The Integrated Reporting Framework

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. 

Standardization and easing reporting burdens

By integrating their existing statistical requirements into the framework, banks´ reporting obligations will be standardized thereby reducing redundancy and overlaps. In addition, this will lower the reporting burden and enhance data quality, while also helping with the automation of data processing and limiting the cost of any further changes. For banks operating across more than one country this will amount to a significant advantage given that it will facilitate consistent and standardized reporting across national boundaries. Ultimately, the ECSB anticipates that the IReF will improve data collection and quality and support agile policy making and analysis.

Read the full whitepaper 

Our white paper assesses the IReF and how the resulting automation of the reporting process is likely to impact on 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.

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