CRD IV European Bank Reporting bedding down
At the June 2015 XBRL EU meeting, presentations from the EBA’s Head of IT, Andreas Weller, and the ECB’s Head of Supervisory Statistics, Giancarlo Pellizzari emphasised the work that the European agencies are doing together to bed down the CRD IV filing environment.
All banks in the European Economic Area now file very comprehensive Basel III reports each quarter. The systems for accepting this data at the European Agencies are now operating smoothly but unsurprisingly, there is a focus on the data quality associated with these new filings. A range of quality assurance mechanisms:
- identify missing data and resubmissions
- the plausibility of reported values
- the internal consistency of data; as well as
- the results of published valuation rules.
All of this information is pulled together into data quality dashboards. The level of co-ordinated focus, at a national as well as at a pan-European basis, on improving data quality is very impressive, although clearly it is still early days.