On 30 July 2024, the European Banking Authority (EBA) published a consultation paper setting out proposals to update the current implementing technical standards (ITS) on reporting for resolution planning and execution purposes that supplement the Bank Recovery and Resolution Directive.
The proposed changes are intended to foster further harmonisation and enhance usability of data. The main changes introduced in this regard are to bring forward the submission deadlines in order to align them across the different resolution authorities. There are also proposals to:
- Amend the Relevant Legal Entity thresholds.
- Introduce the notion of liquidation entities.
- Add information on ownership structure.
- Introduce granular reporting of liabilities data.
- Extend data reported for the criticality assessment of economic functions, financial market infrastructures and on relevant services for operational continuity.
Next steps
The deadline for comments on the consultation paper is 30 October 2024.
A public hearing on the draft ITS will take place via an online meeting on 12 September 2024 from 10:00 to 11:30 CET. The deadline for registration is 9 September 16:00 CET.
After the consultation, the draft ITS will be submitted to the European Commission for endorsement before being published in the Official Journal of the European Union.
The EBA will also develop the data point model (DPM), XBRL taxonomy and validation rules based on the final draft ITS.
The draft ITS provide for the new framework to be operational in 2026 with first reporting reference date of 31 December 2025.