Reporting requirements related to resolution

The Financial Stability Authority regularly collects information from the credit institutions and investment firms under its remit

for the purposes of drafting resolution plans
and setting and monitoring the Minimum Requirement for Own Funds and Eligible Liabilities (MREL).

Resolution reporting is comprehensive, including information on the institutions’ debt structure, requirements for own funds, the assessment of the criticality of their operations, participation in financial market infrastructure and the key information systems used.

Reporting based on standard forms and templates constitutes the foundation for the information needs associated with resolution planning but, in addition, the Authority can issue separate information requests to a specific institution or general requests to all institutions. For example, the requests may relate to the focus areas for planning work, which are determined annually.

As a rule, the FFSA collects reports for planning work either annually or every two years. The frequency depends on whether an institution has been assessed as needing to exercise resolution powers in a potential crisis. Data is collected to monitor the MREL requirement every quarter to ensure effective monitoring.

Authorities exchange information

The FFSA works closely with the Financial Supervisory Authority. The FFSA also makes extensive use of the data collected by the Financial Supervisory Authority.

Provisions on the exchange of information between authorities are laid down in legislation and in the form of a cooperation arrangement that specifies it. The effective exchange of information between the authorities reduces their reporting burden.

The FFSA applies EU guidelines

The FFSA applies the technical specifications, data collection tables and other guidelines drawn up by the European Banking Authority (EBA) and the Single Resolution Board (SRB) when it collects data.

As part of the cooperation between European authorities, the FFSA relays the information it collects to the EU authorities (EBA and SRB) and the Financial Supervisory Authority.

Institutions receive information about requirements in good time

The FFSA provides institutions with details about the information required at any given time well before the start of the data collection cycle for resolution planning. Institutions also receive detailed instructions and timelines for reporting this information.