From 2013, financial institutions in the EU will have to comply with uniform reporting requirements for the first time. All financial institutions will have to submit the same reports to the national regulatory authorities on the same dates. This harmonisation of requirements is the key element of the new reporting regulations. However, further regulations are being developed by the European Banking Authority (EBA).
Legal background and dates
The new regulatory requirements, which will probably come into force on 1 January 2013, are based on the "Basel III" reform package of the Basel Committee of the Bank for International Settlements (BIS). Basel III was a reaction of the banking authorities to the worldwide economic and financial crisis. In 2011,...
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