Question ID:
2013_153
Legal Act:
Regulation (EU) No 575/2013 (CRR)
Topic:
Supervisory reporting - FINREP (incl. FB&NPE)
Article:
99
Paragraph:
2
COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations:
Regulation (EU) No 680/2014 - ITS on supervisory reporting of institutions (as amended)
Article/Paragraph:
n/a
Disclose name of institution / entity:
No
Type of submitter:
Consultancy firm
Subject Matter:
FINREP - Company only IFRS reporting
Question:

Please confirm the reporting requirements for a broker dealer reporting stand-alone company accounts under IFRS. Current reading of the guidance suggests that such an entity would be out of scope.

Background on the question:

Limited availability of firm guidance and further potential for local regulators to impose additional reporting requirements.

Date of submission:
12/08/2013
Published as Final Q&A:
14/02/2014
EBA Answer:

Article 99(2) of the Regulation (EU) No 575/2013 (CRR) requires those institutions preparing their consolidated accounts in conformity with the IFRS to report FINREP. According to article 99(6) of the CRR, a competent authority may extend FINREP to other institutions in view of the systemic risk posed by them, but always within consolidated financial statements.

The application of FINREP on an individual basis (to stand-alone entities, including listed stand-alone entities) is outside the scope of the requirements of article 99 of the CRR.

Status:
Final Q&A
Answer prepared by:
Answer prepared by the EBA.
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