Circular CSSF 18/676 is a CSSF circular, published 18 January 2018 and updated 16 March 2023. Subject: Adoption of the EBA Guidelines on LCR disclosure to complement the disclosure of liquidity risk management under Article 435 of Regulation (EU) No 575/2013 (EBA/GL/2017/01). It was repealed by Circular CSSF 23/830.
\nRelevant for: Credit institutions.
\nIn case of discrepancies between the French and the English text, the French text shall prevail.
\nLuxembourg, 18 January 2018 To all credit institutions incorporated under Luxembourg law, as well as Luxembourg branches of credit institutions located in a third country
\nRe :
\nAdoption of the EBA Guidelines on LCR disclosure to complement the disclosure of liquidity risk management under Article 435 of Regulation (EU) No 575/2013 (EBA/GL/2017/01)
\nLadies and Gentlemen, The purpose of this circular is to draw attention to the Guidelines of the European Banking Authority (EBA) on LCR disclosure to complement the disclosure of liquidity risk management under Article 435 of Regulation (EU) No 575/2013 1 (EBA/GL/2017/01) (the Guidelines) that have entered into force on 31 December 2017 and with which the CSSF intends to comply in its capacity as national competent authority. 2 With respect to the disclosure requirements of Part Eight of the CRR 3, the Guidelines specify the general disclosure framework of risk management under Article 435 CRR in relation to liquidity risk by providing a harmonised structure for the disclosure of information required under Article 435, paragraph 1 of the CRR.
\nRegulation (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 (CRR) 2 « Significant supervised entities » as defined in Article 2, point 16 of Regulation (EU) No 468/2014 of the European Central Bank (ECB) of 16 April 2014 (SSM Framework Regulation) shall refer to the relevant ECB rules (if any). 3 Please refer to circular CSSF 17/673 on the adoption of the EBA Guidelines on disclosure requirements under Part Eight of Regulation (EU) No 575/2013 (EBA/GL/2016/11) (only available in French)
\nThe Guidelines are addressed to those credit institutions that are subject to the disclosure requirements of Part Eight of the CRR in accordance with articles 6, 10 and 13 of this regulation and who fall under the scope of the Commission Delegated Regulation (EU) 2015/61 4, that is: -
\ncredit institutions identified as O-SIIs (“Other Significant Institutions”) 5 or G-SIIs (“Globally Significant Institutions”) 6 which must disclose all the information specified in Annexes I and II of the Guidelines; and credit institutions other than the ones that have been identified as O-SIIs or G-SIIs which must disclose all the information specified in Annex I of the Guidelines but benefit from the possibility of disclosing a simplified version of the information specified in Annex II of the Guidelines (lines 21 to 23).
\nIt should be noted that the CSSF does not make use of the option granted to the competent authority under Article 13(1) second subparagraph of the CRR to extend, in all or in part, the disclosure requirements of Part Eight of the CRR to certain institutions, other than the ones that have been identified as O-SIIs or G-SIIs, which are under its direct supervision. The present circular shall apply with immediate effect. The first application of the Guidelines on the disclosure of the information required under Part Eight of the CRR shall be done with respect to the credit institutions’ situation as of 31 December 2017. The Guidelines are appended as an Annex to this circular.
\nThe text above is the opening of the document; the PDF carries the whole.
\nDocument page, PDF. Source: Commission de Surveillance du Secteur Financier (CSSF), reproduced with the CSSF's consent. The French text prevails.
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