as implemented by the latter authority) The same regulatory reporting requirements (including the COREP formats) are applicable to all credit institutions while the principle of proportionality applies, with regard to periodic reporting, on supervised financial institutions (that do not meet the credit institution definition) ; regulatory reports filed with the Bank of Greece are not audited by external auditors but may be reviewed by BoG examiners during on site inpections; IFRS ; national GAAPs in the case of cooperative banks (as well as some investment firms) No Fully Not applied Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Not applied information on large exposures, double gearing, minimum loan loss provisions for supervisory purposes and detailed trading book positions ES Not finalised yet (Caveat: All the information provided below is provisional and based on our current implementation plans; therefore, it may be subject to future changes.) Total FL 3/31/2007 Total www.bde.es http://www.rahoitustarkastus.fi/COREP 1/1/2008 N/A S Q Periodical requested information regarding solvency is based on the national implementation of the COREP templates and on additional templates covering: (1) solvency and accounting interface, (2) large exposures, (3) interest rate risk in non-trading activities and (4) capital adequacy of financial conglomerates. Banco de España may also require, on a general or individual basis, as much information as needed for clarification or detail of the templates mentioned above. Furthermore, Banco de España may request to particular entities and for well-justified reasons, the periodical submission of certain developments or details of the abovementioned templates. All the information provided by Banco de España relates only to the solvency reporting by credit institutions. The basic frequency for the reporting is annual for individual credit institutions belonging to a consolidated group. Also, even though the basic frequency for the reporting of consolidated groups and stand-alone credit institutions is semi-annual, depending on their size, complexity, risk profile, etc., the frequency of reporting of the "CA-Solvency Ratio Overview" and the "Group Solvency Details" templates may be requested quaterly. None Banco de España conducts both on-site and off-site supervision. Periodical requested information regarding solvency does not depend on the type of carried out supervision. None All credit insititutions are subject to IAS-type accounting framework. Both IFRS and FAS Yes, compulsory Version 1.2.2 Yes, optional 1.2.4 Fully Fully Partially Partially Fully Fully Fully Partially Not applied Partially Partially Partially Fully Fully Fully Fully Partially Partially Fully Partially Fully Not applied Fully Fully Fully Fully Fully Partially Partially Partially Partially Partially Fully Fully Fully Fully Information to be renderred to Banco de España MKR SA FXa: Standardised approach for foreign currency and gold positions FR 6/30/2007 HU 1/1/2008 total Total instruction 2007-02 http://www.pszaf.hu/engine.aspx?page=pszafhu_c orep 1/1/2008 1/1/2007 S or Q (depending on asset size and credit risk approach) Monthly at solo level, Quarterly at OPR templates Semi-annually at consolidated level The solvency reporting is fully based on COREP in order to collect the prudential information. It is nonetheless a Solvency reporting has to be filled according to Act "light" version of COREP since the French supervisor CXII of 1996 on Credit Institutions and Financial does not request all the items proposed by the CEBS. Enterprises and Act CXX of 2001 on the Capital Market. At the same time, a great amount of national previous COREP templates have been incorporated into national templates had been suppressed. COREP has thus reporting framework. Core and detailed information is become the main reporting means, even if completed required to be submitted monthly, except the OPR with other templates on other supervisory tasks (for templates which have to be provided quarterly. instance for liquidity or large exposures). All institutions with more frequent periodicity for over 80 billions of assets institutions All Credit Institutions and Investment Firms Similar for all subject institutions, either on a solo or consolidated basis according to Regulation 2000-03 Risk based On-site and Off-site supervision both at solo and consolidated level IAS/IFRS or French rules (Conseil National de la Comptabilité) National GAAP Yes, compulsory 1.2 No N/A Partially Not applied Partially Partially Partially Fully Fully Fully Fully Partially Partially Partially Partially Partially Fully Fully Partially Partially