Deutsche Bundesbank published the “implementation table for economic activity (WZ2008) and NACE code” in the context of the data quality of the European harmonized reporting system. The document also contains "classification of borrowers" who, according to Article 116 of the Capital Requirements Regulation (CRR), have a special prudential category of a debtor.
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.
Related Links (in German)
- Implementation Table for Economic Activity (XLSX)
- Data Quality of the European Harmonized Reporting System
Keywords: Europe, Germany, Banking, Reporting, Data Quality, FINREP, Harmonized Reporting, CRR, Bundesbank
Scott is a Director in the Regulatory and Accounting Solutions team responsible for providing accounting expertise across solutions, products, and services offered by Moody’s Analytics in the US. He has over 15 years of experience leading auditing, consulting and accounting policy initiatives for financial institutions.
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