How fair are the new banking regulations coming out of Brussels?

Sharon Bowles, one of the most influential Britons in Brussels, will be talking about this on Monday in London.  She will talk in her keynote address at “Preparing for CRD IV Reporting” about the challenges facing the banking community and how CRD IV will impact on it.  In the forefront of the drive to improve European banking regulation since the financial crisis, Sharon has devoted herself to building a regulatory system which will provide stability in Europe without putting unfair pressure on the City of London.

The keynote address is one of a series of addresses from speakers across the European regulatory community including the European Central Bank and speakers with long experience at the International Monetary Fund and national regulators.

There are only three days before the conference!

Register now

The conference will also be open to registration from 8 a.m. on the day of the event.

Are you ready for the CRDIV mandate?

Important changes in bank reporting under CRD IV, the new Capital Requirements Directive, the European enactment of the Basel III legislation, are due to come into force starting from 1st January 2014.

Time is rapidly running out. Despite this, there is evidence to suggest that few banks are gearing up to ensure that their internal processes are ‘fit for purpose’ for the arrival of the new reporting regime.

One reason is that there is still a great deal of confusion about what the new regulations actually entail. This is particularly true for the XBRL technology and related taxonomies required to turn the new reporting regime into reality. It is expected that those taxonomies will not emerge in their final form until the end of the third quarter of 2013, giving very little time before the first COREP reports need to be submitted on 1st Jan 2014.

The issue is also blurred by the continued political debate in the European Parliament about bankers’ bonuses, making people believe that this is the only issue. Clearly this is not the case.

The CRD IV reporting changes in fact go much deeper.

Under the new CRD IV regulations, all of Europe’s banks will have to file increased amounts of exposure and risk data to their respective regulators. It may seem like an additional burden, but handled properly this new data will not only help the banks to gain a competitive edge, but might also prevent another bank collapse.

The ‘Preparing for CRD IV reporting’ conference on June 17th at the London Hilton on Park Lane provides a timely opportunity for regulators to explain the case for the new regulation and for banks to gain valuable insight into the reporting changes and how they might turn them to their advantage.

The conference focuses squarely on the regulatory aspects of CRD IV/Basel III and the underlying business issues, with passing mention of the technology that will underpin the submission of the enhanced reports.

During the business track, presenters will explore the issue of ROI and how, by implementing the new compliance requirements correctly, banks will have the opportunity to outperform their competitors. At the moment, many banks view the new regime only in terms of additional investment. The ROI session answers these concerns and explains why investment in compliance will be abundantly worthwhile. However, doing it properly is the key, and there are issues that need to be fully thought through, e.g. How can the new reports be pulled together? How are they to be approved and signed off? How can banks ensure that data is consistent across all submissions made to their various regulatory bodies?

Both the business and the technical tracks will be highly interactive, with ample time devoted to Q&A allowing delegates to enter into the discussion. The conference also features three key representatives from the EBA, the body responsible for translating the technical standards from the legislative requirements behind the new reporting regime. There’s a chance to quiz the EBA further about the ITS (Implementing Technical Standards) which is key to the process, yet not expected to be finalised until later this year.

It promises to be an interesting debate.

For more information and registration: http://www.xbrl.org.uk/conference/

XBRL comes of age with Basel III reporting

Europe’s new Basel III capital regulations, newly enacted as CRD IV, will introduce XBRL-based data reporting to new sectors and markets. In what is arguably the biggest upheaval in European banking since the introduction of the Euro, CRD IV will mandate the collection of increasing amounts of banking capital and exposure data throughout the countries of the European Union. For the first time, XBRL will be at the heart of Europe’s financial regulatory systems, joining the tax authorities and business registers who have hitherto been pioneers of XBRL-based business reporting in Europe.

The main players in this drama will be present at a major conference in London on 17 June, “Preparing for CRD IV Reporting”. Chaired by Robert Driver, the British Bankers’ Association’s Policy Expert on COREP and FINREP, the conference will explore the new regulatory environment with speakers from the European Parliament and the European Central Bank, and will discuss the implications of the new regime for both banks and regulators. Presentation topics will include:

  • Regulatory objectives in processing XBRL-based big data
  • Driving financial outperformance through compliance
  • Improving ROI in financial reporting
  • The use of XBRL standards in reducing the reporting burden
  • Ensuring traceability and consistency in XBRL reporting
  • Management challenges around regulatory reporting

Further details….