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EBA publishes questions and answers on FINREP

The European Banking Authority (EBA) has published answers to the following
questions regarding the single rulebook:

  • whether lending institutions must obtain a legal opinion in order to rely on their credit protection techniques for the purposes of the Capital Requirements Regulation (CRR) and the form such an opinion should take (Q 23);
  • the application date for financial reporting requirements (FINREP) which it is clear will not be postponed to 31 December 2014 (Q 26); and
  • differences between the Standardised and Internal Ratings Based approaches in determining whether an exposure is in default (Q 58).

 Related Link:

http://www.eba.europa.eu/single-rule-book-qa?p_p_id=questions_and_answers_WAR_questions_and_answersportlet&p_p_lifecycle=0&p_p_state=normal&p_p_mode=view&p_p_col_id=column-1&p_p_col_pos=1&p_p_col_count=2&_questions_and_answers_WAR_questions_and_answersportlet_jspPage=%2Fhtml%2Fview.jsp&_questions_and_answers_WAR_questions_and_answersportlet_viewTab=1&_questions_and_answers_WAR_questions_and_answersportlet_statusSearch=1&_questions_and_answers_WAR_questions_and_answersportlet_currentTab=1#search

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