31 March 2015 — News
From 1 January 2015, Article 89 of the CRD IV requires credit institutions to report information on a country by country basis. In April 2014, FEE submitted questions on Country-by-Country reporting to the European Banking Authority (EBA) via its Single Rule Book Q&A tool. This FEE Alert provides a summary of the answers provided by EBA, as advised by the European Commission when needed.
Country by Country Reporting under Article 89 of the CRD IV means that European Union Member States shall require institutions to disclose by Member State and by third country where they have an establishment, on a consolidated basis for the financial years:
This FEE Alert helps to clarify questions on the interpretation of this Article. FEE previously raised concerns about the usefulness of Country by Country reporting under CRD IV and the interaction with IFRS in letters to the EBA (February 2014) and to the European Commission (September 2014).