CEBS guidelines on common reporting framework

13 January 2006

CEBS published its guidelines on a common reporting framework (COREP) to be used by credit institutions and investment firms when they report their solvency ratio to supervisory authorities under the Capital Requirements Directive. Financial groups will no longer be required to prepare and submit their supervisory reports using up to 25 different national formats and variables and a variety of reporting technologies. Most EU supervisors will adopt around 80 percent of the core data in the common framework.

According to the Committee, the volume of required data was reduced by 70 percent from the original proposal. CEBS has agreed that national authorities may allow a certain degree of flexibility in their roll-out plans for the new framework, especially with regard to the IT challenges facing the industry.

National supervisors are free to decide on the technical aspects involved in implementation. CEBS considers, however, that XBRL*** can be a helpful tool in constructing a harmonised European reporting system. CEBS is developing an XBRL taxonomy, which will be made available without cost to national authorities and supervised credit institutions.

Press release
Cover note
Explanatory notes
Feedback document

Reporting framework:
Credit risk
Market risk
Operational risk
Overview and group solvency details

© CEBS - Committee of European Banking Supervisors