Resolution reporting to CBC – CIR package – 30 April 2023Salvus Team
As per Regulation (EU) 2018/1624, the CIR, the regulatory obligation submission deadline is set on the 30th of April 2023. The CIR concerns European Investment Firms and Credit Institutions. Therefore, Cyprus Investment Firms (CIF) with a capital requirement of 750,000 EUR are required to comply with the resolution reporting regulation and submit to the Central Bank of Cyprus (CBC) the CIR templates.
CBC requests from these CIF to submit the “CIFCIR-XBRL” form in XBRL format and “CIFADD-EXCEL” in MS Excel format.
It is noted that XBRL reporting is mandatory for the submission of the CIR package, using the EBA 3.2 whereas last year, XBRL taxonomy followed was 3.1.
Firms are requested by CBC to update the resolution department on whether there are any changes in their records, latest by the 28th of February 2023.
The SALVUS Risk Management team through the FINVUS RegTech platform, stand ready to support you to comply with the CIR package forms. FINVUS carries extensive experience in specifying, developing, and delivering regulatory reporting technology solutions. Our team will convert the required in the XBRL format for their timely submission to CBC. We remain at your disposal and should you have any questions, please contact us at email@example.com.