Question ID
2015_2201
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Regulation (EU) No 680/2014 - ITS on supervisory reporting of institutions (repealed)
Article/Paragraph
Article 9
Type of submitter
Competent authority
Subject matter
Scope of application of FINREP
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 on the question

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.

Submission date
Rejected publishing date
Rationale for rejection

Please note that as part of adjustments to the Single Rulebook Q&A process, agreed by the EBA and the European Commission, it has been decided to reject outstanding questions submitted before 1 January 2020, when the Q&A process was updated as part of the last ESAs Review. In particular, the question that you have submitted has now regrettably been rejected and will not be addressed.

If you believe your question would still benefit from clarification, you are invited to resubmit your question, adapting it to reflect any legislative, regulatory or other relevant developments that may have occurred since the initial date of submission. The EBA will aim to address resubmitted questions as a matter of priority. When considering to resubmit, you are kindly requested to observe the updated admissibility criteria agreed in the context of the adjustment of the Q&A process, available in the Additional background and guidance for asking questions. We hope for your understanding.

For further information please refer to the press release and the updated Q&A page.

Status
Rejected question