The European banking reporting ecosystem for statistical, prudential and resolution purposes has become increasingly complex and costly for both authorities and financial institutions. This paper analyses the intense debate underway on how to rationalize the system for collecting these data and improve the existing framework, examining both the measures already taken by the European authorities and the two main streams of possible initiatives.
This paper argues that the adoption of the most innovative approaches to replace the existing setup appears to be premature, especially because the available empirical case studies and trials are too simplistic and therefore not yet convincing. Conversely, the implementation of the ESCB's IReF and BIRD projects and the wider integration initiative at the European level, following the EBA's feasibility study, are important and tangible measures to significantly reduce the reporting burden for all stakeholders.
