11 March 2021
- The EBA invites stakeholders to provide feedback on feasibility of options to increase efficiencies and reduce costs for the entire reporting ecosystem.
- The core areas to set up an integrated system include a data dictionary, a central data collection point and related governance.
- The discussion paper builds on existing experiences and tools for integration of reporting as well as evidence on current challenges.
The European Banking Authority (EBA) published today a discussion paper on the feasibility study of an integrated reporting system to collect feedback for the preparation of its final Report in this area. The discussion paper outlines possible options around the main building blocks of a possible integrated system including a single data dictionary and single reporting system across supervisory, resolution and central bank statistical data. The consultation runs until 11 June 2021.
The discussion paper presents a range of options around the main areas needed for the development of an integrated and consistent reporting system: a data dictionary and a central data collection point, together with the related governance aspects. Each of the areas are essential components of a reporting process and their design, as part of an integrated system, would influence the way the current reporting process is conducted.
The study builds on a fact-finding and research phase as well as on the experience of all relevant authorities in integrating reporting and private sector stakeholders’ views on current challenges and potential solutions. The discussion paper is neutral on outcomes and serves as a basis for further discussions with the aim of gathering additional evidence and opinions. Therefore, it does not make concrete proposals for any possible implementation.
Comments to this discussion paper 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 11 June 2021. All contributions received will be published following the end of the consultation, unless requested otherwise.
A workshop will be organised in the form of a webinar on 4 May from 14:00 to 16:00 CET. The EBA invites interested stakeholders to register via this link using the password Workshop.2021
The dial-in details will be communicated in due course.
Legal basis and background
Article 430c of the Capital Requirements Regulation (CRR) mandates the EBA to develop a Report on the feasibility regarding the development of a consistent and integrated system for collecting statistical, resolution, and prudential data.
The EBA was mandated to produce such a study to investigate ways to potentially reduce reporting costs and increase efficiencies by having common definitions and requirements, streamlining processes, facilitating data sharing and increasing coordination among authorities.
The feedback received will serve as a basis for the development of the final feasibility study, whose main objective is to identify ways to streamline the reporting processes, reduce the financial and administrative burden and increase efficiencies going forward, considering the principle commonly referred to as ‘define once, report once’.