The aim of the European Central System of Bank´s (ECSB) Integrated Reporting Framework (IReF) project is to integrate the Euro Zone´s statistical requirements for banks into a single and standardized reporting framework. The implementation of the framework is designed to arrive at one standardized reporting set for existing reporting requirements and will be applicable across the Euro area, potentially being adopted by authorities in other EU member states.
In this white paper, we assess the IReF and how the resulting automation of the reporting process is likely to impact financial institutions of all sizes.
With full implementation of the framework due to take place over the next five years, and with more harmonization efforts set to follow across the European financial sector, the impact on both banks and regulators will be significant.
Insight
This is the third and final article in a series of Chartis Points of View that explore the evolution of regulatory reporting technology and the context in which it is changing.
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The second chapter in a series of Point of View white papers exploring the evolution of regulatory reporting technology and the context in which it is transforming.
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The first in a series of Point of View white papers exploring the evolution of regulatory reporting technology and the context in which it is transforming.
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