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This consultation paper puts forward a draft ITS on reporting of large exposures as requested by Article 383 of the Capital Requirements Regulation (CRR), and represents an addendum to the ITS proposal on supervisory reporting requirements published on the EBA’s website on 20 December, 2011.
This draft ITS aims at implementing uniform reporting requirements which are necessary to ensure fair conditions of competition between comparable groups of credit institutions and investment firms. Uniform requirements will ultimately make institutions more efficient and result in a greater convergence of supervisory practices.
The EBA intends to finalise the draft ITS and submit it to the Commission by 30 June, 2012. It should be noted that the proposed submission date assumes that a final CRR will be available beforehand.
According to the European Commission proposals, institutions are required to comply with new CRR requirements as of 1 January, 2013. Therefore, the first regular reporting period thereafter is expected to be Q1 2013, with the first reporting reference date being 31 March, 2013. By 13 May, 2013, institutions will then have to submit to national authorities a first set of data related to the reference date.