Featured Product

    EBA Seeks Views on Feasibility Study on Integrated Reporting System

    March 11, 2021

    EBA published a discussion paper on the feasibility study on the integrated reporting system across prudential, resolution, and statistical reporting in EU. The discussion paper takes stock of the quantity and scope of current data collection to present a range of options for key areas in the development of an integrated and consistent reporting system—namely, a common data dictionary, design of a central data collection point, and the related governance aspects. In the paper, EBA has also compiled the preliminary feedback received from a survey on the use of regtech services (from institutions and regtech providers), with the aim to analyze the use of technology through regtech services. EBA is inviting feedback on the feasibility of options to increase efficiencies and reduce costs for the entire reporting ecosystem. The comment period ends on June 11, 2021 and EBA plans to use the feedback received to this paper to prepare a final report on the feasibility study.

    The discussion paper on the feasibility study is a first step on the road to an integrated reporting system. It allows the identification of different options, and their pros and cons, for building an integrated reporting system. The discussion paper is an opportunity to enter into a dialog with all stakeholders on the future of regulatory reporting and to discuss how reporting processes could be made more efficient, analyze possible bottlenecks in the reporting system, and find synergies with projects already in place. To achieve this, the report considers the principle commonly referred to as "define once, report once," which means the report will consider the feasibility of a common language and dictionary for "define once" and analysis of architectures to achieve "report once." The feasibility study will analyze the feasibility of various options for creating an integrated reporting system as a way forward to reduce the reporting costs, streamline and increase the efficiency in the reporting processes, facilitate data comparability and remove overlaps (following the "define once" principle), and facilitate sharing of data and increase coordination among authorities (following the "report once principle")

    The paper outlines the potential benefits and costs that an integration might have at the different steps of the reporting process chain as well as any possible interdependencies between the different steps of the reporting process chain. With respect to the key areas in the development of an integrated reporting system, the aspects in focus in the discussion paper include the following:

    • Common data dictionary. A common data dictionary for prudential, statistical, and resolution data collections is considered a central piece all along the reporting process chain in this discussion paper. The data dictionary would offer a common understanding of the reporting requirements and support their design in the view of the "report once" principle. The topic of granularity can be considered in connection to the data dictionary analysis. Three scenarios for collecting data on a more granular basis are identified and assessed in the paper. 
    • Central data collection. The analysis on whether the creation of a Central Data Collection Point is feasible starts from a predominantly technical focus by putting forward possible design choices from a range of system architectures and topologies. Additionally, the paper explores two different data reporting architectures for data collection, the "Push" and "Pull" approaches, with the aim of gathering more evidence on the implications and the potential costs and differences of these two approaches.
    • Governance. The paper also includes a broad analysis of the main governance considerations that would need to be taken into account to achieve an integrated reporting system. A more detailed assessment on these considerations would need to be performed once the different options are analyzed on data dictionary and central data collection point. The general consideration could focus on the following main topics: submission of data, access to data, data-sharing, and the general governance of the possible future integrated reporting system.

     

    Related Links

    Comment Due Date: June 11, 2021

    Keywords: Europe, EU, Banking, Reporting, CRR, Basel, Integrated Reporting Framework, Statistical Reporting, Resolution Framework, EBA

    Featured Experts
    Related Articles
    News

    EC Issues Regulation on Adjustments to K-Factor Coefficients Under IFR

    The European Commission (EC) published a report summarizing responses to the targeted consultation on the supervisory convergence and the single rulebook in the European Union (EU).

    January 20, 2022 WebPage Regulatory News
    News

    OSFI Issues Results of Pilot on Climate Risk Scenario Analysis

    The Office of the Superintendent of Financial Institutions (OSFI) published an update on the discussion paper that intended to engage federally regulated financial institutions and other interested stakeholders in a dialog with OSFI, to proactively enhance and align assurance expectations over key regulatory returns.

    January 20, 2022 WebPage Regulatory News
    News

    ECB Issues Opinions on Green Bonds Standard and CRR Proposals

    The European Central Bank (ECB) published its opinion on a proposal for a regulation on European green bonds, following a request from the European Parliament.

    January 19, 2022 WebPage Regulatory News
    News

    ESRB Explores Policy Response to Risks Arising from Digitalization

    The Advisory Scientific Committee (ASC) of the European Systemic Risk Board (ESRB) published a report that explores the expected impact of digitalization on provision of financial and banking services, and proposes policy measures to address the risks stemming from digitalization.

    January 18, 2022 WebPage Regulatory News
    News

    EU Authorities Address COVID-19 Reporting, MCD, and PSD2 Issues

    The European Banking Authority (EBA) announced that the guidelines on the reporting and disclosure of exposures subject to measures COVID-relief measures shall continue to apply until further notice.

    January 17, 2022 WebPage Regulatory News
    News

    FI Publishes Multiple Regulatory and Reporting Updates

    The Swedish Financial Supervisory Authority (FI) announced that the capital adequacy reporting as at December 31, 2021 must be done by February 11, 2022.

    January 17, 2022 WebPage Regulatory News
    News

    BSP Tackles Aspects of Lending and Islamic, Open & Sustainable Finance

    The Central Bank of the Philippines (BSP) issued communications covering developments related to online lending platforms, open finance framework and roadmap, and on the expected regulations in the area sustainable finance.

    January 16, 2022 WebPage Regulatory News
    News

    US Agencies Issue Regulatory Updates, FDIC Launches Tech Sprint

    The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.

    January 13, 2022 WebPage Regulatory News
    News

    EBA Issues Guide on Bank Resolvability, Consults on Transferability

    The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).

    January 13, 2022 WebPage Regulatory News
    News

    MFSA Publishes CRD5 Updates and Supervisory Priorities for 2022

    The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0.

    January 13, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 7875