BIRD Initiative of ESCB Publishes Documentation on BIRD Release 4.0
Documentation of the Banks' Integrated Reporting Dictionary (BIRD) Release 4.0 has been published. This release has completely updated the Validation and Transformation Language (VTL) used for transformations that it is now described in the VTL 2.0, which was released in July 2018 by the SDMX community. It consists of a complete methodology used to describe the various datasets of the different layers (for example, Input Layer, Output Layer) in the BIRD.
The BIRD Release 4.0 integrates the following reporting requirements:
- EBA Implementing Technical Standards with respect to Resolution Planning data requirements, implementing the Bank Recovery and Resolution Directive and the Single Resolution Mechanism Regulation (BRRD/SRMR) framework.
- EBA Implementing Technical Standards with respect to Asset Encumbrance data requirements, under Article 100 of the Capital Requirements Regulation
- EBA Implementing Technical Standards with respect to FinRep requirements (updated to Version 2.8), implementing the Capital Requirements Directive and Regulation (CRD IV/CRR) framework.
- Regulation (EU) 2016/867 of ECB on the collection of granular credit and credit risk data for resident credit institutions and resident foreign branches of credit institutions (AnaCredit Regulation)
- Regulation (EU) No 1011/2012, as amended by Regulation (EU) 2016/1384, on the collection of Statistics on Holdings of Securities (SHS)
In addition, a meeting on BIRD testing with software vendors and consultancy companies that are participating in the testing was held in May 2019. Also, the annual meeting with software vendors and consultancy companies, which was originally planned for September 24, 2019 has been postponed to 2020, as work on BIRD testing is underway and the result of the activities will be presented in 2020.
Related Links
Keywords: Europe, EU, Banking, Reporting, Asset Encumbrance, FinRep, AnaCredit, SHS, CRR, SRMR, Statistics, BIRD Database, BIRD
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Related Articles
ECB Finds Banks Unprepared for Pillar 3 Climate Risk Disclosures
The European Central Bank (ECB) published results of the 2022 supervisory assessment of climate-related and environmental risk disclosures among significant institutions (103) and a selected number of less significant institutions (28).
NCUA Assesses Credit Union Exposure to Climate-Related Physical Risks
The National Credit Union Administration (NCUA) released a Research Note that examines the exposure of credit unions to climate-related physical risks. In a related development
EBA Issues Multiple Regulatory and Reporting Updates for Banks
The European Banking Authority (EBA) is seeking comments, until July 31, 2023, on the draft Guidelines on the proposed common approach to the resubmission of historical data under the EBA reporting framework.
EC Adopts Regulation on Own Funds, Issues Other Updates
The European Commission adopted Delegated Regulations on own funds and eligible liabilities, on requirements for the internal methodology under the internal default risk model
CDP Platform to Report Plastic-Related Impact, Issues Other Updates
The Carbon Disclosure Project (CDP) announced that its global environmental disclosure platform has enabled reporting on plastic-related impact for nearly 7,000 companies worldwide
IASB to Enhance Reporting of Climate Risks, Proposes IFRS 9 Amendments
The International Accounting Standards Board (IASB) updated its work plan to enhance the reporting of climate-related risks in the financial statements,
BIS Addresses Data Gaps and Macro-Prudential Policy for Climate Risks
The Financial Stability Institute (FSI) of the Bank for International Settlements (BIS) published a brief paper that examines challenges associated with the use of macro-prudential policies to address climate-related financial risks.
FCA Sets Out Business Plan, Launches TechSprint on Greenwashing
The Financial Conduct Authority (FCA) published its business plan for 2023-24. The plan sets out details of the work planned for the next 12 months to achieve better outcomes for consumers and markets
UK Committee Sets Out Recommendations for Next Phase of Open Banking
The Joint Regulatory Oversight Committee (JROC), comprising the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) as co-chairs and the HM Treasury and the Competition and Markets Authority (CMA) as members
ECB Publishes Multiple Regulatory Updates for Banking Institutions
The European Central Bank (ECB) published the results of the 2022 climate risk stress test of the Eurosystem balance sheet,
