New transmission method for monthly COREP-FINREP reports (ALM, LCRDA)

Published on 21 June 2024 Email this Share this on LinkedIn Share this on Facebook Communiqué New transmission method for monthly COREP-FINREP reports (ALM, LCRDA) As announced in the press release of 5 April 2024 regarding the transmission of procedures directly to the CSSF, the methods for collecting the following monthly COREP/FINREP reports are going to change from 1 September 2024: ALM – Reporting on additional monitoring metrics for liquidity LCRDA – Liquidity Coverage requirements These monthly COREP/FINREP reports will be exclusively collected through the two methods below, free of charge: Submission of the XBRL file in the dedicated eDesk process Automated submission of the XBRL file via API (S3 protocol) From 1 September 2024: Monthly reporting relating to the current reference period as well as all re-submissions relating to previous reference periods are concerned Monthly reporting will no longer be accepted through historical external channels A presentation of the main changes and the related schedule is available below. A user guide detailing the submission modalities for monthly reports as well as the new naming convention will be made available during July. We will soon communicate on the applicable deadlines for quarterly and annual reporting. For any questions, please contact edesk@cssf.lu. 21 June 2024 EBA ITS reports Migration to eDesk /S3 channels Studies and reports PDF (362.9Kb) Relevant for Credit institutions EBA ITS reports Migration to eDesk/S3 channels Agenda Context Main changes Presentation of the new eDesk/S3 process Planning of the migration from external channels to eDesk/S3 21 juin 2024 EBA ITS Reports 2 Context Since the eDesk go-live in 2019, the CSSF aims at directly communicating and exchanging information and data with the professionals. As a matter of fact, several procedures adressed to bank professionals have already been made available through the eDesk portal : AML/CFT questionnaire Long Form Report High earners XBRL report ABBL questionnaire / study ... In order to harmonise the reports collection procedures, all the FINREP COREP reports will be gradually integrated into the eDesk/S3 channel counting from the September 1st, 2024. 21 juin 2024 EBA ITS Reports 3 Main changes eDesk : two submission channels eDesk : Manual upload S3 : Automated process New naming convention (XBRL file and .zip file) eDesk : CFEREP-B00000XXX-YYYY-MM-LCRDAX-L-N.xbrl - .zip S3 : CFEREP-B00000XXX-YYYY-MM-LCRDAX-L-N_UUID.xbrl /.zip UUID : Unique identifier following the RFC4122 standard File encryption not needed anymore Follow up of regulatory reporting made easier by A dedicated dashboard in eDesk providing details on the reporting obligation, submission, validation results accessible by any entitled user of the entity Notifications : management of its own contact list using a new role in eDesk « Bank prudential report responsible » Communication of warnings justifications by entities directly via eDesk 21 juin 2024 EBA ITS Reports 4 Presentation of the new COREP /FINREP procedure via eDesk/S3 Preliminary step : initial set-up of the eDesk / S3 channel For the S3 process, the entity shall create its bucket as described in the S3 user guide The entity is responsible for creating and maintaining its contacts list regarding the EBA ITS reports The advanced user shall grant the role « Bank prudential supervision responsible » to the person responsible within the entity The « Bank prudential supervision responsible » will create and maintain the list of contacts within the entity to receive reminders and notifications Automated submission via S3 or manual submission via eDesk Technical validation Check of the naming convention Check of the scope and expected accounting version XBRL validation Check against XBRL rules according to EBA Check against the national rules eDesk dashboard Access to all the submissions and details in the eDesk procedure whether it has been submitted via eDesk or S3 Justification of warnings directly through the eDesk application Possibility to consult all the versions submitted 21 juin 2024 EBA ITS Reports 5 Planning of the migration from external channels to eDesk/S3 XBRL report XBRL corrective reports of previous reference periods (previously submitted through external channels) July August ALM / LCRDA Monthly reporting September October November December January External channels eDesk/S3 31/08 31/07 30/06 As of 1st September, all monthly reportings (ALM and LCRDA) shall be submitted through S3/eDesk The reference period of August 2024 will be reported with respect to the usual deadline through eDesk/S3 All corrective reports of previous reference periods previously submitted through external channels 21 juin 2024 EBA ITS Reports 6 Planning of the migration from external channels to eDesk/S3 Reports type Type of version Reference date Submission date Channel Monthly reports Initial version / corrective data Until « 31/07 » reference period Up until end of August 2024 External channels Monthly reports Initial version Starting from « 31/08 » reference period From 1st September 2024 eDesk/S3 Monthly reports Corrective data All reference periods From 1st September 2024 eDesk/S3 21 juin 2024 EBA ITS Reports 7 For any questions, please contact edesk@cssf.lu