27 Jun 2018
| Par The financial crisis we experienced ten years ago resulted in a substancial amount of public money being injected into banks to save them from failing and thus letting the taxpayers carrying the burden. The crisis revealed the need to overhaul the regulatory framework for banks and gave rise, via the Bank Recovery and Resolution Directive, to a new cross-border resolution mechanism for the Banking Union.
- Why set up the SRF Reporting and Liability Data Report templates?
- Why did the Single Resolution Board choose XBRL as the standard for data collection?
- What are the main challenges for National Resolution Authorities?
- What is the risk of poor-quality reporting data for the banks?
A number of banking groups among our clients have already started implementing XBRL reporting thanks to our software solution, regardless of their NRA’s current format requirement. They are now in a position to improve the quality of their data thanks to the business rules embedded in the XBRL reporting model, also called taxonomy.
Antoine Bourdais
Head of the Banking and Insurance Division at Invoke
Author
![]() | Yasmine TebaaDirector, Head of Marketing & Communication, Invoke |
Contributors
![]() | Antoine BourdaisDirector, Head of the Banking & Insurance Division, Invoke |
![]() | Antoine RouquèsHead of Professional Services for Supervisory Authorities, Invoke |
![]() | Jean-Marie Trespaillé-BarrauSubject Matter Expert, Head of the Regulatory Watch department, Invoke |