EBA publishes a first draft of the technical package for its 4.0 reporting framework
The European supervisory authorities are further developing the reporting obligations: in particular, reports are to become significantly more granular in order to ensure better comparability between the institutions subject to reporting requirements. Part of this initiative is the Data Point Model (DPM) 2.0 developed by the European Banking Authority (EBA), which promises more granular reporting and a clearer definition of data relationships. The DPM 2.0 is expected to be used for all regulatory reports to the EBA such as FINREP (Financial Reporting), COREP (Common Reporting) or Asset Encumbrance. Format DPM 2.0 Methodology
The reporting framework 4.0, for which the EBA has now published technical standards, will be the first reporting framework to be based entirely on the DPM 2.0 model in future, even though the publication will initially introduce a new reporting framework in DPM 1.0 format. The EBA only published its implementation plan for DPM 2.0 in June. The current publication of the Reporting Model 4.0. is a further milestone in the implementation process.
Technical Package 4.0 contains significant changes, such as the introduction of a new semantic glossary. From the introduction of DPM 2.0, this will maintain the structured list of terms and their meanings and is significantly more detailed than the previous glossary, meaning that it requires considerable adjustments on the part of the reporting institutions. In addition to the glossary, all associated modules have also been adapted accordingly. The biggest change in Pact 4.0 is the far-reaching adjustments to the reporting requirements in accordance with CRR3.
Other changes concern, for example, the reporting formats that are transmitted to the Bundesbank. For example, the EBA plans to accept only the xBRL-CSV reporting format.
The final version of the Reporting Framework 4.0 is due to be published by the three supervisory authorities in December 2024. The technical aspects will be integrated from the first half of 2025, probably in March. A transitional period until December 2025 is planned for the reporting format, for example, whereby the new xBRL-CSV reporting format will also be accepted in parallel until then.
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