The European Banking Authority (EBA) has published its final report on the draft implementing technical standards (ITS) on resolution planning reporting, together with a press release. Firms must provide necessary information to resolution authorities, as mandated by the Bank Recovery and Resolution Directive, to develop resolution plans. The ITS outlines procedures, standard forms and templates for the provision of information required by resolution authorities to draw up these plans. This comprehensive review of the ITS aims to achieve full harmonisation and simplification of EU reporting requirements, reducing compliance costs by avoiding duplication of data requests and eliminating data points that are either redundant or of limited value.
Measures to support this in the new ITS include:
- Relieving entities from parallel data collections based on legal obligations coming from different authorities.
- Implementing a modular core-plus-supplement approach that reduces the scope of reporting obligations for certain categories of reporting entities based on their size and complexity.
- Removing duplications and overlapping data points with MREL/TLAC, CoRep and FinRep, where the reporting entity has already submitted this data.
These ITS will repeal the EC's Implementing Regulation (EU) 2018/1624, with a view to making the technical standards more user-friendly for institutions. The IT solutions for supervisory reporting, including templates and instructions, have also been published on the EBA website. The draft ITS will be submitted to the European Commission (EC) for endorsement before being published in the Official Journal of the EU. The EBA will also develop the data point model (DPM), XBRL taxonomy and validation rules based on the final draft ITS. The new framework will be operational in 2026, with the first reporting reference date of 31 December 2025.
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