Bundesbank Updates List of Defective Validation Rules for Reporting
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.
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
Featured Experts
David Fihrer
Skilled life insurance actuary; subject matter expert on IFRS 17 and source of earnings
Previous Article
EIOPA Publishes XBRL Taxonomy for Reporting of Information on IORPsRelated Articles
EBA Finalizes Remuneration Standards for Investment Firms in EU
EBA finalized the two sets of draft regulatory technical standards on the identification of material risk-takers and on the classes of instruments used for remuneration under the Investment Firms Directive (IFD).
ECA Recommends Actions to Enhance Resolution Planning for Banks
EC published, in the Official Journal of the European Union, a notification that the European Court of Auditors (ECA) has published a special report on resolution planning in the Single Resolution Mechanism.
BoE Publishes Key Elements of the 2021 Stress Testing for Banks in UK
BoE published a scenario against which it will be stress testing banks in 2021, in addition to setting out the key elements of the 2021 stress test, guidance on the 2021 stress test, and the variable paths for the 2021 stress test.
PRA Proposes Rules on Identity Verification of Depositor Protection
PRA published a consultation paper (CP3/21) proposes rules regarding the timing of identity verification required for eligibility of depositor protection under the Financial Services Compensation Scheme (FSCS).
FSB Publishes Work Program for 2021
FSB published the work program for 2021, which reflects a strategic shift in priorities in the COVID-19 environment.
FCA Issues Update on Move to New Data Collection Platform
FCA announced that 50% firms have started using the new data collection platform RegData, which is slated to replace the existing platform known Gabriel.
Bundesbank Publishes Derivation Rules for Reporting by Banks
Bundesbank published Version 5.0 of the derivation rules for completeness check at the form level, with respect to the data quality of the European harmonized reporting system.
FED Revises Capital Planning and Stress Testing Requirements for Banks
FED finalized a rule that updates capital planning requirements to reflect the new framework from 2019 that sorts large banks into categories, with requirements that are tailored to the risks of each category.
ECB Releases Results of Bank Lending Survey for Fourth Quarter of 2020
ECB published results of the quarterly lending survey conducted on 143 banks in the euro area.
ESAs Publish Reporting Templates for Financial Conglomerates
ESAs published the final draft implementing technical standards on reporting of intra-group transactions and risk concentration of financial conglomerates subject to the supplementary supervision in EU.
