August 03, 2018

Bundesbank updated the list of deactivated validation rules and derivation rules for reporting by banks. It updated the list of validation rules, which—from the nGAAP perspective in Germany—are not in line with the respective reporting requirements. This list does not represent a final and complete overview about questionable validation rules. The updated derivation rules are for a completeness check at the form level, with respect to the data quality of the European harmonized reporting system. The requirements for completeness check apply to all credit institutions under the Capital Requirements Regulation (CRR).

These updates are from a national perspective and are part of banking supervision under the harmonized reporting framework in EU. ECB has formulated data quality requirements for uniform supervision under the Single Supervisory Mechanism (SSM). As part of this, the quality of reported data is being assessed on the basis of the five criteria of punctuality (meeting the prescribed submission deadlines), completeness, correctness and consistency, continuity, and plausibility. It is important for a banking supervisor to ensure that the reported data are consistent and correct. The criteria of correctness involves ensuring that the transmitted messages are in line with the respective valid reporting requirements and this encompasses ensuring compliance with the validation rules (XBRL and non-XBRL) of EBA. The criteria of completeness check is based on the existence of all modules and forms to be submitted. The completeness of a report depends on institution-specific factors, such as business activity, and is, therefore, assessed for an individual institution. In addition to the checks at the module and form levels, completeness is also checked at the data point level.

 

Related Links (in German)

Keywords: Europe, Germany, Banking, Reporting, Derivation Rules, Validation Rules, nGAAP, COREP, FINREP, Bundesbank

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