Frequency of disclosure and disclosure dates
1. Disclosures referred to in Article 10(1) shall be made on a quarterly basis. Disclosures referred to in Article 10(2) shall be made on a semi-annual basis.
2. Disclosures referred to in Articles 11(1) and 14(1) shall be made on a semi-annual basis. Disclosures referred to in Articles 11(2) and 14(2) shall be made annually.
3. Disclosures referred to in Article 12(1) shall be made on a quarterly basis. Disclosures referred to Article 12(2) shall be made on a semi-annual basis.
4. Disclosures referred to in Article 13(1) shall be made on a semi-annual basis. Disclosures referred to in Article 13(2) shall be made annually.
5. Disclosures referred to in Article 15 shall be made as follows:
(a)
on a semi-annual basis where the disclosing entity is a large institution;
(b)
on an annual basis where the disclosing entity is neither a large institution nor a small and non-complex institution.
6. For the purposes of public disclosure, disclosing entities shall observe the following:
(a)
annual disclosures shall be published on the same date as the date on which institutions publish their financial statements or as soon as possible thereafter;
(b)
semi-annual and quarterly disclosures shall be published on the same date as the date on which institutions publish their financial reports for the corresponding period, where applicable, or as soon as possible thereafter;
(c)
any delay between the date of publication of the disclosures required under this Title and the relevant financial statements shall be reasonable and, in any event, shall not exceed any timeframe set by the competent authorities pursuant to Article 106 of Directive 2013/36/EU of the European Parliament and of the Council ( 6 ) .
Disclosure of key metrics on own funds and eligible liabilities and the requirements for own funds and eligible liabilities by resolution entities
1. Entities identified as resolution entities that are a G-SII or part of a G-SII shall make the disclosures required in point (h) of Article 447 of Regulation (EU) No 575/2013 and in points (a) and (c) of Article 45i(3) of Directive 2014/59/EU in accordance with the template EU KM2 of Annex V to this Regulation and the relevant instructions set out in Annex VI to this Regulation.
2. Entities identified as resolution entities that are neither G-SIIs nor part of a G-SII shall make the disclosures required in points (a) and (c) of Article 45i(3) of Directive 2014/59/EU in accordance with the template EU KM2 of Annex V to this Regulation and the relevant instructions set out in Annex VI to this Regulation.
Disclosure of composition of own funds and eligible liabilities by resolution entities
1. Entities identified as resolution entities that are a G-SII or part of a G-SII shall make the disclosures required in accordance with points (a), (c) and (d) of Article 437a of Regulation (EU) No 575/2013 and the disclosure on the composition of own funds and eligible liabilities required in point (b) of Article 45i(3) of Directive 2014/59/EU in accordance with the template EU TLAC1 of Annex V to this Regulation and the relevant instructions set out in Annex VI to this Regulation.
2. Entities identified as resolution entities that are neither G-SIIs nor part of a G-SII shall make the disclosure on the composition of own funds and eligible liabilities required in accordance with (b) of Article 45i(3) of Directive 2014/59/EU in accordance with the template EU TLAC1 of Annex V to this Regulation and the relevant instructions set out in Annex VI to this Regulation.
Disclosure of key metrics and internal loss-absorbing capacity by entities that are not themselves resolution entities
1. Entities that are material subsidiaries of non-EU G-SIIs and that are not themselves resolution entities shall make the following disclosures in accordance with the template EU ILAC of Annex V to this Regulation and the relevant instructions set out in Annex VI to this Regulation:
(a)
disclosures required in accordance with points (a), (c) and (d) of Article 437a of Regulation (EU) No 575/2013;
(b)
disclosures required in accordance with point (h) of Article 447 of Regulation (EU) No 575/2013;
(c)
disclosures required in accordance with points (a) and (c) of Article 45i(3) of Directive 2014/59/EU;
(d)
disclosures regarding the composition of own funds and eligible liabilities required in accordance with point (b) of Article 45i(3) of Directive 2014/59/EU.
