The European Banking Authority (EBA) published updates related to the reporting framework 3.0 and the implementing technical standards (ITS) on Pillar 3 public disclosures by institutions. These updates are the result of the European Commission’s adoption of the implementing technical standards on supervisory reporting (version 3.0) on December 17, 2020, the EBA publication of the revised version of the mapping between disclosures and reporting, and the EBA release of phase 1 of the technical package on the reporting framework version 3.0.
EBA is updating the mapping of quantitative disclosure data and supervisory reporting and has published a file summarizing the frequency at which each type of institution should disclose each template and table, in accordance with the CRR2. The EBA tool provides a mapping tool between the Pillar 3 implementing technical standards on disclosures and the implementing technical standards on supervisory reporting (version 3.0). The Pillar 3 implementing technical standards on public disclosures have been developed to foster consistency across supervisory reporting. The mapping also aims to facilitate institutions’ compliance and improve the consistency and quality of disclosed information.
The Phase 1 technical package of reporting framework (version 3.0) provides the standard specifications for the implementation of EBA reporting requirements. The package includes the validation rules, the Data Point Model (DPM) data dictionary, and the XBRL taxonomies for v3.0. EBA also updated the DPM query tool. The technical package includes reporting requirements on FINREP, COREP, own funds (including the Fundamental Review of the Trading Book), COREP liquidity, asset encumbrance, large exposures, leverage ratio, and global systemically important institution (G-SII) data.
The main changes compared to the previous version of the EBA reporting framework relate to the following:
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EBA compliance is more than just generating the required reports. Compliance starts with data collection and includes every stepuntil final disclosure to the market and regulators —needless to say. CCH Tagetik comes pre-packaged with a complete set of accounts, pre-built FINREP and COREP templates, diagnostic checks, calculation rules, consolidation logic, multi-GAAP support, and XBRL outputs.
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From data collection to final disclosure to the regulators, CCH Tagetik EBA Supervisory Reporting comes with all the capabilities, financial intelligence, and process governance you need to address FINREP and COREP compliance and beyond.
CCH Tagetik’s EBA Supervisory Reporting solution integrates seamlessly with all data sources and existing applications so you have a single platform for all financial performance management processes. Always up-to-date, we’ll keep your solution aligned with fluctuating EBA regulations with regular maintenance.
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