Insights

Reporting requirements for Leverage Ratio - Are you ready?

The first submission for the UK’s updated leverage ratio framework reporting (entry point LRV002) is approaching with a 30th June 2024 reporting period end. These new supervisory reporting requirements apply to LREQ firms and were introduced by the PRA in 2023 along with enhancements to ICAAP assessments of contingent

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Embrace the Future of ESG Disclosures with Suade's Advanced Regulatory Solutions

Overview Recently, the landscape of "green" activities has undergone significant changes. In the past, guidelines were broad and voluntary, but now new regulations in Environmental, Social, and Governance (ESG) have made climate change a core priority. Global standards like the International Sustainability Standards Board (ISSB) resulting from COP26

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Open Granular Data Standards for European Regulatory Reporting and Beyond

About the Author Neil Mackenzie is the Founder of BIRD Software Solutions and a contributor to open regulatory data standards projects including BIRD governed by the ECB, Fire from Suade Labs, and Transforming Data Collections from the Bank of England. Introduction A paradigm shift is happening right now in European

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BIRD: The Banks’ Integrated Reporting Dictionary

What is BIRD? Banks often face challenges in interpreting and implementing new or updated regulatory frameworks. They must navigate through complex requirements, extract relevant data from their internal systems, and transform it to meet regulatory standards. This process can be confusing, as different banks may interpret regulations differently and use

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A guide to Basel III Endgame: The Strategic Advantage of Early Preparation for Banks

The implementation of Basel III has provided several benefits aimed at financial stability by reducing systemic risk and strengthening the resilience of banks. In the United States, the "endgame" of this regulatory shift presents challenges for banks in interpreting the rules, understanding their impact, and evaluating their IT

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Embracing open source standards to revolutionise regulatory reporting

Embracing Open-Source Standards to revolutionise Regulatory Reporting   In the dynamic and complex world of financial reporting, the imperatives of transparency, accuracy, and efficiency are paramount. As the financial landscape continues to evolve, data standardisation has become a critical tool in unlocking the transformative potential of regulatory reporting (see our latest

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PRA's Dear CEO letter on 2024 Priorities for UK Deposit Takers

11th January 2024  The Prudential Regulation Authority (PRA) issued a thematic letter to CEO’s of UK Deposit Takers, detailing the key priorities for UK deposit-taking firms in the coming year. The primary focus of these priorities revolves around fostering resilient governance, effective risk management, and robust controls within firms

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Analysing Modern Bank Failures: Insights, Implications, and Innovations from the SVB Case Study

Introduction In the classic film 'It's a Wonderful Life,' viewers are introduced to the 'Jimmy Stewart situation' where George Bailey's bank teeters on the edge of disaster, highlighting the fragile nature of trust in financial institutions. This scenario is not simply a

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Turning tides: Seizing the moment to embrace an open standard for regulatory reporting

Introduction In a world of growing data and ongoing regulatory changes, the financial sector faces a big shift, highlighting the need for a reliable data standard. This white paper explores the opportunities of a standardised framework for regulatory reporting, shedding light on why past endeavours fell short in setting up

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A detailed look at the future of data standards for regulatory reporting

Introduction In "The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger," author Marc Levinson explores how a seemingly simple innovation - the shipping container - revolutionized global trade and transformed the world economy. By standardizing the way goods were packed, shipped, and

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