Did you know that the EU’s Single Resolution Board (SRB) has four key resolution tools it can use if a bank is failing? These aim to maintain banks’ critical functions and financial stability at minimal cost to taxpayers.
While updates have been trickling in in recent weeks, there’s now official news on the European Single Electronic Format (ESEF) mandate. The European Commission (EC) has published a list of countries that have opted for a one-year ESEF postponement due to Covid-19, pushing its start to January 2022.
Ukraine is gearing up for XBRL-based financial reporting for the first time in 2021. With a new, tailored taxonomy and data collection system in place, the country is looking forward to improved reporting and structured financial data in a single electronic format that will be comparable and compatible with EU and international standards.
How would Europe’s banks fare under seriously adverse conditions – for example if the Covid-19 pandemic is prolonged? We’re set to find out; on 29 January the European Banking Authority (EBA) launched the 2021 EU-wide stress test, and released the macroeconomic scenarios for the test.
This year was set to see the final preparations for the ESEF mandate to launch across all EU member states, and the early months of 2020 started bright with ESMA publishing the ESEF conformance suit, an active market of low-cost ESEF tools developing, and GLEIF giving us a glimpse into the future of digital trust with a sample ESEF report which […]
The European Banking Authority (EBA) has issued a revised list of validation rules in its Implementing Technical Standards (ITS) on supervisory reporting. Previously published rules which have been deactivated due to error or IT problems have been highlighted.
This week the European Securities and Markets Authority (ESMA) published a supportive response to the IFRS Foundation’s consultation on establishing a new Sustainability Standards Board (SSB).
The European Securities and Markets Authority (ESMA) this week published the 2020 ESEF XBRL taxonomy files and updated the ESEF Conformance Suite in order to facilitate the implementation of the upcoming ESEF regulation.
The past year has seen growing consensus on the need for non-financial reporting standards in order to mitigate climate-related financial risks and help investors divert capital towards more sustainable ends. However, sustainability reporting is a complicated task, and a number of difficult questions need to be answered before effective standards can be established.
Revised regulation recently gave the European Securities and Markets Authority (ESMA) some new so-called “convergence” powers to identify and co-ordinate supervisory priorities in response to key risks across the Union.
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