EBA Revises List of Validation Rules for Reporting by Banks
The European Banking Authority (EBA) issued a revised list of validation rules included under the implementing technical standards on supervisory reporting. The revised list highlights the rules that have been deactivated either for incorrectness or for triggering IT problems. Competent authorities throughout the EU are being informed that data submitted in accordance with these implementing technical standards should not be formally validated against the set of deactivated rules.
EBA usually publishes a revised list of implementing technical standard validation rules each quarter. Validation rules with the severity status "Warning" are equally binding and shall be considered and closely monitored by reporters. Explanation about failure should be provided to the competent authority where needed—that is, reporters are expected to analyze the results of "Warning" validation rules and verify and revise the data, if necessary. Some warnings may not be applicable to all reporters, in all circumstances, or to all reference dates. Thus, not meeting them will not necessarily prevent the successful submission of data. Warnings may become “Error” validation rules in the future. Where feasible and prudent, new validation rules will likely be introduced as warnings initially.
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Keywords: Europe, EU, Banking, Validation Rules, Reporting, Implementing Technical Standards, Basel, Reporting Framework 2.10, Reporting Framework 3.0, Reporting Framework 3.1, EBA
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