EBA and EIOPA publish Data Point Modelling Standard 2.0 to foster collaboration and harmonisation in the field of supervisory reporting

• Data Point Modelling (DPM) Standard 2.0 significantly enhances and evolves the current standard, and is a key component of the EBA and EIOPA’s data dictionaries and a cornerstone of their reporting frameworks.
• This enhanced Standard is the joint response to the challenges of increased volume, granularity, and complexity of the data and lays the foundation for a robust and future-proof data dictionary, supported by adequate management tools.

The DPM Standard 2.0 issued today enhances the methodology that is at the core of the EBA and EIOPA’s reporting process, creating a fully consistent approach for modelling reporting requirements. The new DPM supports the whole reporting lifecycle, from data definition to data exploration, and aims to reap the benefits of stronger collaboration and higher harmonisation while also improving the digital processing of regulatory data required by the authorities.

In the last decade, the DPM methodology has successfully supported the EBA and EIOPA in integrating their respective regulatory reporting frameworks. After all these years, the DPM Standard 1.0 required enhancements to still fit the purpose of responding to changes in reporting and reducing costs. DPM Refit was born as the joint response to evolve the authorities’ DPM and address the challenges of increased volume, granularity, and complexity of the data. The enhanced DPM standard 2.0 is made available as a public good for the benefit of all stakeholders involved in the reporting process.

In the longer term, the DPM Standard should play a key role in the construction of a single cross-sectoral dictionary for the whole financial sector.  By providing a consistent approach for modelling reporting requirements, the Standard should facilitate the future integration of concepts and definitions (semantic integration) in a common data dictionary.

As the work progresses, the EBA and EIOPA will share more information on next steps and organise specific events.

Legal basis and background

The Solvency II Directive and the Pan-European Personal Pension Product (PEPP) Regulation require EIOPA to develop draft implementing technical standards to specify the uniform reporting formats and templates, the instructions and methodology on how to use those templates, the frequency and dates of reporting, the definitions and the IT solutions for the reporting requirements specified in the same legal texts.

The Capital Requirements Regulation (CRR), the Bank Recovery and Resolution Directive (BRRD) and the Investment Firms Regulation (IFR) require the EBA to develop draft implementing technical standards (ITS) to specify the uniform reporting formats and templates, the instructions and methodology on how to use those templates, the frequency and dates of reporting, the definitions and the IT solutions for the reporting requirements specified in the same legal texts.

The EBA and EIOPA use DPM models to produce data exchange specifications in the format of XBRL Taxonomy. The authorities recently published the revised version of the XBRL taxonomy architecture to implement the improvements introduced by DPM standard 2.0.