Towards an ESCB integrated reporting framework

Transcription

1 ECB-Unrestricted Jean-Marc Israël Analytical Credit & Master Data Division Towards an ESCB integrated reporting framework Webinar 15 February 2018

2 Current ESCB approach to data collection from banks (1/3) Countries are implementing ECB datasets in heterogeneous ways: NCBs/NCAs Country A Integrated Reporting Framework ESCB and matching by NCBs/NCAs ECB MFI balance sheet items statistics () Country B B.o.p. & I.i.p. MFI interest rates statistics (MIR) Monetary Data Credit Register Sector accounts Securities holdings statistics (SHS) Security-bysecurity reporting Supervisory Data 2

3 Current ESCB approach to data collection from banks (2/3) The same bank faces different requirements across euro area countries: Bank defined by the bank NCBs Country A Integrated Reporting Framework Operational Systems Country B Credit Register Monetary Data Sector accounts B.o.p. & I.i.p. Security-by-security reporting Supervisory Data 3

4 Current ESCB approach to data collection from banks (3/3) Banks face different reporting requirements across European countries Particularly challenging for cross-border banks Statistical reporting by banks is often not integrated: Large number of reports, with different transmission frequencies and timelines, and different levels of aggregation Duplications and overlaps, complex reporting schedules and processes Many ad hoc requests to fill information gaps Thus data often extracted from internal banking systems in an unstructured way MIR MIR SHS MIR (Quarterly) (Quarterly) MIR SHS (Quarterly) SHS Month Jan Feb Mar Apr May 4

5 ESCB long-term strategy Approach to data collection from banks: Standardise and integrate existing frameworks for banks reporting across domains and across countries ESCB Integrated Reporting Framework Collect data only once, via integrated reporting framework Phase 1 on ESCB statistical requirements Banks Integrated Reporting Dictionary Support reporting agents to optimally organise the information available in their internal systems 5

6 Envisaged approach to data collection from banks Banks ESCB/SSM Operational Systems by banks defined by banks BIRD input layer by banks defined by banks and authorities IReF collection layer by the ESCB Derived statistics? MIR SHS b.o.p., i.i.p & sector accounts BIS, IMF & OECD datasets Other reports Voluntary! BIRD IReF Single Data Dictionary (SDD) 6

7 The ESCB European Reporting Framework Integrated reporting scheme for banks across countries & across domains with a focus on ECB statistical requirements Main objectives: Consolidation of reporting requirements into one integrated set of cubes Simplification of the reporting Standardisation across countries Prone to automation Ensure proportionality 7

8 Expected advantages for reporters Reduce redundancies => less consistency checks Fully benefit from the BIRD, as a unique reporting would be in place Standard reporting scheme in terms of variables & levels of breakdowns Cross-border banking groups to benefit from cross-country standards Reduced need for ad hoc requests Enhanced stability of reports over time: more prone to automation Unique data model to describe reporting scheme No differences across datasets Less mid-aggregations for reporters due to increased granularity 8

9 Datasets in the scope of Phase 1 Securities holdings statistics (SHS) MFI balance sheet items statistics () MFI interest rates statistics (MIR) Differences Frequency: e.g. MFI balance sheet M & Q, SHS-S Q Timeliness: e.g. MFI b/s reported to ECB 15 w.d. after end of ref. period, SHS 70 calendar days after end of ref. period 9

10 The cost-benefit analysis (CBA) Aim Assess jointly with the banking industry the IReF impact before any decision on implementation Different from ESCB procedure for establishing an ECB legal act Various scenarios evaluated on reporting and production aspects Assessment made in close cooperation with banking industry Cost-benefit analysis expected to run over 2018 until mid-2019 Two main steps envisaged starting with a qualitative stock-taking exercise, and continuing with a more quantitative cost-benefit questionnaire 10

11 Questions? Rubric Thank you! Questions 11