Resolution reporting to CBC – CIR package – 30 April 2021Salvus Team
The new regulatory obligation Regulation (EU) 2018/1624, “the CIR”, sets its submission deadline on the 30th of April 2021. The new regulation captures European Investment Firms and Credit Institutions. Therefore, Cyprus Investment Firms (CIFs) with a capital requirement of 730,000 EUR are now required to comply with the resolution reporting regulation and submit to the Central Bank of Cyprus (CBC) the “CIR templates”.
XBRL reporting is mandatory for the submission of the CIR package, using the EBA 2.10 XBRL taxonomy.
This reporting obligation will be added to the CIFs annual reporting obligations.
SALVUS Risk team participated in today’s presentation hosted by the Central Bank of Cyprus (CBC) for Q&As and clarifications on the upcoming resolution templates reporting requirements as per Annex I of the Regulation.
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