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This regulatory reporting brief offers an overview of upcoming changes, challenges and key considerations for strategy development.
The regulatory reporting landscape continues to face challenges as a result of new and evolving regulations and reporting requirements. The Treasury International Capital (TIC) Purchases and Sales of Long-Term Securities by Foreigners (TIC S) and the Aggregate Holdings of Long-Term Securities by US and Foreign Residents (TIC SLT) reports have not experienced significant changes since their inception; however, regulators have recently identified a need to capture changes in fair value of long-term securities holdings.
In May 2021, the Federal Register Notice announced the initiative to combine the TIC S and TIC SLT into a singular form TIC SLT for data collection to compile holdings, purchases and sales, and change in fair value data for reportable securities in one report. The changes to the TIC SLT report can be categorized into three main areas: reporting responsibility, reporting perspective and report form structure.
Download the full article on: TIC S & SLT Report Merger
Summary
As the industry braces for the impact of TIC S and SLT merger to reporting processes, there is a clear need to assess the effect of these changes to confirm consistent and reliable data quality and accuracy and sourcing.
How EY can help
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Our Global Regulatory Network, consisting of former regulators and bankers from the Americas, Asia and Europe, provides strategic insights on financial regulation that helps clients adapt to the changing regulatory landscape.
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