EBA · 2014_915 Final Q&A

F 31.01

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
none
Topic
Supervisory reporting - FINREP (incl. FB&NPE)
Submitted by
Credit institution
Submitted
2014-03-06
Answered
2014-10-03
Answer provided by
ESAs (EBA, ESMA, EIOPA)
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Question

Annex XV_Validation formulae with IDs v1030_m, v1031_m, v1032_m, v1034_m, and v1036_m define that the sum of outstanding balances in F31.01 should be equal or less than the balances reported in corresponding rows of other FINREP tables (F 07.00, F 43.00, F 08.01.a in F 09.00) less balances with counterparties from sectors »Central banks« and »General government«. Does that mean that these sectors cannot be reported as related parties? Taking into account the fact that all data in columns of template F31.01 refers to IAS 24.19, could it be assumed that also transactions with other counterparties related to the state (IAS 24.25 in 24.26) are not considered in the template? In case the bank is state-owned these validation rules would not hold out.

Background

In case of state-owned banks it is unclear whether transactions with other other counterparties related to the state are considered in template F 31.01. A question has also arisen whether the validation rules mentioned above are applicable in case of state-owned banks.

Answer

Indeed, IAS 24 (25) states that the requirements of IAS 24 (18) may not apply in some cases: IAS 24.25 : "A reporting entity is exempt from the disclosure requirements of paragraph 18 in relation to related party transactions and outstanding balances, including commitments, with: (a) A government that has control, joint control or significant influence over the reporting entity; and (b) Another entity that is a related party because the same government has control, joint control or significant influence over both the reporting entity and the other entity." Under these conditions, the Validation rules v1030_m, v1031_m, 1034_m and 1036_m of Annex XV of Regulation (EU) No 680/2014 13 ITS on Supervisory Reporting of institutions (ITS) are still accurate.

Original source: European Banking Authority, Q&A ID 2014_915

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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