The EBA publishes a revision of the common reporting framework

The European Banking Authority (EBA) published today a revision of its framework on Common Reporting (COREP rev3). The changes to the COREP rev3 templates take account of the CRD III amendments (Directive 2010/76/EU) of the European Parliament and of the Council of 24 November 2010.

These changes will be applicable as of 31 December 2011.

The main changes stem from:

• the reviewed frameworks for securitisations (including re-securitisations) in the banking and the trading book;

• the revised provisions with regard to market risk, including new correlation trading provisions or reviewed provisions for internal models (e.g. stressed VaR);

• the extension of settlement/delivery risks requirements to the non-trading book.

The EBA is currently working on the development of uniform reporting standards in accordance with Art. 74(2) of Directive 2006/48/EC (as amended by Art. 9(21) of Directive 2010/78/EU of 24 November 2010) which states that "In order to ensure uniform conditions of application of this Directive, for the communication of those calculations by credit institutions, the competent authorities shall apply, from 31 December 2012, uniform formats, frequencies and dates of reporting. In order to ensure uniform conditions of application of this Directive, EBA shall develop draft implementing technical standards to introduce, within the Union, uniform formats (with associated instructions), frequencies and dates of reporting before 1 January 2012."

Related draft implementing technical standards will be subject to public consultation in due course.