A new era of transparency - transforming EU Prudential Disclosures
The Pillar 3 Data Hub (P3DH) is a centralised digital platform developed by the European Banking Authority (EBA) to publish prudential disclosures by credit institutions across the European Economic Area (EEA). Its implementation responds to new mandates introduced under the Capital Requirements Regulation (CRR 3, Regulation (EU) 2024/1623) and Capital Requirements Directive (CRD VI, Directive (EU) 2024/1619), as part of the EU’s effort to enhance transparency, comparability, and accessibility of regulatory disclosures within the banking sector.
The P3DH initiative aims to move away from institution-specific web publication and establish the EBA as the central access point for prudential disclosures. This approach supports the European Commission’s broader digital finance and sustainable finance objectives, particularly in connection with the European Single Access Point (ESAP). Data submitted to the P3DH is expected to feed into ESAP in the coming years, enabling greater accessibility for investors, analysts, and the general public.
From 30 June 2025, large and other relevant institutions will be required to submit their Pillar 3 disclosures through the P3DH in a structured, machine-readable XBRL-CSV format, accompanied by data-extractable PDFs for narrative elements. These disclosures will be published directly by the EBA without any alteration, placing full accountability on the disclosing institutions.
The first reporting date under P3DH corresponds to the launch of the DPM 4.1 framework, which reflects significant updates introduced through CRR III. These include the revised treatment of credit risk under both standardised and internal models, adjustments to the operational risk framework, new templates for credit valuation adjustment (CVA) risk, expanded ESG disclosures, and specific guidance on exposures to crypto-assets. Disclosure areas are grouped into 22 sections, covering a broad range of prudential topics including key metrics, own funds, leverage ratio, liquidity, credit quality, remuneration, and asset encumbrance.
While the platform will eventually serve as the sole disclosure channel, a transition period from June to December 2025 allows institutions to simultaneously maintain their current publication practices. From March 2026, the P3DH will become mandatory for all applicable institutions.
To facilitate the transition, the EBA will issue onboarding guidance in early 2025. This will include technical specifications, interface instructions, and timelines to support integration. Institutions are expected to prepare by aligning internal systems and processes, ensuring the accuracy and completeness of disclosures, and obtaining management-level attestations.
Large and other relevant credit institutions across the EEA, as defined under CRR III.
As part of the initial rollout, institutions may also voluntarily disclose information on MREL and TLAC, although this is not required under the ITS. These additional disclosures can enhance market transparency on resolution planning and loss-absorbing capacity.
In summary, the P3DH represents a fundamental shift in how prudential data is reported and accessed across the EU. By introducing a harmonised digital platform for structured disclosures, the EBA seeks to reinforce market discipline, reduce fragmentation, and lay the foundation for streamlined access to supervisory data.
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