EC Holds Conference on Preparing Supervisory Reporting for Digital Age
EC held a conference on preparing supervisory reporting for digital age. This conference brought together the best in institutional knowledge, industry expertise, and academic analytical research to look at the present challenges and future opportunities related to supervisory reporting.
The conference offered an opportunity for EC to present the latest developments in a variety of its ongoing initiatives related to supervisory reporting. It included panel discussions on the reporting burden for regulated entities versus the information needs of supervisors as well as on possible tools to simplify and streamline supervisory reporting going forward. The Agenda covered the following topics:
- Presentation of the state of play of the Fitness Check of supervisory reporting requirements
- Presentation of ESMA’s initiatives on supervisory reporting
- Balancing the data needs of supervisors/policymakers and the reporting burdens for institutions
- Presentation on digital transformation and financial supervision
- Presentation by ECB on how technology may impact the needs and potential for measurement, both for businesses and for authorities
- Potential options for improving supervisory reporting in the short, medium, and long term
Related Links
Keywords: Europe, EU, Banking, Supervisory Reporting, Regtech, Conference, EC
Related Articles
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.
BIS Bulletin Examines Cognitive Limits of Large Language Models
The use cases of generative AI in the banking sector are evolving fast, with many institutions adopting the technology to enhance customer service and operational efficiency.
ECB is Conducting First Cyber Risk Stress Test for Banks
As part of the increasing regulatory focus on operational resilience, cyber risk stress testing is also becoming a crucial aspect of ensuring bank resilience in the face of cyber threats.
EBA Continues Momentum Toward Strengthening Prudential Rules for Banks
A few years down the road from the last global financial crisis, regulators are still issuing rules and monitoring banks to ensure that they comply with the regulations.
EU and UK Agencies Issue Updates on Final Basel III Rules
The European Commission (EC) recently issued an update informing that the European Council and the Parliament have endorsed the Banking Package implementing the final elements of Basel III standards