www.ecb.europa.eu
18 March 2024
- ECB and EBA establish Joint Bank Reporting Committee to make data reporting by the banking industry more efficient
- New structure will harmonise and integrate reporting of statistical, supervisory and resolution data with the aim of developing common definitions and standards
- Process will involve all relevant EU bodies, as well as national authorities and banking industry representatives
The European Central Bank (ECB) and the European Banking Authority (EBA) aim to harmonise and integrate data reporting by the banking industry with the goal of improving efficiency and reducing the associated costs. To this end, the two institutions today established the Joint Bank Reporting Committee (JBRC), which is tasked with helping to develop common definitions and standards for the data that banks are required to report for statistical, supervisory and resolution purposes.
“High-quality data is essential to fulfilling our mandate”, said ECB Executive Board member Isabel…