Bundesbank Updates Derivation Rules for Completeness Check Under SSM
Bundesbank updated the derivation rules for completeness check at the form level, with respect to the data quality of the European harmonized reporting system. The completeness of a report depends on institution-specific factors, such as business activity, and is, therefore, assessed for an individual institution. In addition to the checks at the module and form levels, completeness is also checked at the data-point level.
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.
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Keywords: Europe, Germany, Banking, Reporting, Completeness Check, COREP, FINREP, Derivation Rules, Bundesbank
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