Circular CSSF 20/748 is a CSSF circular, published 23 July 2020 and updated 23 December 2022. Subject: Adoption of the Guidelines of the European Banking Authority on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis (EBA/GL/2020/07). The CSSF marks it as outdated.
\nRelevant for: Credit institutions.
\nKeywords: Coronavirus.
\nCircular CSSF 20/748 Adoption of the Guidelines of the European Banking Authority on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis (EBA/GL/2020/07)
\nCircular CSSF 20/748 Re: Adoption of the Guidelines of the European Banking Authority on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis (EBA/GL/2020/07)
\nLuxembourg, 23 July 2020
\nall
\ncredit
\nLadies and Gentlemen,
\ninstitutions
\ndesignated as Less Significant Institutions under the Single Supervisory Mechanism and to all branches of non EU credit institutions
\nThe purpose of this circular is to inform you on the publication of the Guidelines of the European Banking Authority (EBA) on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis (EBA/GL/2020/07) (the Guidelines). The CSSF intends to integrate the Guidelines into its regulatory approach and administrative practice with a view to promote supervisory convergence in this field at European level. All Less Significant Institutions 1 and branches of non EU credit institutions that fall within the scope of application as set out in section 2 of this circular (InScope Entities) shall duly comply with it.
\nThe Guidelines The EBA has published the EBA/GL/2020/07 dated 2 June 2020 to introduce reporting and disclosure requirements in the context of measures taken by credit institutions in response to the COVID-19 crisis, covering both payment moratoria on existing loans and public guarantees on new lending exposures (the Measures). The Guidelines introduce reporting templates, including in relation to forborne exposures, where such Measures are not captured in the existing supervisory reporting framework. The Guidelines require competent authorities to specify the content and uniform formats when exercising the supervisory powers for reporting and disclosure of exposures subject to the Measures through a set of templates as described in the Annexes of the Guidelines. Institutions falling within the scope of application as set out in section 2 of this circular shall report the exposures as detailed in paragraphs 13 to 15 of the Guidelines and disclose information in accordance with paragraph 19 of the Guidelines to the CSSF. These reporting and disclosure requirements are put forward strictly in the context of the COVID-19 crisis and are therefore expected to be limited in time.
\n“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.
\nThe EBA/GL/2020/07 and its Annexes are available on the EBA website at: https://eba.europa.eu/regulation-and-policy/supervisory-reporting/Guidelinescovid-19-measures-reporting-and-disclosure.
\nScope of application Reporting requirements and templates/tables Less Significant Institutions and branches of non EU credit institutions (In-Scope Entities) shall submit on a quarterly basis: 1. Tables 90.01 and 91.01 if they apply the industry-wide moratorium in Luxembourg as coordinated by the ABBL for related exposures; and 2. Tables 90.03 and 91.05 if they have signed the Convention with the Luxembourg State Treasury to originate loans covered by the Luxembourg State Guarantee in the context of the COVID-19 pandemic pursuant to the Law of 8 April 2020 for related exposures. In consideration of the evolution of the risk related to the Covid-19 crisis and the necessity to monitor such risk at the national and supranational level, the CSSF may request In-Scope Entities to submit additional reporting, in particular: 1.
\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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