BIRD Initiative of ESCB Publishes Documentation on BIRD Release 2.0
Documentation of the Banks' Integrated Reporting Dictionary (BIRD) Release 2.0 has been published. This release consists of a complete methodology used to describe the various datasets of the different layers (for example: Input Layer, Output Layer) in the BIRD. The transformation rules necessary to generate the covered regulatory frameworks will be added in the upcoming release 2.1.
BIRD Release 2.0 integrates the following reporting requirements:
- EBA Implementing Technical Standards with respect to FinRep requirements (version 2.7), implementing the CRD IV/CRR framework.
- Regulation (EU) 2016/867 of ECB on the collection of granular credit and credit risk data for resident credit institutions and resident foreign branches of credit institutions (AnaCredit Regulation)
- Regulation (EU) No 1011/2012, as amended by Regulation (EU) 2016/1384. It concerns the collection of Statistics on Holdings of Securities (SHS).
The following are the key changes compared to the previous release:
- Enhanced dictionary functionalities (that is, improvements of the metadata methodology) that provide additional features for describing integrated data.
- Description of FinRep Templates (using both, the DPMs codification system as and the reference codification system) based on this methodology.
- New structure and content of the technical guidelines: It contains documentation with concrete examples to understand the methodology and the transformation rules, both in a general environment and with respect to specific frameworks.
- Entity relationship model visualization: on the sidebar you find a tab linking you to the BIRD’s Input Layer ERM as well as the dictionary’s underlying Information Model ERM. Both ERMs are interactive; double-clicking on an entity will link to the description of the entity.
- Dictionary navigator improvements: It provides different access points to the content of the dictionary.
In the future, new visualization tools will be provided for mappings, transformations, and hierarchies. Transformation rules will also be provided to derive FinRep Templates as well as AnaCredit and SHS, starting from the BIRD Input Layer.
Related Links
Keywords: Europe, Banking, BIRD Database, Reporting, AnaCredit, SHS, FINREP, Statistics, BIRD
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Scott Dietz
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.
Previous Article
Governor of BDE Speaks About Macro-Prudential Policy FrameworkRelated Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.
