The Committee of European Banking Supervisors (CEBS) and the European Central Bank (ECB) have published a new classification system that seeks to reduce the reporting burden placed on entities that are required to deliver data to the Eurosystem as well as to supervisory authorities.
The classification system has two elements:
- A bridging manual that links the ECB’s monetary and financial statistics requirements with the supervisory reporting templates (FINREP and COREP) developed by CEBS.
- A database that will assist reporting agents to identify the similarities and differences between data for ECB statistical purposes and data for financial supervisors in the context of the CEBS framework.
CEBS and the ECB intend to update the classification system over time, particularly in view of the forthcoming amendments to the FINREP and COREP templates as well as potentially relevant changes to the ECB statistical reporting framework.
View New classification system between the reporting frameworks of the ECB and CEBS, 18 February 2010