Partially Partially Fully Partially Partially Fully Fully Fully Fully Fully Fully Partially Partially Fully Fully Fully Fully Fully Other templates Overview of capital requirements under Basel I. IE 3/30/2007 IT 3/31/2007 Total phased roll-out under development www.financialregulator.ie n/a 1/1/2008 Quarterly S Credit Institutions availing of Article 152(8) of the CRD will continue to report using the Financial Regulator's Prudential Return framework for 2007. Those institutions not availing of Article 152(8) are requested to complete the COREP templates for the Core information sections for the four reporting calendar quarter ends commencing with 30 March 2007. The Detailed sections are not required to be submitted each quarter; however, credit institutions must be able to provide the Financial Regulator with these sections when requested. COREP is also used on a solo basis with a quarterly frequency of reporting. Credit Institutions and Investment Firms all credit institutions Individual and group solo and consolidated supervision Local GAAP and IAS/IFRS IAS/IFRS Yes, optional 1.2 No [Namespace] Fully Fully, but on request Partially Partially Fully for core data, detail data on request Fully for core data, detail data on request Fully for core data, detail data on request Fully for core data, detail data on request Fully for core data, detail data on request Partially Partially Partially Partially Partially Fully, but on request Fully for core data, detail data on request Not applied Partially Fully for core data, detail data on request Fully for core data, detail data on request Fully for core data, detail data on request Fully for core data, detail data on request Fully Fully, but on request Fully for core data, detail data on request Fully, but on request Fully, but on request Partially Partially Partially Partially Partially Partially Partially Partially Not applied [Include link] [Include link] LT 01.04.2008 LU 1/1/2007 total roll-out LBV-138, 09 11 2006 http://www.cssf.lu/index.php?id=142 N/A 1/1/2008 Quartely Semi-annually at consolidated level COREP is used for collection of the prudential information in order to carry out supervisory tasks COREP is used as the only vehicle for the collection of periodicsolvency-related information the CSSF collects to form part of the basis for its ongoing prudential supervision. COREP is used both on a consolidated and solo basis. In the latter case a quarterly reporting frequency is required. During 2007, only the CA template will be applicable for banks applying the CRD. From 01/01/2008 onwards, all credit institutions will have to report the core information of the COREP templates. applicable to all commercial banks and the Central Credit Union licensed by the Bank of Lithuania All credit institutions will have to report according to the same reporting scheme, without taking into account their size nor their activities. The reporting frequency (quarterly/half-yearly) will vary according to the bank's reporting level (solo/consolidated). The reporting scheme for investment firms will be implemented during 2007. Solo and consolidated Beside the analysis of the regulatory reporting, supervision is largely based on carrying out of specific on-site missions in the credit institutions IFRS LUXGAAP / IAS in 2007, IAS in 2008 Yes, compulsory XBRL 2.1 dimension 1.0 Yes: optional in 2007, compulsory in 2008 Not applicable Fully Partially Not applied Partially Partially Partially Partially Partially Fully Fully Fully Fully Fully Fully Fully Fully Not applied Partially Partially Partially Partially Partially Fully Not applied Partially Not applied Not applied Fully Fully Fully Fully Fully Fully Fully Fully Fully Table 19.Large exposure risk (LBV-138, 09 11 2006) Not applicable LV 1/1/2008 MT 1-Jan-07 Total http://www.fktk.lv/lv/likumdosanas_akti/kreditiestades/fktk_izdot ie_noteikumi/parskatu_sagatavosana/30112007_parskatu_par _minimalo 1/1/2008 Phased roll-out http://www.mfsa.com.mt/mfsa/pages/banking/credit% 20institutions/rules/rules.asp 1-Jan-08 Quarterly Quarterly The solvency requirements currently being reported by credit institutions are to be calculated in accordance with Banking Directive BD/04 – Solvency Ratio of Credit Institutions authorised under the Banking Act 1994 . However, Article 152 of 2006/48/EC (the CRD) grants discretion to credit institutions to implement the requirements of the CRD at any time during 2007, at the latest by 1st January 2008. In this respect, all the locally licensed credit institutions were contacted to establish the date by which they envisage to adopt the methodologies laid down in the CRD for calculating their capital