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Complementary cost-benefit assessment for the Integrated Reporting Framework

Between 2020 and 2021, the European System of Central Banks carried out a cost-benefit assessment on the Integrated Reporting Framework (IReF). Since then, further aspects that would be worth considering when drafting the IReF Regulation have been identified. An additional assessment by the banking industry and other stakeholders was therefore needed.

For example, further information is needed on the possibility of integrating country-specific requirements that are common across the euro area into IReF. Closer alignment between IReF and the ECB Regulation on reporting of supervisory financial information (FINREP solo reporting) may also be beneficial for both reporting agents and authorities.

To collect this additional information, the ECB launched a complementary cost-benefit assessment (complementary CBA) that was carried out between 5 May 2023 and 31 July 2023.

The national central banks of the Eurosystem, along with Sveriges Riksbank, selected representative national respondents so as to ensure a minimum coverage of 80% of their domestic banks in terms of total assets and include institutions of all sizes and types.

Additionally, any credit institution and deposit-taking corporation other than credit institutions resident in a participating country could express an interest in completing the questionnaire.

The first public report on the analytical results from the complementary CBA can be found below. The report assesses the extent to which national statistical reporting requirements could be usefully included in the ECB IReF Regulation.

Two further reports with the results from the analysis of the other topics covered in the complementary CBA are expected to be published by the end of March 2024.