October 04, 2018

Deutsche Bundesbank updated the list of reporting validation rules, from Annex XV of the EBA implementing technical standards, that have been additionally identified as defective. It also contains an update on the validation rules that have been removed from the National Supplement List due to the updated list of EBA.

The updated validation rules are from a national perspective and are a part of banking supervision under the harmonized reporting framework in EU. ECB has formulated data quality requirements for uniform supervision under the Single Supervisory Mechanism or 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. The criteria of correctness involves ensuring that the transmitted messages are in line with the respective valid reporting requirements and this encompasses ensuring compliance with the validation rules (XBRL and non-XBRL) of EBA. 

 

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Keywords: Europe, Germany, Banking, Reporting, Validation Rules, SSM, Bundesbank