Question ID:
Legal Act:
Regulation (EU) No 575/2013 (CRR)
Supervisory reporting - Other
COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations:
Regulation (EU) No 680/2014 - ITS on supervisory reporting of institutions (as amended)
Disclose name of institution / entity:
Type of submitter:
Competent authority
Subject Matter:
Application of the Discretion outlined in Article 99 (6) of the CRR to non-IFRS institutions

We wish to clarify whether, in exercising the discretion afforded to it in Article 99 (6) of the CRR, a competent authority may consult the EBA in order to extend the (new FINREP) reporting requirements outlined in Article 99 (2) to non-IFRS banks, but not to non-IFRS investment firms in its jurisdiction.

Background on the question:

Article 99 (6) of the Regulation provides competent authorities the option to consult the EBA where it wishes to apply the Article 99 (2) financial reporting requirements to non-IFRS institutions. We do not believe it is appropriate for investment firms to fill out the new FINREP templates. We have our own version of the FINREP 2 templates which are tailored specifically for investment firms. It would be more beneficial for us to maintain the current financial reporting requirements in this regard.

Date of submission:
Published as Final Q&A:
EBA Answer:

Where a competent authority exercises the discretion foreseen in Article 99 (6) of Regulation (EU) No 575/2013/EU (CRR) and considers that financial information at consolidated level in Article 99 (2) is necessary to obtain a comprehensive view of the risk profile of the activities of, and a view of the systemic risk to the financial sector or the real economy posed by non-IFRS institutions, it shall consult the EBA on the extension of the reporting requirements to such institutions, provided that they are not already reporting on such a basis.

The discretion aims at providing a view on the risk profile of groups of institutions or even the financial sector / real economy rather than individual institutions. Accordingly the discretion should be applied to groups of institutions with similar risk profiles and/or posing similar systemic risk to the financial system or to the real economy.

At the same time, the discretion to extend FINREP reporting requirements at consolidated level to non-IFRS institutions applies only to institutions subject to Directive 86/635/EEC (the Bank Accounts Directive). If investment firms are included in the scope of the legislative rules implementing Directive 86/635/EEC (the Bank Accounts Directive) at national level the discretion in Article 99 (6) CRR could be applied to non-IFRS investment firms at consolidated level.

Furthermore, it should be noted that the discretion is only applicable to institutions (or a subset thereof) that do not already report on the basis of IFRS in line with Article 99 (2) and (3) of the CRR.

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