21 March 2014
The European Banking Authority (EBA) launched today a consultation on a revised version of its XBRL Taxonomy for supervisory reporting, which incorporates additional reporting requirements for asset encumbrance, non-performing exposures and forbearance. This consultation aims at ensuring that the data national competent authorities collect from credit institutions and investment firms is transmitted to the EBA in a uniform and consistent manner. The consultation runs until 14 April 2014.
The proposed document, which is based on the EBA's final draft Implementing Technical Standards (ITS) on asset encumbrance, forbearance and non-performing exposures and their related Data Point Models (DPM), presents the data items, business concepts, relations and validation rules described by the revised EBA Data Point Model(s) (DPM) on supervisory reporting in the technical format of an XBRL taxonomy.
Although primarily intended for use in data transmission between competent authorities and the EBA, authorities may choose to use the proposed XBRL taxonomy or a similar one for collecting data from credit institutions and investment firms in Europe.
This revised XBRL Taxonomy (release 2.1) is expected to be used for remittance of Asset Encumbrance data for reference dates from 30 June 2014, and COREP and FINREP data for reference dates from 30 September 2014 (prior to which the 2.0 version should be used).
Comments can be sent to the EBA by clicking on the "send your comments" button on the consultation page. Please note that the deadline for the submission of comments is 14 April 2014.
All contributions received will be published following the close of the consultation, unless requested otherwise.
Legal basis and background
The EBA has developed this taxonomy in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 (Capital Requirements Regulation – CRR), and based on two supplementary ITS to the ITS and DPM on supervisory reporting.
Uniform data formats are necessary to enable the exchange of reported data regarding groups of credit institutions and investment firms, as part of the operation of the Single Rulebook aimed at enhancing regulatory harmonisation in the banking sector in the EU and facilitating a proper functioning of cross-border supervision. In this respect, this taxonomy will lead to greater efficiency in and convergence of supervisory practices across Members States, facilitating the supervisory process and allowing supervisors to identify and assess risks consistently across the EU and to compare EU banks in an effective manner.