EBA publishes discussion paper on the centralisation of EEA banks Pillar 3 disclosures in the EBA Pillar 3 data hub

EBA has released a discussion paper outlining the development of the Pillar 3 data hub, a central repository for prudential disclosures from institutions in the EEA. The hub aims to enhance transparency and comparability of banking data by providing a single access point for users. It will include visualisation and exploration tools for better analysis across institutions and disclosure periods.
The EBA invites feedback on various aspects of the Pillar 3 data hub, including processes for institutions, the EBA, and users, as well as potential challenges. The hub will receive information directly from large and other credit institutions, while small and non-complex institutions will have their data prepared by the EBA. The discussion paper also introduces the concept of vLEI for secure submission of data.
The project is part of the Banking Package in the CRR 3 and CRD 6 (eventid=24399), with the goal of promoting market discipline, providing better access to data, and contributing to the soundness of the European financial system. The EBA plans to make the Pillar 3 data hub operational in 2025. Feedback on the discussion paper is welcomed until 29 March 2024, and a public hearing will be held on 23 January 2024.