DNB changes reporting rules
NETHERLANDS - The Dutch central bank, DNB today has said it will change the financial reporting standards for institutional investors, such as asset managers and pension funds, from next year.
In a notification for investors on its website today, the DNB said changes to the way in which investment institutions report their "macro-economic statistics" will come into force from the beginning of next year, in a move to consolidate existing standards and to comply with the information requirements of the European Central Bank (ECB).
There are currently two reporting frameworks for institutional investors, covering quarterly sector accounts, payment balances and the investor's international investment position, using different reporting tools.
Secondly, "the ECB's introduction last year of a new directive regarding the assets and liabilities of investment funds was a reason to streamline and adjust the reporting for institutional investors," said the DNB.
The regulator added: "Instead of adding a third reporting framework or adjust one of the two existing once, a completely new framework has been set up."
The DNB wants to increase efficiency and prevent any overlaps in the data with such a new framework.
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