EBA consults on approach to the resubmission of historical data under the EBA reporting framework

EBA has launched a public consultation on Draft Guidelines on resubmission of historical data under the EBA reporting framework.
EBA has released Guidelines to provide a common approach for financial institutions to resubmit historical data to competent and resolution authorities due to errors, inaccuracies, or changes in the data reported in accordance with the supervisory and resolution reporting framework. The objective of the draft Guidelines is to ensure accurate, consistent, and complete supervisory and resolution data, which is important for all types of financial institutions and users in competent authorities, resolution authorities, and the EBA.
The Guidelines build on the intrinsic proportionality of the underlying reporting requirements, but specific questions are raised to get feedback on the possibility of considering additional proportionality elements. The draft Guidelines were developed in response to one of the recommendations in the EBA Report on the cost of compliance with supervisory reporting requirements (recommendation 25), which highlighted the need for a common approach to the resubmission of historical data under the EBA reporting framework.
The general approach to the resubmission of historical data set out in the draft Guidelines aims to limit the amount of past historical periods subject to resubmission, depending on the frequency of the original reporting and reference dates affected by the errors or inaccuracies that require corrections and resubmissions. Under this general approach, financial institutions are expected to resubmit the corrected data for the current reporting date and historical data for past reference dates going back at least one calendar year (except for the data with monthly reporting frequency). The Guidelines also set out general circumstances when the resubmission of historical data may not be required.
A public hearing on the draft ITS will take place via online meeting on 7 June 2023 from 10:00 to 11:30 CEST. Please register for the hearing here by 5 June 2023 16:00 CEST. Comments to this consultation can be sent to the EBA by clicking on the „send your comments“ button on the consultation page. Please note that the deadline for the submission of comments is 31 July 2023. All received contributions will be published at the end of the consultation, unless requested otherwise.