The ESRB Secretariat issued a response to the EC consultation on fitness check on supervisory reporting. The response details issues identified by the ESRB Secretariat and highlights areas of improvement and benefits that can be achieved by streamlining reporting processes via increased use of granular data and global standards.
The issues discussed in the response to the consultation have been commented on by the ESRB Advisory Technical Committee and General Board. This is not a formal ESRB response and remains the responsibility of the ESRB Secretariat. EC had published the consultation on fitness check on supervisory reporting on December 01, 2017. The consultation was intended to gather evidence on the cost of compliance with the existing EU-level supervisory reporting requirements as well as on the consistency, coherence, effectiveness, efficiency, and EU added value of those requirements. The consultation had closed on March 14, 2018.
Keywords: Europe, EU, Banking, Supervisory Reporting, Fitness Check, Response to Consultation, Proportionality, EC
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