EBA Deactivates Validation Rules in Supervisory Reporting ITS Update

EBA Deactivates Validation Rules in Supervisory Reporting ITS Update

By Prathamesh 2 April, 2024
news

The European Banking Authority (EBA) has recently revised its Implementing Technical Standards (ITS) on supervisory reporting, deactivating certain validation rules due to inaccuracies or IT problems. This update advises Competent Authorities in the EU not to formally validate data against the deactivated rules.

Validation rules are integral to ensuring the quality and precision of XBRL reports, enabling reporting entities to detect and resolve data quality issues before submission. The EBA’s consistent review and update of these rules aim to enhance overall reporting accuracy, benefiting financial institutions and regulatory bodies alike.

To find out more details please visit : https://www.eba.europa.eu/