AI Summary of Article 430c Feasibility report on the integrated reporting system
The European Banking Authority (EBA) is mandated to prepare a feasibility report by 28 June 2020 regarding the development of an integrated system for the collection of statistical, resolution, and prudential data. This report will involve collaboration with competent authorities, including those overseeing deposit guarantee schemes and the European System of Central Banks (ESCB), and will utilise the ESCB’s prior work to ensure continuity.
The report will include an analysis of existing data collection practices, the establishment of standardised reporting requirements, and the potential creation of a central data collection point designed to enhance data management and security. Following the report's presentation, the Commission may propose legislative measures to advance towards a standardised reporting framework.
Article 430c Feasibility report on the integrated reporting system
1. EBA shall prepare a report on feasibility regarding the development of a consistent and integrated system for collecting statistical data, resolution data and prudential data and report its findings to the Commission by 28 June 2020.
2. When drafting the feasibility report, EBA shall involve competent authorities, as well as authorities that are responsible for deposit guarantee schemes, resolution and in particular the ESCB. The report shall take into account the previous work of the ESCB regarding integrated data collections and shall be based on an overall cost and benefit analysis including as a minimum:
(a) an overview of the quantity and scope of the current data collected by the competent authorities in their jurisdiction and of its origins and granularity;
(b) the establishment of a standard dictionary of the data to be collected, in order to increase the convergence of reporting requirements as regards regular reporting obligations, and to avoid unnecessary queries;
(c) the establishment of a joint committee, including as a minimum EBA and the ESCB, for the development and implementation of the integrated reporting system;
(d) the feasibility and possible design of a central data collection point for the integrated reporting system, including requirements to ensure strict confidentiality of the data collected, strong authentication and management of access rights to the system and cybersecurity, which: