Bundesbank Updates List of Defective Validation Rules for Reporting

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. 

Related Links

• Updated List of Disabled Validation Rules (XLSX in German)
• Bundesbank Reporting System (in German)
• EBA Reporting Framework

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