EBA, EIOPA Announce DPM 2.0, Conduct Meet the Market

EBA, EIOPA Announce DPM 2.0, Conduct Meet the Market

By Prathamesh 19 June, 2023

The European Banking Authority (EBA) and European Insurance and Occupational Pensions Authority (EIOPA) announced a range of new developments, including the release of the Data Point Model 2.0.

Not so much a refit as a complete reimagining, the new modelling framework is an internal mechanism used by these EU regulators to define reporting requirements, templates and validation rules.Notable, in particular, for the far greater attention to versioning, the new model will be accessed and implemented by the regulators with a number of tools being developed for this purpose.

The DPM works with XBRL by deriving reporting taxonomies and XBRL formula rules from the more abstract framework. These taxonomies, in turn, are used to facilitate reporting by National Competent Authorities (also called ‘Supervisors’ in Europe) to the Regulators (EBA and EIOPA). The vast majority of NCAs oblige the use of XBRL as the format to be used by regulated firms in reporting back to them.

From the end of 2025, the EBA and EIOPA will require the use of xBRL-CSV in place of existing xBRL-XML, in part to facilitate what is expected to be increasingly granular data collections.

All of this change elicits (not unnaturally) a considerable number of questions. So at Eurofiling, on Wednesday of this week, key members of the EBA and EIOPA leadership teams conducted a Meet the Market session, answering a significant number of questions from attendees. Moderated by XBRL International’s John Turner with the able assistance of XBRL Europe’s Gilles Maguet, a lot of ground was covered, including the migration process that the regulators plan to follow in shifting from DPM1 to DPM2, alignment of filing rules, the focus on testing for rules and templates and a range of performance questions.

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