ECB announces new timeline for harmonisation of banks’ statistical reporting

4 December 2024

• Start of reporting under Integrated Reporting Framework currently planned to start in late 2029
• Eurosystem expected to release detailed implementation plan in late 2025

The European Central Bank (ECB) today announced an updated timeline for the Integrated Reporting Framework (IReF) programme. The aim of the IReF is to harmonise statistical reporting across euro area banks, reduce the reporting burden and enhance the quality of data available to policymakers and analysts.

Since mid-2023 the Eurosystem has been conducting a comprehensive IReF investigation phase to define the business and IT aspects of the framework’s implementation. A key outcome of this investigation phase will be a detailed implementation plan for the IReF. The plan, which is due to be released in late 2025, will take account of the lead time required by reporting agents and the Eurosystem to prepare the necessary legal and technical framework.

IReF reporting is currently planned to start in the fourth quarter of 2029. It will not only cover the consolidation of statistical reporting requirements, but also represents a first tangible step towards the integration of statistical and prudential reporting in Europe. The integration of statistical, prudential and resolution requirements will be further developed under the umbrella of the recently established Joint Bank Reporting Committee. To make the transition and the technical preparations easier and more efficient for the banking industry and the authorities, a one-year pilot reporting phase will take place before actual reporting begins.

The new timeline reflects the feedback received from the banking industry on the need to ensure that the IReF is implemented smoothly.

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