Reporting: resolution planning and MREL
In order to ensure effective crisis management, the Debt Office produces a resolution plan for each bank and financial institution in Sweden and sets minimum requirements for own funds and eligible liabilities (MREL). To do this, we require certain information from the banks and institutions.
Banks, credit market companies, and those investment firms that are subject to the Resolution Act (the institutions below) are required to submit information so that the Debt Office can develop resolution plans for all the institutions. The information must be submitted once a year via Finansinspektionen’s reporting system, FIDAC (Finansinspektionen Data Collection). The Debt Office subsequently obtains this data from Finansinspektionen. All data must be submitted in XBRL format.
The document Reporting for resolution planning 2023 specifies what information the institutions are to submit. It also contains Finansinspektionen’s instructions for reporting.
Update! – As of 2023, the European Banking Authority (EBA) requires institutions to include a positive filing indicator for all templates that are to be reported according to the instructions in Reporting for resolution planning 2023. For all templates that are not to be reported according to the instructions, a negative filing indicator must be included.
Incorrectly reported information hinders the agency’s work. The Debt Office therefore emphasises the importance of institutions ensuring beforehand that the information they submit to the agency is correct.
Reporting for the minimum requirement for own funds and eligible liabilities
Each quarter the Debt Office retrieves information, through Finansinspektionen, in order to monitor compliance with MREL. The quarterly monitoring covers the institutions that are to be managed through resolution. The institutions report to Finansinspektionen in accordance with the Debt Office’s regulations governing resolution (RGKFS 2015:2) and Commission Implementing Regulation (EU) 2021/763.
Who is affected?
Finansinspektionen provides a list of the companies covered by the Resolution Act (2015:1016). Here, you will see which financial institutions are required to report.