iReF

What is IReF?

The IReF (Integrated Reporting Framework) is a standardised data collection framework developed by the European Central Bank (ECB) to support regulatory reporting across Europe. It is designed to integrate and streamline the reporting of statistical data from banks, by consolidating datasets such as Balance Sheet Items (BSI), Monetary Financial Institutions (MIR) statistics, Securities Holding Statistics (SHS), and AnaCredit - into a single, harmonised framework. This includes information on financial instruments, counterparties, and classifications that banks and other financial institutions must use when preparing regulatory submissions.

The IReF initiative focuses on streamlining and harmonising data reporting requirements across the euro area. This effort aims to reduce the reporting burden on banks while meeting the information needs of the European System of Central Banks (ESCB). By collecting more granular data, the ECB can handle data aggregation and analysis, thereby simplifying reporting processes, eliminating redundancy, and improving data quality and comparability. Additionally, IReF seeks to rationalize data, ensuring that a single granular dataset can fulfill multiple reporting obligations, which reduces the overall reporting workload and enhances data consistency across various regulatory frameworks.

For more information see our "Guide to Navigating ECB's IReF", or to find out how we can assist with your IReF needs, speak to a Suade member today!