New Data Point Model Tools from the EBA

Posted on March 9, 2018 by Editor

The European Banking Authority (EBA) manages the COREP/FINREP taxonomies that govern the collection of banking data across Europe. To help control one of the larger financial risk reporting frameworks in the world, the EBA uses a Data Point Model data dictionary to simplify and harmonise reporting needs. The DPM, in turn, constrains and controls the automated generation of the EBA’s XBRL taxonomies.

The DPM contains the harmonised data requirements included in the EBA’s technical standards and guidelines. This dictionary provides interpretations of data exchange requirements for a range of relevant stakeholders. Regulators, supervisors and financial institutions use the DPM as a reference point and common repository of the data definitions referred to in the European authority’s banking regulations.

The DPM plays a key role in bridging the communications gap between business and IT by providing that necessary common understanding. The business concepts are specified in the DPM according to formal rules, as required by IT specialists, while still being manageable by policy experts and other data users.

The model also contains information about what data should be reported and how it should be exchanged. It is closely linked with the information about institutions and their reporting obligations, which are the subject of a complementary Master Data Management system.

The DPM includes:

• A common core vocabulary of elementary financial and prudential concepts, arranged in different categories and ready to be used in the defining regulatory data;
• A complete set of data points that are part of the regulatory frameworks, described by a distinct combination of elementary concepts of the core vocabulary;
• The reporting templates, their rendering information, the mapping of template cells with the data points, and the agreed validation rules. Additional metadata required for automating the generation of XBRL taxonomies is also included in the DPM.

The EBA has recently announced the availability of a new set of tools for accessing the DPM.