EBA and EIOPA publish Data Point Modelling Standard 2.0 to foster collaboration and harmonisation in the field of supervisory reporting

EBA and EIOPA jointly published the DPM Standard 2.0. This new standard represents a significant advancement and improvement over the previous version and serves as a crucial component of the data dictionaries and reporting frameworks established by the EBA and EIOPA.
The DPM Standard 2.0 is a response to the challenges posed by the ever-increasing volume, granularity, and complexity of data. It lays the foundation for a robust and future-proof data dictionary that is supported by adequate management tools. The enhanced standard aims to facilitate stronger collaboration and higher harmonization among stakeholders while also enhancing the digital processing of regulatory data required by the authorities.
The core objective of the DPM Standard 2.0 is to establish a fully consistent approach for modeling reporting requirements. It provides a comprehensive methodology that supports the entire reporting lifecycle, starting from data definition and extending to data exploration.
The DPM methodology has played a crucial role over the past decade in integrating the regulatory reporting frameworks of the EBA and EIOPA. However, with the evolving reporting landscape, it became evident that the previous DPM Standard 1.0 needed enhancements to address changes in reporting and reduce costs. This realization led to the inception of the DPM Refit project, a joint effort by the authorities to evolve the DPM and tackle the challenges associated with increased data volume, granularity, and complexity.
The enhanced DPM Standard 2.0 is made available as a public good, benefitting all stakeholders involved in the reporting process. It offers a common data definition standard and tools that can be freely adopted, ensuring consistency and compatibility across various reporting frameworks.
In the long term, the DPM Standard is expected to play a crucial role in constructing a single cross-sectoral dictionary for the entire financial sector. By providing a consistent approach to modeling reporting requirements, the standard will facilitate the integration of concepts and definitions in a common data dictionary, enabling semantic integration.
The publication also mentions that the Solvency II Directive, the PEPP Regulation, the CRR, the BRRD, and the IFR require the development of ITS for reporting formats, templates, instructions, methodologies, definitions, and IT solutions. The DPM Standard aligns with these requirements and serves as a foundation for creating data exchange specifications in XBRL Taxonomy format.