The European Banking Authority (EBA) today published the final technical package for version 4.0 of its reporting framework, which will apply as of the first half of 2025. The package marks the transition to the new Data Point Model (DPM) semantic glossary and introduces the enhanced capabilities of the DPM 2.0 model.The technical package provides the standard specifications that include the validation rules, the data point model (DPM) and the XBRL taxonomies to support the following reporting obligations:Reporting of information by issuers of asset-referenced tokens (ARTs) and electronic money tokens (EMTs).New Implementing Technical Standards (ITS) amending the supervisory reporting framework (COREP templates) to implement the most immediate changes driven by the EU Banking Package (Capital Requirements Regulation – CRR3 and Capital Requirements Directive -CRDVI) published on 19 June in the Official Journal.Minor amendments to reporting obligations by class 2 investment firms (COREP templates), in alignment with the CRR3/CRDVI changes.Updated requirements for the registers of information under the Digital Operational Resilience Act (DORA) following the adoption by the EU Commission of the Commission Implementing Regulation (EU) 2024/2956 with regard to standard templates for the register of information.This draft technical package includes a version of the data dictionary contents in both formats the DPM 1.0 and the new format DPM 2.0.The DPM Query Tool has also been updated to reflect the current release. Background and next stepsLast year, the EBA announced the migration to DPM 2.0 methodology and published the related documentation. In June this year, the EBA published the plans for the migration to DPM 2.0 and to the new glossary.Together with the draft technical package, the EBA published in October a set of FAQs providing additional explanations.
Brief
On December 19, 2024, the European Banking Authority (EBA) issued an update regarding The EBA releases the technical package for its 4.0 reporting framework". This update marks a significant transition to the new Data Point Model (DPM) semantic glossary and introduces enhanced capabilities of DPM 2.0 model. The technical package provides standard specifications for reporting obligations, including ARTs/EMTs, COREP templates, and DORA registers.
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Purpose:
The European Banking Authority (EBA) has published a final technical package for version 4.0 of its reporting framework, marking the transition to the new Data Point Model (DPM) semantic glossary and introducing enhanced capabilities of the DPM 2.0 model. This update aims to provide standard specifications for supervisory reporting obligations, including reporting by issuers of asset-referenced tokens (ARTs) and electronic money tokens (EMTs), updated requirements for registers of information under the Digital Operational Resilience Act (DORA), and minor amendments to reporting obligations by class 2 investment firms.
Effects on Industry:
The EBA’s technical package will have a significant impact on the financial industry, particularly in the areas of supervisory reporting, risk management, and operational resilience. The updated requirements for ARTs and EMTs issuers will require them to provide more detailed information about their token-related activities. Additionally, the introduction of DPM 2.0 will improve data quality and consistency across the EU’s banking sector. Furthermore, the updated COREP templates will enable class 2 investment firms to comply with the Capital Requirements Regulation (CRR3) and Capital Requirements Directive (CRDVI) changes.
Relevant Stakeholders:
The stakeholders affected by this update include:
- Issuers of asset-referenced tokens (ARTs) and electronic money tokens (EMTs)
- Class 2 investment firms
- EU banks and financial institutions
- Regulators, including the European Banking Authority (EBA), European Commission, and national authorities
- Data providers and reporting software vendors
Next Steps:
To comply with this update, stakeholders must:
- Review and implement the updated technical package for version 4.0 of the EBA’s reporting framework
- Adjust their reporting systems to accommodate the new DPM 2.0 model and enhanced XBRL taxonomies
- Update their risk management and operational resilience practices in line with the revised COREP templates
Any Other Relevant Information:
The EBA has published a set of FAQs and plans for migration to DPM 2.0, providing additional guidance and support for stakeholders. The transition to version 4.0 will occur in the first half of 2025, allowing institutions sufficient time to prepare and implement the necessary changes.
