European System of Central Banks provides input to European Banking Authority feasibility report on reducing reporting burden

21.09.2020

The European Central Bank (ECB) published the European System of Central Banks’ (ESCB) input for the European Banking Authority’s (EBA’s) feasibility report on reducing the reporting burden for the European banking industry. Art. 430c of the Capital Requirements Regulation (CRR) mandates that the EBA carry out such a feasibility study and consider input from the ESCB. The ESCB proposes reducing the statistical, resolution and prudential reporting burden for banks through a common standard data dictionary and common data model for statistical, resolution and prudential data requirements; improved procedures, such as harmonizsed reporting formats, the removal of duplications and improved data sharing between authorities; and increased cooperation between European authorities and between authorities and financial institutions.