15 Irish FIs Select RegPro for CBFSAI's Statistical Regulatory Reporting Overhaul
Fifteen Irish financial institutions have signed up for FRSGlobal’s regulatory reporting tool, RegPro, to help comply with the changes to existing Central Bank and Financial Services Authority of Ireland’s (CBFSAI) reporting obligations.
The change, which requires data from as early as May 2010 to be submitted at the end of June 2010, is in line with European Central Bank (ECB) regulation No. 25/2009 concerning the balance sheet of the monetary financial institutions (MFI) sector. The reports have been redesigned to be more closely aligned with euro-area statistical requirements, and must now be submitted electronically. The introduction of 30+ new report templates signifies major changes to the CBSFAI returns.
Mark Piper, vice president UK, Ireland and Middle East and Africa (MEA), FRSGlobal: “Firms with international operations in all the European member state countries will be impacted by the ECB changes to different degrees, but all with a common deadline of June 2010. FRSGlobal is implementing solutions all around Europe to help firms meet these requirements ahead of the deadline with our industry leading solution and domain expertise.”