The CRR according to Basel III/IV (Capital Equivalence Ordinance) determines the reporting requirements regarding the capital adequacy of financial institutions and holding groups. The CRR also adopts the individual regulations implemented in the Solvency Regulation (Solva).
From 30 June 2021, the new CRR II regulations will come into force. The main two requirements for investment managers to meet CRR II reporting requirements to banks are to provide a strict look-throughof investment funds and independent certification of the reports. If this is not met, the risk weight for opaque funds must increase by a factor of 12.5 making funds potentially unattractive to this group of investors.
The VAG regulates the state supervision of insurers and pension schemes operating in Germany. The reporting requirements defined in it are primarily aimed at ensuring that contracts can be fulfilled at all times and that customers are protected.
The German Large Exposures Regulation (GroMiKV — Großkredit- und Millionenkreditverordnung) laid down by the Federal Ministry of Finance defines extended reporting requirements for credit institutions and financial service providers.
When laws and regulations overlap in their scope of application, high demands are placed on the accuracy and transparency of all data and calculations. Solutions must be found that can organise data and generate reports while keeping quality high and time and costs as low as possible.