Version in force , Inserted +2,753 −0§
Amended by Regulation (EU) 2019/876 32019R0876 on EUR-Lex (external, EUR-Lex)
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Explanation, written by a model and checked against the cited text
A new Article 430c is added, requiring EBA to prepare a feasibility report on developing a consistent and integrated system for collecting statistical, resolution and prudential data, and to report its findings to the Commission by 28 June 2020.
The provision sets out who EBA must involve in drafting the report and lists elements the cost-benefit analysis must cover at a minimum, including a data overview, a standard data dictionary, a joint committee with the ESCB, and the feasibility and design of a central data collection point with specified functions.
It further states that within one year of that report's presentation, the Commission shall, if appropriate and taking the feasibility report into account, submit a legislative proposal to the European Parliament and the Council for a standardised and integrated reporting system.
Cited: Art. 430c, v2 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex
Inserted in this version 02013R0575-20190627
Article 430c Feasibility report on the integrated reporting system 1. EBA shall prepare a report on feasibility regarding the development of a consistent and integrated system for collecting statistical data, resolution data and prudential data and report its findings to the Commission by 28 June 2020. 2. When drafting the feasibility report, EBA shall involve competent authorities, as well as authorities that are responsible for deposit guarantee schemes, resolution and in particular the ESCB. The report shall take into account the previous work of the ESCB regarding integrated data collections and shall be based on an overall cost and benefit analysis including as a minimum: (a) an overview of the quantity and scope of the current data collected by the competent authorities in their jurisdiction and of its origins and granularity; (b) the establishment of a standard dictionary of the data to be collected, in order to increase the convergence of reporting requirements as regards regular reporting obligations, and to avoid unnecessary queries; (c) the establishment of a joint committee, including as a minimum EBA and the ESCB, for the development and implementation of the integrated reporting system; (d) the feasibility and possible design of a central data collection point for the integrated reporting system, including requirements to ensure strict confidentiality of the data collected, strong authentication and management of access rights to the system and cybersecurity, which: (i) contains a central data register with all statistical data, resolution data and prudential data in the necessary granularity and frequency for the particular institution and is updated at necessary intervals; (ii) serves as a point of contact for the competent authorities, where they receive, process and pool all data queries, where queries can be matched with existing collected reported data and which allows the competent authorities quick access to the requested information; (iii) provides additional support to the competent authorities for the transmission of data queries to the institutions and enters the requested data into the central data register; (iv) holds a coordinating role for the exchange of information and data between competent authorities; and (v) takes into account the proceedings and processes of competent authorities and transfers them into a standardised system. 3. By one year after the presentation of the report referred to in this Article, the Commission shall, if appropriate and taking into account the feasibility report by EBA, submit to the European Parliament and to the Council a legislative proposal for the establishment of a standardised and integrated reporting system for reporting requirements.