The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin) announced that less significant institutions (LSIs) and other financial services institutions under their supervision, including institutions subject to reporting requirements under Section 1a of the German Banking Act (Kreditwesengesetz - KWG), may submit reports due between 1 March 2020 and 31 May 2020 up to one month after the statutory reporting deadline for the implementing technical standards (ITS) on supervisory reporting and the ITS on supervisory benchmarking or of up to two months after deadline for reports based on the guidelines for funding plans, if the submitting institutions have difficulties with a timely submission due to the current COVID 19 crisis. The reports pursuant to Art. 15 (liquidity coverage ratio - LCR) and Art. 16b (additional liability monitoring metrics - ALMM) of the ITS on supervisory reporting must however be submitted on time.

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