ECB releases latest reporting taxonomy

Posted on June 25, 2021 by Editor

The European Central Bank (ECB) has published the fifth version of its reporting taxonomy. This is used by national competent authorities (NCAs) in submitting supervisory financial reporting data points (SFRDP) to the ECB, in accordance with European regulations on supervisory reporting.

The SFRDP 5.0.0 taxonomy package uses XBRL to provide “a uniform technical format for data collection, defining the data items, business concepts, relations, visualisations and validation rules.” The changes to the latest version are largely technical in nature, and the ECB notes that it does not create any additional legally binding obligations on NCAs.

The ECB taxonomy is an extension of that used by the European Banking Authority (EBA) and included in its reporting framework, facilitating consistency across supervisory reporting to the two organisations.

Read more here and here.

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