IReF and BIRD projects: Bank of Italy publishes the slides of workshop about CBA questionnaire and the FAQ about the same questionnaire and IReF project
The European System of Central Banks (ESCB) and its Statistics Committee (STC) strive to increase the efficiency of data collection from banks and to reduce their reporting burden, while continuing to provide policy makers and analysts with high-quality data.
Eurosystem Integrated Reporting Framework
The IReF project aims to integrate the Eurosystem’s statistical requirements for banks into a single standardised reporting framework that would be applicable across the euro area and might also be adopted by authorities in other EU countries.
The IReF mainly focuses on ECB requirements relating to banks’ balance sheet and interest rate statistics, securities holdings statistics, and granular credit data.
On 14th January 2021, Bank of Italy published the slide of workshop about CBA questionnaire and the FAQ about the same questionnaire and IReF project.
The slides have been sent by e-mail to all Banks and they are now availabre on webisite section of IReF project.
Among the FAQ it’s important to note:
How is the project of evolving of Central Credit Register placed with IReF project?
“ The production times of IReF project and the integration, in Italy, of Central Credit Register with AnaCredit are overlapped. The datails of the project of integration between CR and AnaCredit will be defined when the features of IReF will be sufficiently consolidated. In this way it will be possible to develop the implementation of reporting system. Anyway, on this point a communication will be sent in advance”.
Will the reporting of Non-Performing Loans (NPL) be continued to exist with IReF introduction?
“Yes, it will. The overlap areas are limitated and the production of data for the identification of NPL, follows rules don’t allow to collect data one time. Anyway, the identification of NPL had already been connected to AnaCredit in concepts, definitions and in domain of the variables”.
Banks’ Integrated Reporting Dictionary (BIRD)
The project is an integrated reporting dictionary, which provides banks with up-to-date reference material to help them produce statistical and supervisory reports.
It provides a precise description of the data that banks should extract from their internal systems to generate reports. It also offers clear rules for transforming these data so that they comply with reporting requirements. It aims to alleviate banks’ reporting burden and improve the quality of data reported to authorities.
The BIRD was developed by the ESCB and the banking industry. Its documentation is freely available to all interested parties, who can decide whether or not they will participate in the initiative.
Read or download here:
The slides of workshop about CBA questionnaire, on 25th and 26th November 2020
The FAQ about the same questionnaire and IReF project
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