These draft amending ITS aim at specifying the format, structure, contents list and annual publication date of the supervisory information to be disclosed by competent authorities.
The amendments to the ITS aim to reflect the changes to the EU legal framework under (Capital Requirements Regulation) CRR2 and Capital Requirements Directive (CRD V), in particular those related to supervisory reporting for investment firms.
Moreover, by amending the existing supervisory disclosure framework, the draft ITS shall enhance the quality and comparability of the reported data by supervisors and enhance transparency by providing the market with more information.
The consultation will end on 9 March 2023.
The IDD prescribes that changes to the minimum amounts shall be based on the rate of inflation.
As the Harmonised Index of Consumer Prices (HICP) rose by 20.32% between 1 January 2018 and 31 December 2022, the new base amounts would be as follows:
- The base PII amount applying to each claim is to increase from EUR 1 300 380 to EUR 1 564 610
- The base aggregate PII amount per year is to increase from EUR 1 924 560 to EUR 2 315 610
- The base financial capacity amount is to increase from EUR 19 510 to EUR 23 480
The consultation will end on 6 May 2023.