2. Entities other than material subsidiaries of non-EU G-SIIs that are not themselves resolution entities shall make the following disclosures in accordance with the template EU ILAC of Annex V to this Regulation and the relevant instructions set out in Annex VI to this Regulation:
(a)
disclosures required in accordance with points (a) and (c) of Article 45i(3) of Directive 2014/59/EU;
(b)
disclosures regarding the composition of own funds and eligible liabilities required in accordance with point (b) of Article 45i(3) of Directive 2014/59/EU.
Disclosure of creditor ranking by non-resolution entities
1. Entities that are material subsidiaries of non-EU G-SIIs and that are not themselves resolution entities shall make the disclosures on maturity profile and ranking in normal insolvency proceedings set out in points (a) and (b) of Article 437a of Regulation (EU) No 575/2013 and point (b) of Article 45i(3) of Directive 2014/59/EU, in accordance with the template EU TLAC2a of Annex V to this Regulation and the relevant instructions set out in Annex VI to this Regulation.
2. Entities other than material subsidiaries of non-EU G-SIIs that are not themselves resolution entities shall make the disclosures on the maturity profile and ranking in normal insolvency proceedings set out in point (b) of Article 45i(3) of Directive 2014/59/EU in accordance with the template EU TLAC2b of Annex V to this Regulation and the relevant instructions set out in Annex VI to this Regulation.
Entities referred to in the first subparagraph of this paragraph may choose to use template EU TLAC2a instead of EU TLAC2b to disclose information on the maturity profile and ranking in normal insolvency proceedings required in accordance with point (b) of Article 45i(3) of Directive 2014/59/EU.
Disclosure of creditor ranking by resolution entities
1. Entities identified as resolution entities that are G-SIIs or part of a G-SII shall make the disclosures on maturity profile and ranking in normal insolvency proceedings set out in points (a) and (b) of Article 437a of Regulation (EU) No 575/2013 and point (b) of Article 45i(3) of Directive 2014/59/EU, in accordance with the template EU TLAC3a of Annex V to this Regulation and the relevant instructions set out in Annex VI to this Regulation.
2. Entities identified as resolution entities that are neither G-SIIs nor part of a G-SII shall make the disclosures on the maturity profile and ranking in normal insolvency proceedings set out in point (b) of Article 45i(3) of Directive 2014/59/EU, in accordance with the template EU TLAC3b of Annex V to this Regulation and the relevant instructions set out in Annex VI to this Regulation.
Entities referred to in the first subparagraph of this paragraph may choose to use template EU TLAC3a instead of EU TLAC3b to disclose information on the maturity profile and ranking in normal insolvency proceedings required in accordance with point (b) of Article 45i(3) of Directive2014/59/EU.
Disclosure of main features of own funds and eligible liabilities
Entities identified as resolution entities that are G-SIIs or part of a G-SII and entities that are material subsidiaries of non-EU G-SIIs and that are not themselves resolution entities shall make the disclosures set out in point (a) of Article 437a of Regulation (EU) No 575/2013, in accordance with the implementing act referred to in Article 434a of that Regulation.
General rules on disclosure
1. Where disclosing entities may omit one or more of the disclosures in accordance with Article 432 of Regulation (EU) No 575/2013, the relevant rows or columns of the templates or tables laid down in this Regulation may be left empty and the numbering of subsequent rows or columns shall not be altered.
2. Disclosing entities shall clearly note in the relevant template or table the empty rows or columns and the reason of the omission of the relevant disclosure.
3. The qualitative narrative and any other necessary supplementary information accompanying quantitative disclosures in accordance with Article 431 of Regulation (EU) No 575/2013 shall be adequately clear and comprehensive, enabling users of information to understand the quantitative disclosures and shall be placed next to the templates, which they describe.
4. Disclosing entities shall observe the following regarding the disclosure of numerical values:
(a)
quantitative monetary data shall be disclosed using a minimum precision equivalent to millions of units;
(b)
quantitative data disclosed as ‘Percentage’ shall be expressed as per unit with a minimum precision equivalent to four decimals.
5. Disclosing entities shall accompany the information disclosed by the following:
(a)
disclosure reference date and reference period;
(b)
disclosure currency;
(c)
name and, where relevant, Legal Entity Identifier (LEI) of the disclosing entity;
(d)
where relevant, accounting standard; and
(e)
where relevant, scope of consolidation.
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.
