EBA publishes CRR ‘quick fix’ Guidelines and draft ITS

For context, the Capital Requirements Regulation (“CRR“) ‘quick fix’ is part of a series of measures taken by European institutions to mitigate the impact of Covid-19 on institutions across EU Member States. It introduces adjustments to the CRR, including temporary measures, intended to enhance credit flows to companies and households. It also amends regulatory requirements that have an impact on supervisory reporting. 

The EBA has now published its Final Report on the Guidelines on supervisory reporting and disclosure requirements which clarifies how to report the CRR ‘quick fix’ amendments that have an impact on templates related to the leverage ratio, own funds and credit risk. The clarification applies until the reporting reference date of 31 May 2021 and until and including the last disclosure reference date prior to the 28 June 2021.

The EBA has also published its Final Report on the Guidelines amending Guidelines EBA/GL/2018/01 on uniform disclosures under the CRR on the transitional period for mitigating the impact of the introduction of IFRS 9 on own funds to ensure compliance with the CRR ‘quick fix’. These Guidelines specify how disclosures imposed with CRR 2 and the CRR ‘quick fix’ should be made.

Finally, the EBA has published its Final Report on draft implementing technical standards on supervisory reporting under the CRR.