EBA · 2015_2201 Rejected question

Scope of application of FINREP

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
99, para. 2
Topic
Supervisory reporting - FINREP (incl. FB&NPE)
Submitted by
Competent authority
Submitted
2015-08-05
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Question

Pursuant to article 99.2 CRR, institutions subject to Article 4 of Regulation (EC) No 1606/2002 and institutions other than those referred to in Article 4 of that regulation that prepare their consolidated accounts in conformity with the IFRS/IAS shall also report financial information. Shall an institution publishing its consolidated accounts in IFRS submit the reporting FINREP at its level when it is controlled by a parent financial holding company? It is worth noting that this institution applies the own funds requirements on the basis of the consolidated situation of the financial holding company in accordance with the article 11.2 of the CRR, and not on the basis of its own consolidated accounts. In addition this institution is not subject to own fund requirements at its level either on a sub-consolidated or on an individual basis.

Background

Article 99.2 of the CRR which states the reporting requirements for financial information, uses the term “also”. The use of this term may create a link with the preceding paragraph and therefore linked the remittance of the FINREP templates to the remittance of the COREP templates.
No answer published yet.

Original source: European Banking Authority, Q&A ID 2015_2201

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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