QA2020-170 - CFR T20.05 – Critical functions – Wholesale Funding

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Feb 01, 2024
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Resolution Reporting Subject Matter Guidance
Guidance Documents Critical-Functions
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QA2020-170

Question


If this is the case, and having into account that wholesale activities refer to lending and borrowing in wholesale markets (with financial counterparties) and that these counterparties usually don`t have the residence in the country sub-region, how should institutions fill this template for the Sub-Region Level? We mean, should it be no reported (considering that this counterparties haven`t the residence in this region), or otherwise the Wholesale Funding in the Sub-Region Level should be reported as in the Member State Level (the same figures in both CFTs: country sub-region and Member State)?


Response


The SRB Guidance on the 2020 Critical Functions Report states the following: “The ISO 3166-1 alpha-2 identification of the country or geographic area for which the information is provided and in which the institution or group is active, Please select from the predefined list of countries or areas (including region, EU and global). For information at the level of a Member State/country (MS-CFR), please select a country. For other levels of aggregation, please select the relevant geographic area (for example, when the relevant market is regional, please select “region”. The name of the region should be filled in r0060 – G.5.1).” According to the guidance, the bank shall report at the country level, and only at the regional level when the relevant market is regional.