EBA Revises List of Validation Rules for Reporting in EU
EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting. The update highlights the rules that have been deactivated either for incorrectness or for triggering IT problems. The competent authorities throughout EU are being informed that data submitted in accordance with these implementing technical standards should not be formally validated against the set of deactivated rules.
Validation rules to be disregarded are identified by the presence of a date in the "Deactivated" column in the released Excel worksheet. This indicates the date of the deactivation list in which they were first indicated as deactivated. The updated workbook includes a separate sheet applicable to each reporting requirement, Data Point Model, Taxonomy set release. All validation rules are applicable and equally binding. The worksheet indicates that not meeting "Error" validation rules when submitting data to EBA will cause the file to be rejected; therefore, the submission is not accomplished. Where reporting entities are of the opinion that they can only comply with the reporting requirements set out in the applicable reporting standard if they breach a validation rule of the type "error," they should contact their relevant competent authority (and likely submit a Q&A to the EBA Q&A tool).
Related Links
Keywords: Europe, EU, Banking, Reporting, Implementing Technical Standards, Validation Rules, Basel, EBA
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Pierre-Etienne Chabanel
Brings expertise in technology and software solutions around banking regulation, whether deployed on-premises or in the cloud.
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Previous Article
EIOPA Supports ESRB Views on Liquidity Risk Monitoring for InsurersNext Article
ESAs Propose Regulatory Standards on ESG DisclosuresRelated Articles
EBA Updates List of Validation Rules for Reporting by Banks
EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.
EBA Responds to EC Call for Advice to Strengthen AML/CFT Framework
EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
NGFS Advocates Environmental Risk Analysis for Financial Sector
NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.
MAS Issues Guidelines to Promote Senior Management Accountability
MAS published the guidelines on individual accountability and conduct at financial institutions.
APRA Formalizes Capital Treatment and Reporting of COVID-19 Loans
APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.
SRB Chair Discusses Path to Harmonized Liquidation Regime for Banks
SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.
FSB Workshop Discusses Preliminary Findings of Too-Big-To-Fail Reforms
FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.
ECB Updates List of Supervised Entities in EU in September 2020
ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.
OSFI Identifies Focus Areas to Strengthen Third-Party Risk Management
OSFI published the key findings of a study on third-party risk management.
FSB Extends Implementation Timeline for Framework on SFTs
FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.