requirements. Notwithstanding the different dates for the final implementation of the CRD, credit institutions were As from 01.01.2008, banks and investment firms will asked to start submitting as from end December 2006 ‘parallel’ statutory prepare the quarterly reports regarding solvency at the returns. In this respect, the requirements of the CRD were transposed into individual level, and semi-annually reports at the a new Banking Rule BR/04 – Capital Requirements of Credit Institutions consolidated and sub-consolidated levels. Investment authorised under the Banking Act 1994 which will eventually replace the firms referred to in Article 120, paragraph 1, Clause 3 current Banking Rule BD/04 upon passing of the amendments by of the Law on the Financial Instruments Market will parliament to the Banking Act 1994. Thus, COREP returns are embedded prepare said reports monthly. in the new BR/04 and will serve as a tool to collect prudential information required by the Authority to carry out its supervisory tasks in relation to the calculation of capital requirements of credit institutions. Currently the solvency ratio computation of credit institutions (calculated on a consolidated and solo basis) is also published in the annual financial statements. The financial statements are audited in accordance with International Financial Reporting Standards as adopted by the EU and in compliance with the Banking Act (Cap. 371) and the Companies Act (Cap. 386). It is envisaged that by the end of this year, the Authority Solvency reporting is applicable to banks and Credit institutions authorised under the Banking Act 1994 investment firms, which have to comply with regulations regarding solvency in accordance with http://www.mfsa.com.mt/mfsa/pages/banking/cr Regulation No 60 of the Board of FCMC of 02.05.2007, edit%20institutions/licence%20holders/licence%2 Regulation on the Calculation of Minimum Capital 0holders.asp Requirements. On-site and off-site supervision on a solo, subconsolidated and consolidated basis. On-site and Off-site supervision IAS/IFRS IFRS / IAS only No NO N/A Fully Not applied Fully Fully Fully Fully Fully Partially - refer also to Other information section below Fully Partially Fully Fully Fully Fully Not applied Fully Fully Fully Fully Fully Fully Not applied Fully Not applied Not applied Fully Not applied Not applied Not applied Not applied Not applied Not applied Not applied Fully Fully Fully Not applied The requirements of CA-Solvency Ratio Overview sheet (above) were partly utilised to determine the calculation of the Own Funds figure by CI's in line with Banking Rule BR/03 (BR/03/2007) NL PL 4/30/2007 1/1/2007 total total http://sis.nbp.pl/corep offical published version N/A [30-06-07] Q Q Applicable to all credit institutions COREP also forms the basis of the prudential reporting of solvency information for the supervision on a solo level. At this level the reporting frequency is monthly. Credit institutions (the application of the guidelines for Banking sector not including branches of foreign banks investment firms is less voluminous compared to the in Poland one for credit institutions Applicable to all credit institutions. The reporting forms the basis for the risk based supervision. On a consolidated and solo basis IAS/IFRS and Dutch GAAP IAS/IFRS and local regulations Yes, optional 1.2.3 Yes, compulsory Version 1.2 Release 3 Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Fully Not applied Not applied Fully Fully Fully Fully Fully Fully Fully Fully Fully [Include link] Other information Pt 6/30/2007 RO 01.01.2008 total Total Order of National Bank of Romania 12/2007 - the reporting framework the minimum capital requirements credit institutions available only Romanian language 01.01.2008 The reporting shall be carried out quarterly for the indicators calculated on an individual basis, except the own funds indicators inherent to the CA template which will be reported monthly, and respectively, semiannually, for all the indicators calculated on a consolidated basis. no for of in Instruction no. 23/2007 N/A Q - solo level S - consolidated level The national implementation of COREP forms the basic set of data on solvency requirements that institutions have to report. The majority of core and detailed information has been adopted (the templates concerning market risk-standard approach have been combined with the ones demanded under the previous reporting framework). A limited set of additional templates is required, the most relevant one for the purposes of reporting of large exposures. From 01.01.2008, the COREP framework will be used for supervision both on a solo and on a consolidated level. The