Circular CSSF 23/830

The CSSF published Circular CSSF 23/830, clarifying the public disclosure framework applicable to credit institutions and CRR investment firms (Pillar 3).
EBA has repealed three guidelines (EBA/GL/2014/03, EBA/GL/2016/11 & EBA/GL/2017/01) related to disclosures by institutions, as they overlap with the disclosure framework implemented by the Commission Implementing EU Regulation 2021/6371 applicable since 28 June 2021.
As a result, the CSSF has decided to repeal three corresponding circulars on disclosure requirements under EU Regulation 575/2013 and liquidity coverage ratio disclosure – these circulars are CSSF 15/605, CSSF 17/673, and CSSF 18/676, and their repeal is effective immediately.
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EBA also released guideline EBA/GL/2022/13, amending its guideline EBA/GL/2018/10 on the disclosure of non-performing and forborne exposures by financial institutions. The amendment clarifies that the guideline will not apply to large and listed institutions, which are already subject to disclosure requirements under the ITS on Pillar 3 disclosures. However, the guideline will continue to apply to small and non-complex listed institutions and non-listed institutions. This amendment aims to maintain external stakeholders‘ access to relevant information on non-performing and forborne exposures of all types of institutions, except for small and non-complex institutions that are non-listed, in a post COVID-19 environment and considering the current geopolitical developments. The amendment to the guideline will ensure that all EU institutions continue to disclose relevant information regarding non-performing and forborne exposures to achieve transparency on the credit quality of the exposures held by all institutions.
Hence, the extent to which the corresponding Circular CSSF 20/751 is applicable has been adjusted by the present Circular CSSF 23/830. Please see Annex 1 with tracked changes in red of Circular CSSF 20/751 as amended by Circular CSSF 23/830 (starting on page 5) for information on the specific changes made to Circular CSSF 20/751.