The revised Capital Requirements Directive and Regulation (CRDV/CRRR2) regulatory package introduces operational and regulatory changes for banking institutions. This package is aimed at continuing the implementation of Basel III within the EU, whilst building on the existing concepts already outlined in CRDIV/CRR. With the objective for Supervisory Reporting to fully reflect all new and changed regulatory obligations, data requirements need to be amended for these to adapt to the adjustments in the regulatory package.

In order to brief credit institutions of such developments, the MFSA held an industry webinar on 29 July 2021. The webinar provided a detailed overview of the main changes to existing reporting modules (e.g. changes to Own Funds, and Leverage Ratio) as well as information on the newly implemented data requirements (such as Identification of Globally Systemic Important Institutions, and Specific Reporting Requirements for Market Risk). The webinar, which was attended by over 100 industry delegates was targeted towards bank officials who work in the area of Supervisory Reporting within their respective institutions.

In his opening address, Victor Pace, Deputy Head within the Banking Supervision function at the MFSA, noted the importance of the webinar as a means of communicating with the industry. He also highlighted the Authority’s renewed commitment towards creating opportunities where it can engage more frequently with stakeholders. Roberta Darmanin, Senior Manager within Banking Supervision at the MFSA, outlined in detail the main changes to the new reporting framework. She emphasised that institutions should comply with these requirements and the related data quality rules as published by the European Banking Authority, with the objective to ensure that good quality data is submitted to the MFSA.

Further detailed guidance on such reporting requirements is made available in the Supervisory Reporting section of the MFSA’s website.