ITA CB opened consultation re banks, supervised intermediaries' supervisory reports.
Concerns banks and parent companies of a banking group; financial intermediaries.
Trustees; electronic money institutions; payment institutions; SIM as well as SGR.
Specialized crowdfunding service providers; trade associations representing members.
Circulars Amended
Draft of the 28th update of circular 115 of Aug. 7, 1990, entitled instructions for compiling supervisory reports on a consolidated basis.
Draft of the 26th update of circular 148 of Jul. 2, 1991, entitled manual of statistical and supervisory reporting for securities market intermediaries.
Draft of the 76th update of circular 154 of Nov. 22, 1991, entitled supervisory reports of credit and financial institutions; reporting schemes and instructions for forwarding information flows.
Draft of the 23rd update of circular 189 of Oct. 21, 1993, entitled manual of statistical and supervisory reporting for collective investment organizations.
Draft of the 23rd update of circular 217 of Aug. 5, 1996, entitled manual for compiling supervisory reports for financial intermediaries, payment institutions and EMI.
Draft of the 17th update of circular 272 of Jul. 2008, entitled matrix of accounts.
Draft of the 16th update of circular 286 of Dec. 17, 2013, entitled instructions for compiling prudential reports for supervised entities.
All draft circulars have visible tracked changes re the amendments to the old versions.
Purpose
For circulars 272, 217, 148, 189: adapt the provisions re non-performing credit exposures to business crisis and insolvency of the Legislative Decree 14/2019.
For circulars 272, 217: integrate the information introduced by ECB reg 2020/2011.
Which amended ECB reg 1409/2013, on payment statistics, based on ECB clarifications provided within the scope of a discussion forum coordinated by the ECB's PAY team.
For circulars 148, 115: reformulate the addressees of the reporting provisions to be applied to groups of SIMs.
For circular 217: introduce two items on the purchases and sales of loans necessary for the analysis of the operating performance and the risk level of the intermediaries.
For circular 272: add, in the item re sectoral, territorial data on loans' credit quality, an information attribute necessary for monitoring the performance of business loans.
To identify signs of deterioration in the quality of banks' exposures at sector level.
For circular 286: introduce a new reporting scheme, made up of 4 items, re the regulatory capital of specialized crowdfunding service providers of EU reg 2020/1503.
Special Application Timetable
Circular 115: changes of the references to the addressees of the reports in the general instructions will apply from the date of publication of the regulatory amendment.
Circular 148: changes of the references in the credit quality para of general warnings re company crisis and insolvency management procedure, apply from Dec. 31, 2023.
The amendments to addressees of the reports apply from the changes' publication.
Circular 189: changes in the para credit quality of the general warnings to the new procedure for managing company crisis, insolvency will apply from Dec. 31, 2023.
Circular 217: changes in the para credit quality of the general warnings to the new procedure for managing company crisis, insolvency will apply from Dec. 31, 2023.
New items 58242 and 58244, about purchases and sales of loans referred to in section II, subsection 7, would enter into force from the reference date of Mar. 31, 2024.
Changes to the items of section II, subsection 12 payment services will apply from Jan. 1, 2025; except items 52503, 52565 which will enter into force on Mar. 31, 2024.
Circular 272: changes in the para credit quality of the general warnings to the new procedure for managing company crisis, insolvency will apply from Dec. 31, 2023.
Change to item 58366 loans: sectoral and territorial data on credit quality of section II, subsection 1, part two of general warnings, will enter into force on Mar. 31, 2024.
Changes to items of section II subsection 3 payment services, apply on Jan. 1, 2025.
Circular 286: updates of references of provisions of a general nature and introduction of section 8, Part II would enter into force from the date of the changes' publication.
Effectiveness
Comments on the public consultation can be submitted, by email, until Oct. 9, 2023.
Nov. 2023 Circulars 115 and 154
On Nov. 28, 2023, ITA CB published the 28th update of circular 115 of Aug. 7, 1990, entitled Instructions for compiling supervisory reports on a consolidated basis.
On the same day, ITA CB published the 27th update of circular 154 of Nov. 22, 1991.
This update amends the reporting schemes reporting schemes and the corresponding coding system are amended consistent with the supervisory reporting regulations.
Creation of three collection information bases, CB for reporting on covered bank bonds and CF1 and CF2 for reporting related to crowdfunding requests respectively from suppliers specialized in crowdfunding services for businesses and other banks, etc.
Upon first application, the deadline for forwarding the new base CB information relating to the accounting date of Dec. 31, 2023 is extended to May 13, 2024.
From Jan. 1, 2023, ITA CB will no longer send supervised entities notifications of the publication on its website of regulatory or general acts since the forms of of publicity legally provided for guarantee their full knowability and availability.
Intermediaries are therefore invited to maintain or activate the automatic alert system on the ITA CB website, in order to receive timely news of published acts.
Mar. 2024 17th Amendment to Cir 286
On Mar. 12, 2024, ITA CB issued text of the 17th amendment to Circular 286 of 2015.
Part II, Section 5, Subsec 1 General instructions amended per new general system of reporting for financial intermediaries, new rules refer to COREP reporting schemes.
Rules as regulated by EC ITS on prudential reporting re DPM 3.2, modules C 8.3, C 8.4, C 8.5, C 8.5.1, C 8.7 and other templates mentioned; more details provided.
Update applicable starting from reports referring to accounting date Sep. 30, 2024.
This update follows the 16th amendment of Nov. 21, 2023 that included changes to introduction and addition of Part II Sections 8, 9 and 10.
Jun. 2024 Corrections to Cir 154
On Jun. 27, 2024, ITA CB issued correction slip re 76th amendment to Cir 154/1991.
The corrections in sheet will be included in Circular 154 at the first useful opportunity.
