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HomeComplementary cost-benefit assessment of the integrated reporting framework
Additional analytical value and operational aspects
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In recent years the Eurosystem has been conducting a cost-benefit analysis to assess the merits of establishing an Integrated Reporting Framework (IReF) and the features this might have. This analysis has been conducted in close cooperation with the banking industry and other relevant stakeholders, including national central banks (NCBs) in the European System of Central Banks (ESCB) as reporting agents and compilers, as well as ESCB user committees and ECB Banking Supervision. The qualitative stock-take carried out in 2018 was used to design scenarios for the IReF data collection. These were subsequently examined in the cost-benefit assessment (CBA) conducted between November 2020 and April 2021. Following the launch of the IReF Programme and its non-IT design phase in December 2021. the Eurosystem conducted an in-depth analysis of the feedback received in the IReF CBA in order to develop the IReF. This analytical work was key to defining the main characteristics of the IReF and also showed the need for an additional assessment to be carried out together with the banking industry and other stakeholders. This would be done to resolve residual gaps and ensure that the IReF would effectively represent a first step towards integrating statistical, prudential and resolution requirements on a wider scale. These questions were addressed in the complementary CBA launched in May 2023. The topics covered in the complementary CBA are analysed in three publications. The first of these, focusing on the extension of the IReF Regulation to cover country-specific requirements, was released in February 2024. This second report concentrates on the topics that were tested in the complementary CBA for the purpose of adding analytical value for users and supervisors and operationalising the IReF. The third report focuses on the possible closer alignment of the IReF with FINREP solo, detailing the banking industry’s responses to various facets of this objective. The report details only the responses from the banking industry on these various topics. The banking industry was also involved in the analysis of the results in the context of a workstream of the Banks’ Integrated Reporting Dictionary (BIRD).
- Published:
- Corporate author(s): European Central Bank
- Themes: Banks, insurance
- Subject: banking supervision , cost-benefit analysis , euro area , European Central Bank , Eurosystem , statistics
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| ISSN | ISBN 978-92-899-6666-5 | DOI 10.2866/077643 | Catalogue number QB-02-24-346-EN-N |
- Released on EU publications website:
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