EU Regulatory Reporting to Get Major Overhaul with New Standard

Regulatory reporting in Europe is on the cusp of major changes. The European Banking Authority (EBA), European Central Bank (ECB), and European Insurance and Occupational Pensions Authority (EIOPA) have opened a consultation on DPM 2.1, an update that could revolutionize how financial institutions manage data for supervisory reporting across the EU.

The proposed standard builds upon existing frameworks, including the Data Point Model (DPM) Refit project and DPM 2.0. According to Regnology's analysis of the proposals, DPM 2.1 aims to shift regulatory reporting away from static templates towards a shared, machine-readable data architecture.

The introduction of explicit JSON taxonomies is expected to make it easier for systems to exchange regulatory information and reduce processing overhead when handling complex data transfers.