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Supervision release 14 March 2014 – 12/2014

Regulations and guidelines 1/2014: Risk reporting by credit institutions will enter into force on 31 March 2014

FIN-FSA has on 6 March 2014 issued regulations and guidelines on risk reporting by credit institutions.

Contents and objective of the regulations

Credit institution's risk area-specific data collection has been reformed in connection with the start of FINREP and COREP reporting. In the reporting of credit and interest rate risks as well as the reporting of largest counterparties, reporting-specific concepts and definitions are to be introduced. The regulations and guidelines incorporate reporting of State of the banking system (S), Non-performing assets (J), Interest rate risk (R) and Reporting of largest counterparties (V).

The submission to FIN-FSA of supervisory information included in the regulations and guidelines is based on FIN-FSA's powers to issue regulations and the Commission Implementing Regulation.

Opinions submitted

FIN-FSA has compiled a feedback summary of the opinions submitted on the regulations and guidelines. The feedback summary and the opinion submitted are available as appendices to this supervision release.

Entry into force

The regulations and guidelines will enter into force on 31 March 2014. The information is to be submitted to the Financial Supervisory Authority by 30 May 2014, at the latest. The reporting forms on largest counterparties will be published at a date to be announced later, and the first reporting date will be 30 June 2014.

The regulations and guidelines will be published in English week 12.

Repealed regulations and guidelines

Upon entry into force, these regulations and guidelines will repeal FIN-FSA standard RA4.6, Reporting of non-performing and zero-interest assets; standard RA4.5, Reporting of interest rate risk; and, as from 1 July 2014, Regulations and guidelines 9/2012, Reporting of largest counterparties.

For further information, please contact

  • Risk Specialist Seppo Pitkänen, tel. +358 10 831 5376 or seppo.pitkanen(at)fiva.fi (J, S and V reporting)
  • Risk Specialist Mika Arala, tel. +358 10 831 5543 or mika.arala(at)fiva.fi (R reporting).

Appendices

Regulations and guidelines 1/2014, Risk reporting by credit institutions