Recital 1

(1)Commission Implementing Regulation (EU) 2021/451 ² lays down, on the basis of Articles 415 and 430 of Regulation (EU) No 575/2013, a coherent reporting framework, including requirements concerning the provision of information on own funds and own funds requirements, financial information that needs to be provided in line with International Financial Reporting Standards (IFRS) and generally accepted accounting principles (GAAP), on losses stemming from lending collateralised by immovable property, on large exposures, on the leverage ratio, on stable funding, on additional liquidity monitoring metrics, on asset encumbrance, information to identify global systemically important institutions (G-SIIs) and assigning G-SII buffer rates, and information on interest rate risk in the banking book. Implementing Regulation (EU) 2021/451 has been amended several times following the amendments to Regulation (EU) No 575/2013 that were adopted to introduce, further develop, or adapt prudential elements.