On 7 June 2012, the European Banking Authority (EBA) released draft Implementing Technical Standards setting out supervisory reporting requirements for the Basel III liquidity rules: the Liquidity Coverage Ratio and the Net Stable Funding Ratio.
Based on the current timetable, all credit institutions and investment firms that deal on their own account or underwrite financial instruments will have to comply with these reporting requirements from 1 January 2013. The default position is that firms will need to report on both a consolidated and individual basis.
Some of the data that need to be reported are supplementary to current Corporate Reporting (COREP) and Financial Services Authority (FSA) reporting and firms now face a significant challenge to be ready in time.
Firms face significant challenges relating to data requirements, IT systems, reporting processes, strategic funding decisions and their overall liquidity management framework, which need to be considered without delay. We are working with our clients to prepare for the Basel III and other reporting requirements in the following ways: