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DNB informs on data reporting during COVID-19 crisis

DNB updates on submission period for supervisory reportsOn 16 April 2020, the De Nederlandsche Bank (DNB) provided for updates on submission period for supervisory reports.

22 May 2020

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In addition to the previously published EBA statement and ECB Statement , DNB wants to inform the banks about the submission periods for supervisory reports.The submission deadlines for the regular supervisory reports (following from the ITS on supervisory reporting, the ITS on supervisory benchmarking and the ECB FINREP Regulation) - with the exception of the LCR and ALMM - are postponed by one month for the submission period between March and the end of May 2020.
The data point model v2.9 changes in the supervisory reports must be implemented in accordance with previously communicated planning. The deferral and changes apply to both significant and less significant institutions.

The postponement for submission also applies to interest rate risk reporting and country risk reporting. The submission period for these reports will also be postponed by one month. Furthermore, for the significant institutions, the submission period of the 2020 Q1 STE templates is postponed by one month and the Funding Plans (following from the Guidelines on Funding Plans) by two months. Any changes in the submission deadlines for the ad hoc inquiries are communicated via the ad hoc inquiries overview.
In these times of the COVID-19 outbreak, the flexibility in submission deadlines should somewhat ease the reporting burden on banks, without compromising data quality.

DNB extends ECB guidance on IFRS 9 in the context of the COVID-19 pandemic to LSIs
On 24 April 2020, the De Nederlandsche Bank (DNB) extended ECB guidance on IFRS 9 in the context of the COVID-19 pandemic to LSIs.
Recently the ECB wrote to all significant institutions providing them with further guidance and references to the use of forecasts to avoid excessively procyclical assumptions in their expected credit loss (ECL) estimations during the COVID-19 pandemic. DNB hereby extends the guidance provided to all Dutch less significant institutions which make use of IFRS 9 and urges them to consider the guidance provided.
DNB agrees with the ECB’s statement that while each institution should make its own assumptions and take its own decisions on the level of provisions required in line with IFRS 9, it is expected that institutions consider the guidance provided when estimating the ECL given the current context of heightened uncertainty and very limited availability of reasonable and supportable forward-looking information on the impact of COVID-19.

DNB updates submission period for supervisory reports
DNB extends ECB guidance on IFRS 9 in the context of the COVID-19 pandemic to LSIs

This article was originally published in the April edition of REGWATCH. Read the full edition covering the following jurisdictions:

  • European Union
  • Belgium
  • France
  • Germany
  • Hong Kong
  • Ireland
  • Italy
  • Luxembourg
  • Switzerland
  • United Kingdom

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