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The European Banking Authority (EBA), in collaboration with the European Central Bank (ECB), welcomes the advice of the Joint Bank Reporting Committee (JBRC) to implement the revised statistical classification of economic activities, NACE Rev. 2.1, in a harmonised manner across their reporting frameworks. This harmonisation is essential to reduce costs for banks and to enhance the analytical quality of reported data.

The European Banking Authority (EBA) today published three final draft technical standards that are crucial for the implementation of the EU Banking Package and will allow supervisors to monitor institutions’ compliance, thus fostering consistent and enhanced supervision.