Regulatory Alerts2023-04-18
Instruction No. 2023-I-05 of April 18, 2023 repealing Instruction No. 2020-I-10 of July 15, 2020 on the reporting of prudential financial information related to exposures subject to measures applied in response to the COVID-19 crisis
The Prudential Control and Resolution Authority (ACPR) issued Instruction No. 2023-I-05 to formally repeal Instruction No. 2020-I-10, which previously mandated the reporting of prudential financial information for exposures affected by COVID-19 relief measures. This repeal aligns with the European Banking Authority's conclusion of its COVID-19 reporting guidelines and the end of related regulatory measures. Consequently, regulated entities are no longer required to submit the quantitative information specified in the repealed instruction for submissions made after the December 2022 cutoff.
PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY
Instruction No. 2023-I-05 repealing Instruction No. 2020-I-10 of July 15, 2020 on the reporting of prudential financial information related to exposures subject to measures applied in response to the COVID-19 crisis, as amended by Instruction No. 2022-I-08
The Prudential Control and Resolution Authority, Having regard to the Monetary and Financial Code, particularly Articles L. 612-2 and L. 612-24; Having regard to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012; Having regard to Regulation (EU) No 2015/534 of the European Central Bank of 17 March 2015 concerning the reporting of prudential financial information (ECB/2015/13); Having regard to Implementing Regulation (EU) No 2021/451 defining implementing technical standards regarding prudential information to be provided by institutions, in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council; Having regard to the European Banking Authority (EBA) guidelines on data collection (reporting) and publications regarding exposures subject to measures applied in response to the COVID-19 crisis (EBA/GL/2020/07); Having regard to the European Banking Authority (EBA) press release of December 16, 2022, on the end of COVID-19 measures and the repeal of the guidelines on COVID-19 reporting and disclosure; Having regard to the opinion of the Prudential Affairs Advisory Committee of March 27, 2023, DECIDES
Article 1: Instruction No. 2020-I-10 on the reporting of prudential financial information related to exposures subject to measures applied in response to the COVID-19 crisis, as amended by Instruction No. 2022-I-08, is hereby repealed.
Entities subject to the obligations described in the aforementioned instruction are no longer required to provide the required quantitative information, starting from submissions made after the December 2022 cutoff.
Article 2: This instruction shall enter into application the day following its publication.
Paris, April 18, 2023 The Designated President, Denis BEAU