Circular CSSF 24/864 is a CSSF circular, published 28 October 2024. Subject: Application of the Guidelines of the European Banking Authority (“EBA”) on resubmission of historical data under the EBA reporting framework (EBA/GL/2024/04).
\nRelevant for: Credit institutions, Investment firms, Payment institutions.
\nCircular CSSF 24/864 Application of the Guidelines of the European Banking Authority (“EBA”) on resubmission of historical data under the EBA reporting framework (EBA/GL/2024/04)
\nCircular CSSF 24/864 Application of the Guidelines of the European Banking Authority (“EBA”) on resubmission of historical data under the EBA reporting framework (EBA/GL/2024/04) To all supervised entities required to submit data using the supervisory reporting framework developed by the European Banking Authority
\nLuxembourg, 28 October 2024 Ladies and Gentlemen, The purpose of this circular is to inform you that the CSSF, in its capacity as competent authority, applies the Guidelines (EBA/GL/2024/04) of the European Banking Authority (the “EBA”) on resubmission of historical data under the EBA reporting framework (the “Guidelines”), published on 9 April 2024. Consequently, the CSSF has integrated the Guidelines into its administrative practice and regulatory approach with a view to promoting supervisory convergence in this field at the European level. All entities in the scope of application (as defined below) shall duly comply with the Guidelines.
\nTABLE OF CONTENTS 1. The Guidelines .............................................................................................................. 4 2. Scope of application ....................................................................................................... 4 3. Date of application ........................................................................................................ 5
\nThe Guidelines The Guidelines set out a common approach to the resubmission by the entities in scope of historical data to the competent and resolution authorities in case there are errors, inaccuracies or other changes in the data reported in accordance with the supervisory and resolution reporting framework developed by the EBA. The Guidelines also set out general circumstances when the resubmission of historical data may not be required. The common approach to the resubmission of historical data should apply unless there are specific requirements for the resubmission of data set out in the reporting framework developed by the EBA. The approach for the resubmission of historical data depends on the frequency and the reference date of the affected reporting and the timing of the affected data in relation to the previous yearend. The Guidelines do not embed any specific proportionality elements apart from those that are already built into the underlying reporting requirements and the filing rules. These Guidelines do not tamper the primary obligation of financial institutions to report data that is of high quality, consistent and complete. Furthermore, the Guidelines do not restrict the CSSF’s already existing ability to require additional resubmissions on a case-by-case basis. The Guidelines are attached to this circular and are available on the EBA’s website: https://www.eba.europa.eu/publications-and-media/press-releases/eba-publishes-its-finalguidelines-resubmission-historical-data-under-eba-reporting-framework
\nScope of application This circular shall apply to all supervised entities required to submit data using the supervisory reporting framework developed by the EBA, for which the CSSF is the competent authority. This circular applies at the individual, sub-consolidated and consolidated level following the level of application of the actual reporting obligation concerned.
\nDate of application This circular shall apply with immediate effect.
\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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