Read the CySEC Circular C677
Memo #03-2025
CySEC Circular No: C677
Date: 10/01/2025
Subject: Adoption of the European Βanking Αuthority (the ‘EBA’) Guidelines EBA/GL/2024/04 on the resubmission of historical data under EBA reporting framework
Purpose: To bring to the attention of the CIFs the EBA Guidelines EBA/GL/2024/04 which were issued on 08/04/2024.
In Summary:
CySEC has issued the Circular C677 on 09/01/2025 to bring to the attention of the Cyprus Investment Firms (the “CIFs”) the EBA Guidelines EBA/GL/2024/04 which were issued on 08/04/2024, on resubmission of historical data under EBA reporting framework.
CySEC informs that it has adopted the Guidelines, under article 54 of Regulation 2019/2033.
In accordance with Circular C677, the Guidelines apply to all CIFs, as per Article 4(1) of Regulation (EU) 1093/2010, as amended.
The Guidelines are applicable to the supervisory and resolution reporting framework established by the EBA (covering technical standards and guidelines), where financial institutions submit data regularly to the competent and resolution authorities. They also apply when financial institutions choose to voluntarily submit data required by the EBA reporting framework.
Circular C677 refers to the requirements, as per the Guidelines, where financial institutions discover any inaccuracies or errors in the reported historical data.
Financial institutions should introduce corrections into already reported data, which should be submitted to the competent or resolution authorities without undue delay, in case they discover any inaccuracies or errors in the reported historical data.
The obligation for financial institutions to correct the current and historical data for a specific reference date is not alleviated by the passage of time and financial institutions should act in accordance with the Guidelines without undue delay.
Financial institutions should maintain the technical capabilities to submit and resubmit the relevant data using the technical format required by the competent or resolution authorities.
The EBA Guidelines EBA/GL/2024/04 can be found at the following link:
The Regulation 2019/2033 can be found at the following link:
Read the CySEC Circular C677
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