FIN-FSA Implements Automatic Checks for Acceptable Reporting Timeframe
FIN-FSA implemented automatic checks related to the acceptable timeframe for supervisory reporting. The aim of the checks is to prevent unexpected re-submissions for the previous reference dates. Earlier, on May 09, 2019, FIN-FSA had announced that a new set of data quality checks will be tested in the FIN-FSA testing environment during May 9–24, 2019. It was announced that during the testing period, test reports for the reference dates prior to March 31, 2019 may be rejected
The acceptable timeframe for reporting is defined as a time period that begins on the reporting reference date and ends 45 calendar days after the submission deadline. Reports submitted outside the acceptable timeframe are rejected automatically. Submissions outside the timeframe can be permitted temporarily for 14 days if one of the following conditions is met:
- An institution provides a reasonable explanation for the re-submission by sending an e-mail to the relevant reporting helpdesk before submitting the report.
- FIN-FSA explicitly asks an institution to re-submit the report for some previous reference date.
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Keywords: Europe, Finland, Banking, Automatic Checks, Acceptable Time Frames, Reporting, FIN-FSA
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