COREP templates will replace the existing reporting framewok. An additional template for large exposures is requested. The reporting is applicable to credit institutions, investment firms and financial holdings (parent companies). The basic reporting frequency (quarterly/semi-annually) will vary according to the institution's reporting level (solo or consolidated level, respectively). Credit institutions, Romanian legal persons, and branches of credit institutions from third countries. The central bodies of credit cooperatives shall report both on solo level and on the level of the cooperative network of which they are part of. On-site and Off-site supervision both at a solo and consolidated level. Solo and consolidated National GAAP (GAAP based on IFRS) - solo level IFRS - consolidated level National GAAP at individual level and IFRS at consolidated level. No N/A Fully Not applied Fully Fully Fully Fully Fully Partially Fully Fully Partially Partially Partially Partially Not applied Fully Fully Fully Fully Fully Partially Fully Fully Fully Fully Not applied Partially Partially Partially Partially Partially Partially Not applied Fully Fully Fully Large exposures Large exposures SE [31-03-2007] SI Total 1/1/2007 total http://www.fi.se/upload/30_Regler/10_FFFS/2007/ NY_FFFS_2007_1_Bilaga_2.pdf [01-01-2007] Regulation on COREP (135/06) N/A Q Quarterly COREP will be used both for credit institutions and investment firms. The reporting frequency for the latter will be on a monthly basis. Sweden will ask for other information related to solvency reporting, however, we have not take any decision yet on what to ask for. No distinction is made between credit institutions. Supervision on solo and consolidated basis. IFRS No No N/A Fully Not applied Partially Not applied Partially Partially Partially Partially Partially Fully Fully Fully Fully Fully Not applied Partially Partially Partially Partially Partially Partially Partially Fully Not applied Not applied Fully Fully Fully Fully Fully Fully Fully Fully Partially Fully Not applied Large exposures MKR SA TDI (a and b) SK 3/30/2007 roll out www.nbs.sk 12/31/2007 M none none banks IFRS only , securities dealers has option to use national accounting framework none none partially not applied fully partially fully not applied not applied fully not applied not applied not applied not applied not applied fully fully fully fully partially [Include link] UK 01-01-07 phased roll-out Supervision manual Chapter 16.12 30-09-08 Q Risk based, collecting only the data that has been justified through cost benefit analysis. Any additional (detailed) information required on an ad hoc basis may be requested from firms, but it will not be provided on a regular basis. High level data during 2007, most data from mid 2008 All firms subject to CRD. Unconsolidated and solo-consolidated credit institutions with a large percentage of market risk will report solvency monthly, like €730K investment firms. Other credit institutions (the majority) and €125K investment firms report quarterly. €50K investment firms report half-yearly, as do all consolidated groups. Risk based. IFRS or GAAP No [Namespace] Fully Not applied Partially Partially Partially Partially Partially Partially Not applied Partially Partially Partially Partially Partially Partially Fully Partially Partially Information on solo consolidations, and Non-EEA sub-groups IC LI 31 March 2007 for SA Not yet finalised for IRB Not implemented phased roll-out Not yet published http://www.gesetze.li/get_pdf.jsp?PDF=2006280.pd f Expected and of Q2/2007 Quarterly Applicable to all Financial Undertakings which have received an operating licence cf. Act 161/2002 on Financial Undertakings, Article 4, paragraph 1, points 1 to 3 and 5 to 7, i.e.commercial banks, savings banks, credit undertakings, securities companies, securities brokerages and management companies of UCITS, and consolidated undertakings where the parent undertaking is one of the undertakings mentioned above. Solo and consolidated supervision IFRS Not yet Partially Partially Fully Fully Fully Fully Fully Fully Fully Partially Partially Partially Partially Fully Fully Partially Fully Fully NO Not finalised yet Total Not finalised yet. A temporary reporting which is partially based on COREP is implemented for 2007. 31st January 2008 Q Reports will be sent in most likely via Excel or XBRL files by the institutions Credit institutions, securities houses IFRS/NGAAP Yes, optional 1.2.4 Fully Fully Fully Fully Fully Partially Partially Not applied Fully Partially Partially Partially Partially Fully Not applied Partially - ASA not applicable Not applied Not applied Reporting for IRB-floors