Banks and investment firms (Società di Intermediazione Mobiliare - SIMs) report supervisory and resolution data through harmonized reporting frameworks that are common across the European Union.
The reporting frameworks are defined by the European Banking Authority (EBA) through Implementing Technical Standards (ITS). They comprise data reporting templates and the related instructions. Once adopted by the European Commission by means of an Implementing Regulation, the ITS become directly applicable in all Member States.
The EBA also develops the technical documentation relating to the Data Point Model (DPM), the taxonomy and transmission format of the reporting frameworks (XBRL), as well as data quality checks (validation rules). Reports are collected by Banca d’Italia through the Infostat platform.
For supervisory purposes, banks submit, among other things, statistical information (FINREP, FINancial REPorting), prudential information (COREP, COmmon REPorting), data for the identification of systemically important institutions, and information relating to funding plans and staff remuneration. SIMs submit prudential information and data on staff remuneration.
Banca d’Italia forwards banks’ supervisory reports to the European Central Bank (ECB) and the EBA, while the supervisory reports submitted by SIMs are transmitted solely to the EBA.
For resolution purposes, banks submit data concerning their Minimum Requirement for Own Funds and Eligible Liabilities (MREL) and Resolution Plans. Banks also submit notifications of impracticability of bail-in recognition clause.
The information is forwarded by Banca d’Italia to the Single Resolution Board (SRB) and the EBA.
Since 2020, Banca d’Italia has collected harmonized information from banks and transmitted it to the Single Resolution Fund (SRF) for the purpose of determining annual contributions to the Single Resolution Fund.
Banca d’Italia applies the same reporting requirements established for banks to financial intermediaries falling within the scope of Article 106 of the Italian Consolidated Law on Banking (Testo Unico Bancario - TUB). However, in certain areas specific treatment applies, or certain requirements provided for under European regulation are not applicable.
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