Decision (EU) 2023/1680 of the European Central Bank of 17 August 2023 on the reporting of funding plans of supervised entities by national competent authorities to the European Central Bank (ECB/2023/19) (recast)

New Decision (EU) 2023/1680 of the European Central Bank (ECB) as regards the reporting of „funding plans of supervised entities by national competent authorities“ to the ECB was published in the Official Journal (OJ) of the EU. This decision essentially establishes the process for reporting funding plans of credit institutions to the ECB collected by national competent authorities in accordance with the EBA Guidelines on harmonised definitions and templates for funding plans of credit institutions under Recommendation A4 of ESRB/2012/2. The decision thereby entirely replaces Decision ECB/2017/21 on same issue.
##### The Decision specifically
– sets out in-scope firms that must report their funding plans to NCAs which must in turn report these plans to the ECB;
– defines the „remittance dates“ (by when must the funding plans be reported to the ECB by NCAs);
– describes the obligations of NCA’s to perform initial data quality checks on the plans submitted by supervised entities;
– defines the format in which data shall be submitted by NCAs to the ECB, namely in eXtensible Business Reporting Language ( XBRL) and in accordance with above noted EBA guidelines;
– requires the identification of the Legal Entity Identifier (LEIs) of supervised entities on the reported data, and
– stipulates notification requirements of NCA’s in case of a lack of data quality and / or resubmissions of the plans.
According to the recital, the 2017 decision has been entirely replaced due to the fact that it has been modified several times in the past and was now changed again to adjust the submission process. The recast is thus primarily for clarification purposes.