September 11, 2017

Bundesbank updated the Bundesbank and ECB validation and plausibility checks with respect to the data quality of the European harmonized reporting system. The large exposure quality checks cover EBA Common Reporting (COREP) and ECB checks.

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, which encompasses ensuring compliance with the validation rules (XBRL and non-XBRL) of EBA. 

 

Related Links

Validation and Plausibility Checks (PDF in German)

Data Quality of the European Harmonized Reporting System (in German)

Keywords: Europe, Regulation 2015/534, Reporting, Validity Checks, Plausibility Checks, COREP, FINREP, Bundesbank, ECB

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