EBA makes supervisory reporting requirements easier to navigate

EBA has launched an interactive signposting tool for supervisory reporting that will help banks identify and understand the reporting requirements that are applicable to them.
The signposting tool is part of the EBA’s drive towards a more proportionate regulatory reporting framework and aims to support banks in the compliance process while reducing their compliance and reporting costs. The tool is particularly beneficial for small and non-complex institutions by reducing complexity and establishing a common business logic. EBA believes that this tool will help institutions understand the regulation and reduce the time and effort required to navigate the relevant requirements, which will ultimately lead to a reduction in compliance and reporting costs.
The signposting tool was developed in response to one of the recommendations in the EBA Report on the cost of compliance with supervisory reporting requirements, which was published in June 2021 (eventid=11233). The report highlighted the challenges faced by banks in complying with the growing number of regulatory reporting requirements, and the need for a more proportionate reporting framework. The signposting tool is a step towards achieving this goal by making the reporting requirements easier to navigate and understand.
The signposting tool is an interactive platform that helps institutions of different sizes and complexity identify the reporting requirements and templates that are relevant to them based on their type and scope of activities. The tool contains a list of all reporting requirements, including links to relevant legal acts, and provides guidance on how to navigate the reporting process. While the EBA makes all efforts to keep the tool up to date, it is meant to be used solely for orientation purposes and has no legal effect. Institutions are advised to consult the authentic versions of relevant legal acts for the reporting framework, including their preambles, as published in the OJ of the European Union.