On 9 April 2024, the European Banking Authority (EBA) published its final Guidelines on the resubmission of historical data under the EBA reporting framework. The Guidelines form part of the EBA’s work to ensure that the regulatory reporting framework remains efficient and effective and form the EBA’s response to one of the recommendations in the EBA Report on the cost of compliance with supervisory reporting requirements.

The Guidelines provide a common approach to the resubmission of historical data by financial institutions to Member State competent and resolution authorities in case of errors, inaccuracies or other changes in the data reported, in accordance with the supervisory and resolution reporting framework developed by the EBA. They aim to assist institutions in their reporting obligations (based on various reporting acts to which they are subject to) and are not intended to change the reporting rules.

The Guidelines are built on the proportionality principle of the underlying reporting requirements and set out a general approach for the resubmission of historical data with the aim of limiting the number of historical periods subject to resubmission, due to errors or inaccuracies. Under this general approach, financial institutions are expected to resubmit the corrected data for the current reporting date, and historical data for past reference dates, going back at least one calendar year (except for the data with monthly reporting frequency). The Guidelines also clarify the general circumstances under which the resubmission may not be required. Following the feedback received during the public consultation from May to July 2023, the EBA further clarified various provisions in the Guidelines, and adjusted the precision requirement in the EBA filing rules for monetary data from 1000 to 10 000, which should reduce the number of resubmissions. The new precision requirement will be applicable as of 1 April 2025.

The resubmission of historical data is equally relevant for all types of financial institutions to ensure consistency of data and to allow users at competent authorities, resolution authorities and the EBA to use high quality, consistent and complete data.