The Committee of European Banking Supervisors (CEBS) has published an amendment to the Guidelines on Common Reporting (COREP) on the standardisation of remittance dates and reporting frequencies for COREP reporting in the European Union.
The amendment to the Guidelines (valid from 2012 onwards) contains the following features:
- The frequency of reporting is to be quarterly as a maximum, with certain exceptions for allowing monthly reporting.
- There is a distinction between consolidated and solo data. Consolidated and solo reports must be delivered as a maximum within 40 business days and 20 business days respectively.
- National authorities may provide additional time for reporting by institutions which only operate domestically in order to provide proportionate application of the agreement for these firms.
View CEBS standardised COREP reporting dates, 11 July 2008