On 30 July 2014, the European Banking Authority (“EBA”) published final draft implementing technical standards (“ITS”) to amend the current standards on supervisory reporting under the Capital Requirements Regulation. The amended ITS, which will need to be adopted by the European Commission, are expected to be applicable for reporting as of December 2014. The EBA is proposing to delete the validation rules and the Data Point Model. In April 2014, the EBA detected that certain validation rules included in the current ITS were inaccurate following tests based on real data from reporting firms as well as answers submitted via the EBA’s Q&A tool. The deletion of the rules and model from the ITS will obviate the need for further revised ITS as a result of these issues. The EBA is proposing to publish the validation rules and Data Point Model on its website (expected in August).
The EBA announcement is available at: http://www.eba.europa.eu/-/eba-issues-amended-technical-standards-on-supervisory-reporting-for-institutions.