Minimize the complexity of multiple regulations with a single solution. CCH Tagetik EBA Supervisory Reporting is pre-packaged with the regulatory compliance tools banks need to meet FINREP, COREP, Asset Encumbrance, Funding Plan, and ALMM demands for greater disclosure. By automatically populating reporting templates with your EBA compliant data, finance isn’t weighed down by the burden of regulatory reporting. CCH Tagetik’s automated solution carries the load so you can meet tight deadlines with ease.
To reduce the risk of material errors, CCH Tagetik provides end-to-end process and data governance. Workflow manages the process and an audit log prevents small inquiries from turning into lengthy investigations. From data collection to final disclosure, you can comply confidently using CCH Tagetik.
3 reasons why CCH Tagetik EBA Supervisory Reporting let's you focus on your business
EBA Supervisory Reporting
From data collection to final disclosure to the regulators, CCH Tagetik EBA Supervisory Reporting comes with all the capabilities, financial intelligence, and process governance you need to address FINREP and COREP compliance and beyond.
- Ensure accuracy with controls, diagnostics, and validations
- Automatically cascade data into pre-built templates
- Workflow guides you from data collection to approval
- Reconciliation and matching with our intercompany cockpit
- Flexible configuration to meet your specific requirements
Key Benefits of CCH Tagetik EBA Supervisory Reporting
CCH Tagetik’s EBA Supervisory Reporting solution integrates seamlessly with all data sources and existing applications so you have a single platform for all financial performance management processes. Always up-to-date, we’ll keep your solution aligned with fluctuating EBA regulations with regular maintenance.
- Achieve fast compliance with a pre-packaged solution
- Easily map data from multiple sources
- Reconcile FINREP and COREP data with IFRS reporting
- Collaborate with all contributors
- Align stakeholders on one version of truth
What is EBA Supervisory Reporting?
The European Banking Authority (EBA) issued a set of reports, including FINREP and COREP, which fall under the category of supervisory reports. These supervisory reports handle the recognition and reporting forms for financial companies, banks, securities, investment companies and other financial intermediaries referred to in Article 107 of Legislative Decree 385/93.
The supervisory statistical reporting takes a closer look at the consolidated data of balance sheets and income statements, registered from information on individual companies belonging to the banking group. The reports require additional data relating to credit quality, securitization, life remaining derivative contracts, infra-group reports. Additional information relating to prudential supervision of heritage, solvency ratio, large risks, market risks, and the position international investment is also needed.
Regulatory reporting is one of the means through which the financial institution controlling entities analyze the financial situation of the institution.
For the banking business, the international regulatory standards are defined by the Basel Committee on Banking Supervision. This standardization body edicts guidelines on reports that banks have to provide their supervisory body. The latest set of guidelines is called Basel II and is currently enforced by the supervisory bodies. The general guidelines are adapted to each country via Country Specific Adjustments. For the insurance business, the solvency accord has instituted similar guidelines.
Generally, these guidelines are oriented around:
- ensuring sound financial practices
- ensuring the level of capital of the financial institutions covers the level of risk taken
- including correlation between various kinds of risk
They tend to ensure that in case the risks faced by the institution realized themselves the institution has the required available funds to cover the losses.
EBA Supervisory Reporting Resources
CCH Tagetik's EBA Supervisory Reporting is trusted by leading companies across all industries.
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