Question ID
2015_1738
Legal act
Regulation (EU) No 575/2013 (CRR)
Topic
Supervisory reporting - Leverage ratio
Article
ARTICLE 429, 429 bis, 429 ter
COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
Regulation (EU) No 680/2014 - ITS on supervisory reporting of institutions (repealed)
Article/Paragraph
ARTICLE 429, 429 bis, 429 ter
Type of submitter
Individual
Subject matter
Clarification on Leverage Ratio Delegated Act Reporting
Question

Based on article 2, the COMMISION DELEGATED REGULATION (EU) 2015/62 enters into force on the day following that of its pubblication in the "Official Journal of the European Union". The delegated act was pubblished on January 17th, 2015. We are wondering if the reporting as of March 31th, 2015 should be based on delegated act rules (2015/62) using the actual Data Point Model (ANNEX X-XI COMMISION REGULATION (EU) 2014/680) or should be based on the actual regulation 575/2013 article 429?

Background on the question

Ambiguos between entry into force of the delegated act (January,19th) and the first date of application indicated on the "Draft Implementing Technical Standards amending Commission Implementing Regulation (EU) No 680/2014 (ITS on supervisory reporting) with regard to the Leverage Ratio (LR) following the EC’s Delegated Act on the LR"

Submission date
Final publishing date
Final answer

The amendments to Article 429 of Regulation (EU) No 575/2013 ("the CRR") which were introduced by Commission Delegated Regulation (EU) 2015/62 ("the Delegated Regulation") do not suppress the requirements related to the reporting of information on the leverage ratio laid down in Commission Implementing Regulation (EU) No 680/2014 ("the Implementing Regulation"). Therefore, institutions will have to report the leverage ratio information on the basis of the existing templates provided in that Implementing Regulation as long as those templates are not amended by the Commission.

Given that the existing reporting templates in the Implementing Regulation are not yet aligned with the leverage ratio calculations as amended by the Delegated Regulation, but are rather based on Article 429 of the CRR as it stood before the introduction of the Delegated Regulation, the information to be reported pursuant to the Implementing Regulation is the one calculated in accordance with Article 429 of the CRR without the amendments introduced by the Delegated Regulation. Note that the requirement to report monthly values in template C45.00 continue to be subject to the waiver of Article 499(3) of the CRR (also see Q&A 1871).  Furthermore, any reporting on the leverage ratio that falls outside the scope of the Implementing Regulation should be in accordance with Article 429 of the CRR as amended by the Delegated Regulation.

DISCLAIMER:

This question goes beyond matters of consistent and effective application of the regulatory framework. A Directorate General of the Commission (Directorate General for Financial Stability, Financial Services and Capital Markets Union) has prepared the answer, albeit that only the Court of Justice of the European Union can provide definitive interpretations of EU legislation. This is an unofficial opinion of that Directorate General, which the European Banking Authority publishes on its behalf. The answers are not binding on the European Commission as an institution. You should be aware that the European Commission could adopt a position different from the one expressed in such Q&As, for instance in infringement proceedings or after a detailed examination of a specific case or on the basis of any new legal or factual elements that may have been brought to its attention.

Status
Final Q&A
Answer prepared by
Answer prepared by the European Commission because it is a matter of interpretation of Union law.

Disclaimer

The Q&A refers to the provisions in force on the day of their publication. The EBA does not systematically review published Q&As following the amendment of legislative acts. Users of the Q&A tool should therefore check the date of publication of the Q&A and whether the provisions referred to in the answer remain the same.