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CRR II: acarda ensures full compliance for users of the acarda platform by April 2021.

Frankfurt 05. Januar 2021 – By the end of Jun 2021 the updated Capital Requirement Regulation (CRR II) will come into force. The goal of the EU regulation is to introduce a more risk-sensitive framework for management credit risks. One of the key outcomes of CRR II will be a stricter client reporting and disclosure regime. The amendments will not only impact the banking sector but also affect investment managers and their CRR-related client reporting procedures.

Look-through of investment funds is one of the key topics under CRR II, as the new fallback risk weight for opaque funds is increasing by a factor of 12,5. Therefore, investment managers are expected to have look-through data with higher granularity. The same level of granularity will be required for fund-of-funds structures, i.e. for target funds managed by third party companies. acarda is fully compliant with all CRR II requirements. The successful CRR module of our regulatory acarda platform, which also covers reports such as Solvency II, AIFMD and PRIIPS/MIFID including the look through data, provides the basis.

The CRR module offers the following features.

1 Detailed calculation of credit risk in accordance with CRR I with adjustment to CRR II by April 2021.

2 According to the analysis of the reporting template, arep is already in line with CRR 2 requirements according to ITS Annex 1 and Annex 24. This ensures the continuous production of the following templates including all relevant data points and key figures C01.00 (CA1, Own Funds), C02.00 (CA2, Own Funds Requirements), C07.00 (CRR and CCR), C09.04 (Countercyclical Buffer), C22.00 (FX Risk), C34.01 (Derivatives), C34.06 (Counterparties for Derivatives), C34.09 (Types of Derivatives), C25.00 (CVA), C33.00 (Government Exposure), C72.00 (LCR)

3 Effective usage of standard templates for Solvency II TPT, WM CRR as input for the review of external funds. Comprehensive delivery of all necessary standard templates for customer reports such as:

  • Country Exposure for calculation of the Countercyclical Buffer (WM Template and/or C09.04)
  • Solva report including currency composition (WM Template and/or C22.00)
  • Own Fund Deduction Report including the CVA figures (WM Template and/or C07.00)
  • Liquidity Reporting (C 72.00 – LIQUIDITY COVERAGE – LIQUID ASSETS)
  • Reporting on “Items associated with particular high risk” relevant templates are C02.00, C09.01 or a customized template
  • GroMiKV (BVI Template)

Due to the high level of transparency with regard to data management, technical calculation, and the creation and validation of reports, the acarda platform is already qualified for auditing by external auditors. Finally, while according to our assessment the ITS templates listed in (2) are suitable for disclosure of investment funds data, their actual production will depend on investor demand. To support the reporting requirements outlined in (2) a “Data Exchange” template will be defined in such a way, as to cover all the datapoints relevant for production of templates in point (2). By combining the standard client reporting templates and the provision of data necessary for the regulatory templates (3) full CRR 2 compliance will be ensured for our clients by April 2021.

We gladly advise you on futher details.

Press contact
Jessica Schreiner

Phone:+49 15 25 47 62 361
Email: jessica.schreiner@acarda.de

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Over the past few days we have been asked if acarda is affected by the security breaches related to Microsoft Exchange Server security vulnerabilities.

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ESMA published final guidance on Article 25 of AIFMD to monitor Leverage risk in AIFs. Be prepared with acarda.

The European Securities and Markets Authority (ESMA) published the final guidance on leverage risk in AIF under the Article 25 of the AIFMD (Directive 2011/61/EU) on 17 December 2020.

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New PRIIPs RTS confirmed by EIOPA. What to consider now.

After the revised RTS (Regulatory Technical Standards) for PRIIPs have already been adopted by ESMA and EBA, they have now also been confirmed by EIOPA.

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On 4 February 2021, the European Supervisory Authorities (ESA) published their final report on the Regulatory Technical Standards (RTS) for SFDR. This results in a number of updates that urgently need to be taken into consideration in the compliance reporting.

To keep you up to date, we have summarised the most important upcoming changes and our recommendations for action.

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SFDR: new MiFID II EMT version 3.1 required by 10/03/2021.

SFDR: new MiFID II EMT version 3.1 required by 10/03/2021.

acarda upgrades its reporting platform with a SFDR module with scoring, classification and the publication functions according to SFDR Level 1 and 2.

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