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A total of 135 standard graphs across the eight risk areas were finalised, tested and deployed. A core set of 58 graphs was combined in a standard dashboard for quick access
by supervisors, which in turn
was supported by a tabular risk dashboard and data elements for the Management Information Report. Aggregate data was presented in tabular form for macro-prudential analysis in the fact sheets.
User guides were developed for all standard reports and dashboards, which were supplemented by numerous training sessions and practical demonstrations.
Among the Regulatory Authority priorities in 2016 are
to monitor and adopt the Basel Committee’s deliberations in the areas of revised standardised approaches and to enhance practices in micro and macro- prudential supervision.
Insurance
Revised Insurance Prudential Returns and eXtensible Business Reporting Language (XBRL)
Following a parallel run that was launched in November 2014, which involved extensive field testing with authorised firms and other stakeholders, the revised prudential returns for all insurance firms became effective 1 January 2015. This included the successful implementation of an XBRL platform for insurance firms to submit these revised prudential returns electronically to the Regulatory Authority.
Since the returns collect additional risk-based data, during 2015 the Insurance Supervision team made improvements to
its internal management and financial analysis reporting
to enhance the allocation of supervisory resources and allow the Regulatory Authority to supervise insurance firms more effectively.
Financial Analysis
Finalised Returns
and Development of Management Reports
The final set of returns that were added to the Banking iFile system for reporting periods that ended on 31 March 2015, comprised the following:
• BR050 – Supplementary data disclosures
• BR640 – Financial resources requirements for Investment Management and Advisory (INMA) firms
• BR700 – Group structure – supplementary disclosures
Expanded and revised instructions encompassing the above returns were published and the Financial Analysis team worked closely with the Policy department to develop the new Islamic Banking Business Prudential Rules 2015,
which came into effect
on 1 January 2016.
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