Quality of reports on special credits management

News
Date 28 January 2013

DNB is closely monitoring the quality of quarterly reports. It is currently focusing on special credits management and related provisions as well as capital buffers.

Rapportages

Each quarter, DNB calls for extra attention to the quality of reports, with the focus on a specific theme. This time the focus is on the development, nature, seriousness and results of special credits and related provisions and capital buffers, i.e. the COREP and FINREP quarterly reports as at 31 March 2013.  
 

Scrutiny
By homing in on a specific theme, DNB wants to achieve several goals at once. First, it wants to give risk managers and reporting officers the opportunity to carefully examine whether the report gives an accurate picture of the current situation. Banks can scrutinise the chosen theme again during internal checks of the reports and when signing off on them. This extra effort will improve the quality of the reports. During the course of 2013, DNB will also ask the banks for more detailed information about special credits management. By specifically focusing on the management of special credits in these first quarterly reports and hence providing an adequate supply of good information, banks can save time down the road.
 
Fewer questions later on
DNB will be closely monitoring the quality of the information in the reports submitted by banks. If banks supply reliable and mutually comparable information, this will promote communication with the supervisory authority and between the banks themselves. And that means they won’t have to answer as many questions from the supervisor at a later date.

 

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