The European Banking Authority (EBA) published today its final draft Implementing
Technical Standards (ITS) on supervisory reporting. The ITS set out
reporting requirements related to own funds, financial information, losses
stemming from lending collateralised by immovable property, large exposures,
leverage ratio and liquidity ratios.
The draft ITS specify uniform formats, frequencies, dates of reporting, definitions
and IT solutions to be applied by credit institutions and investment firms in
Europe on both an individual and consolidated level, with the exception of
The ITS includes the following technical documents:
- Main provisions covering reporting requirements;
- A set of templates and related instructions regarding supervisory reporting requirements;
- A set of data point descriptions; and
- A set of validation formulae.
Questions from stakeholders on the interpretation and implementation of the requirements included in the ITS will be answered by the EBA using a Q&A tool available on its website. Answers will only be published once the Standards have been published in the
Official Journal of the European Union. The FCA issued a
statement advising affected firms to carefully consider the content of the ITS, to ensure compliance and to build systems to implement the framework for common reporting (COREP) and where applicable financial reporting (FINREP) in conformity with this.
In the second half of 2013, the EBA is expected to publish an update of these ITS
to include additional reporting requirements regarding asset encumbrance, non
performing loans and forbearance.