Preparing for the EBA reporting framework
The EBA reporting framework 3.0 aims to facilitate institutions’ compliance and improve the consistency and quality of information. The model comprises amendments linked to the revised Capital Requirements Directive and Regulation (CRD5 and CRR2), the revised Bank Resolution and Recovery Directive (BRRD2), and the Investment Firms Regulation (IFR).
Financial institutions will need to prepare for the new model, either through the adoption of better technology or engaging professional services, to adapt to the new templates, changes to current templates, new XBRL format and additional data requirements.
THE SUADE APPROACH
The open-source data model FIRE used by Suade offers an unrivalled level of preparedness and flexibility to quickly adapt to changes and new regulation with minimal impact to BAU. The data points are mapped once and used across any relevant requirements, including new rules added under DPM 3.0. With Suade, firms can benefit from regulatory updates at no extra cost.
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