MADRID, April 10 (Reuters) - The European Banking Authority (EBA) on Friday announced a series of measures to significantly simplify supervisory data reporting and reduce the reporting burden for EU
EBA Opens Consultation on Simplified Data Reporting for EU Banks
Key Measures and Implications for EU Banking Sector
MADRID, April 10 (Reuters) - The European Banking Authority (EBA) on Friday announced a series of measures to significantly simplify supervisory data reporting and reduce the reporting burden for EU banks, and has also opened a public consultation on their implementation.
The move comes at a time when France and Germany have urged the European Commission to bring forward an ambitious "financial services simplification package" to make EU rules easier to navigate and less burdensome for firms.
Proposed Revisions and Expected Impact
The envisaged revisions would reduce the number of data points across the EU's harmonised reporting system by about 50% and strengthen proportionality, particularly for small and non-complex institutions, the EBA said.
The revisions also aim to ensure that supervisory authorities continue to receive the information they need to fulfil their supervisory responsibilities, the EBA added.
Public Consultation Details
A public consultation on revised implementing technical standards (ITS) on supervisory reporting and on supervisory benchmarking reporting is open until 10 July 2026, and until 10 May 2026 for international financial reporting standards 18-related requirements.
EU Coordination and National Reporting
Challenges in Coordination
EU COORDINATION
EU-level reporting is often supplemented with national reporting requirements and ad hoc information requests by various public authorities.
However, these requests often lack coordination regardless of their relevance, the EBA said, adding that notable coordination initiatives, such as the European Central Bank's single supervisory mechanism, do not cover the whole spectrum and all member states.
Overview of National Supervisory Data Collection
As a first step, the package includes an overview of national supervisory data collection and ongoing simplification efforts by competent authorities.
Integration of Stress Test and Benchmarking Data
Separate EU-wide stress test and supervisory benchmarking data collection would be integrated into regular reporting, the EBA said.
This would reduce overlaps, increase consistency, simplify reporting processes and make requirements more stable over time, it added.
Implementation Timeline and Next Steps
The proposed changes would apply from September 2027. In the meantime, the EBA will support implementation through close engagement with stakeholders via the public consultations, related hearings and a workshop.
Related Regulatory Developments
Last month, the ECB said it aimed to simplify and speed up approvals for changes to banks' internal credit risk models, easing a supervisory process that can delay capital benefits and trigger lengthy on-site inspections.
(Reporting by Jesús Aguado. Editing by Jane Merriman and Janane Venkatraman)
