ALMIS International are ready for COREP reporting but banking firms can breathe a sigh of relief as the new Regulation deadlines are delayed.
The EBA has today announced that the submission dates for the first set of COREP reports will be postponed from April/May 2014 to end June 2014, there is no change to the reference dates.
The postponement affects the following reports:
The first quarterly reports (own funds, large exposures, leverage ratio, and net stable funding ratio) with reference dates as of 31 March 2014 are now due end June 2014, as opposed to end May 2014.
The first monthly liquidity reports with reference dates of 31 March 2014 and 30 April 2014 are now due end of June 2014 as opposed to April 2014.
The first reporting reference date for asset encumbrance will be 31 December 2014 and the first remittance date will be 11 February 2015.
For more information on this update, see the EBA website
Georgina Macleod, Client Support Manager, commented ‘ALMIS is ready for the first submission but there were so many technical difficulties and challenges facing firms that the delay will be welcomed by our clients. This gives us all a good opportunity to now implement the regulations properly’