Bundesbank Updates Validation and Plausibility Checks for Reporting
With respect to reporting by banks, Bundesbank updated information on the additional validation rules, including the changes that were made to the existing ECB checks and are valid from second quarter of 2020. In this version, a new Version History worksheet has been added and a typo in the rule EGDQ_0500 has been corrected. Also published was the additional information on plausibility checks for large exposures and these are valid from the reporting date of June 30, 2020.
The responsible head offices or joint supervisory teams will inform institutions about the violation of these validation rules. ECB has formulated data quality requirements for uniform supervision in the Single Supervisory Mechanism. These requirements are being checked against five criteria: punctuality, completeness, correctness and consistency, continuity, and plausibility. The correctness check involves compliance with the validation rules (XBRL and non-XBRL) according to EBA publications and additional audits by ECB.
Related Links (in German)
Keywords: Europe, Germany, Banking, Reporting, Plausibility Checks, COREP, SSM, Data Quality Checks, Large Exposures, Validation Rules, ECB, Bundesbank
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