Updates on Submissions of ITS on Supervisory Reporting Data

Circular Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Circular to Credit Institutions and Foreign Branches outlining updates on submissions of ITS on Supervisory Reporting data The Authority is hereby issuing a communication to all credit institutions and foreign branches outlining implementation of updates on resubmissions of ITS on Supervisory Reporting data through the Licence Holder (LH) Portal. Keeping track of all submissions and resubmissions of Supervisory Reporting data made by institutions has been increasingly important for supervisory processes over the past few years. This is because this information is valuable in identifying and analysing the presence of adequate controls within institutions before information is submitted to the Authority. Against this background, institutions are being notified that whenever a Supervisory Reporting resubmission is made through the LH Portal, the user will be prompted to provide a reason for the resubmission. In view of this, users will be required to select a reason for the specific resubmission from a drop-down menu, which includes most common causes for resubmissions. In addition, institutions will also be required to provide additional comments on the selection made, in free text. Both fields will be mandatory for resubmissions. The documents LH Portal for Credit Institutions and LH Portal for Branches on the Supervisory Reporting webpage have been updated accordingly to include additional information on these newly implemented updates and on the details expected to be provided with each resubmission. This new feature in LH Portal will be launched on 3 September 2020. Institutions are being informed that whilst major service disruption is not being anticipated, users may experience short intermittent incidents on the day. For any queries, kindly contact Bankingdata@mfsa.mt. 27 August 2020