Regulatory Alerts2018-04-11
Extension of Deadlines for ICAAP/ILAAP Reporting
The Bank of Italy has extended the submission deadline for the ICAAP/ILAAP report to June 30, 2018, for less significant banks under ECB Regulation 468/2014 and for SIMs. This extension applies to reports prepared in accordance with EBA Guidelines EBA/GL/2016/10 as implemented through the consultation on updating Circular 285. The change addresses new content and presentation requirements for these prudential control reports.
Extension of Deadlines for ICAAP/ILAAP Reporting.
With the consultation document published on April 6, 2018, regarding the update of Circular 285 "Supervisory Provisions for Banks," modifications to the regulations concerning the "Prudential Control Process" (Part One, Title III, Chapter 1 of Circular No. 285/2013) were placed under consultation, among other things.
Considering the new developments regarding the content and methods of presentation of the ICAAP/ILAAP report, it is communicated that, for less significant banks within the meaning of ECB Regulation (EU) No 468/2014 and for SIMs, the deadline for submitting the aforementioned report is extended to June 30, 2018.
The report to be produced by the aforementioned deadline of June 30, 2018, will be drawn up in conformity with the EBA Guidelines EBA/GL/2016/10 of the European Banking Authority, as transposed by the measure subject to the consultation. 1