DGS Update

De Nederlandsche Bank has issued an update to the Deposit Guarantee Scheme. Watch the video for an update in 45 seconds or read the post for more info.

 

What is the Deposit Guarantee Scheme?

The Deposit Guarantee Scheme is a safety net. It is a fund that is financed by the banks. If a bank goes bankrupt, the deposit holders can be compensated from the DGS fund up to a maximum of € 100,000 per deposit holder. Part of the DGS reform is the introduction of a standard for Dutch banks to be able to build up and deliver deposit-related data per deposit holder. This delivery was called the Individual Customer View. The IKB contains the following outline for each deposit holder:

  • an overview of all deposits from the deposit holder
  •  whether the deposit and the deposit holder are eligible for the DGS
  •  additional information needed to make a payment

 

DNB announces changes

De Nederlandsche Bank has announced changes to DGS. Version 1.1 of the data delivery agreement (GLO) will be available on July 1, 2019 and takes effect January 1, 2020. From that moment the new formats must be supplied.

The following changes will be made to the delivery:

  • 5 entities deleted
  • Rename (1), removal (4) and addition (1) of attributes
  • Changes to 29 validation rules

The delivery of IKB remains in CSV. There will be no changes to the encryption.

 

Privacy rules
BSN number and Bank account number may not be used as ID in the delivery. As is known, a depositor must be uniquely identifiable. The validation of whether this is actually the case remains a signaling validation, since otherwise hardly anyone could deliver. However, DNB will combine the data in the IKB delivery with the results of the audit performed by the accountant to arrive at a judgment as to whether depositors are actually uniquely identifiable.

 

Change in quarterly reporting

The quarterly report will have to be delivered in XBRL from 31/3/2020, some minor changes will be made to the format, the connection with the FINREP will be included in the overview. The specs for this will be available 30/9/2019.

 

 DGSSolo

 

DEX Regulatory Suite for DGS

To support the DGS process, DEX Data Explorers offers DEX Regulatory Suite for DGS. DEX RS generates legal reports based on the DNB specifications and generates the CSV and MIME messages used in the DGS processes.

DEX Regulatory Suite offers the following functionality:

  • Reports generated according to the latest standards
  • Analysis tools for mapping your own data sets with the DGS model
  • Validation of the data according to the validation rules defined by the DNB; this gives you the option to validate the reports before you send them
  • CSV generation in accordance with DNB standards
  • Encryption in accordance with Logius standards
  • Processing the feedback from DNB
  • Automatically generated documentation
  • Workflow support

DEXDNBMenu

 

Reports according to legal standards

DEX RS generates legal reports based on the latest guidelines from the regulator. That is why the reports are always compliant and meet the latest standards. When updates for the standards are submitted, you as the customer will receive an update of the reporting definitions. The changes announced above will be available for implementation within one month after publication.

Below the DGS report for bank account.

DGSBankaccount

DEX RS provides additional information about the displayed data using the DNB input. Detailed information is provided on the results of the validation rules, so that errors can be easily analyzed. This helps you to check your reports and achieve the highest quality in reporting.


Design your own reports

In addition to providing the required regulatory reports, DEX RS offers you the ability to design your own reports. This way you can re-use the data that you use for regulatory reports for internal reports, for example. You can also add your own validations.

DGSexpression

 

Available solutions

DEX Regulatory Suite supports the following regulations:

  • CRD iv (COREP, FINREP, Funding Plans, Asset Encumbrance, Supervisory Benchmarking Portfolio)
  • AnaCredit
  • Residential Real Estate
  • Deposit Guarantee Scheme
  • MIFID ii
  • SFTR
  • Social Economic Reports
  • Dutch Digital Reporting (DRA)
  • Solvency
  • IORP II
  • Country Risk
  • Financial Assessment Scheme (FTK)
  • Tax reporting (VIA, Fatca)