Read more about data under CRD IV, including how it will be used by the PRA and FCA.
Data quality remains a top priority. Firms’ data will be sent on to the EBA and ultimately to the European Systemic Risk Board for macroprudential analysis. The PRA and FCA will carry out supervisory assessment as well. So it’s important that data quality is maintained. Remember that the implementing technical standards on reporting apply directly to firms, so it is a firm’s responsibility under EU legislation to report accurately. There needs to be senior management sign-off of data in your firms.
In the PRA and FCA, data is used by supervisors and risk analysts for risk monitoring, supervisory purposes and financial stability. When the data is sent on to the EBA, it uses it for data sharing between supervisory colleges. It also processes it and sends it on to the European Systemic Risk Board for macroprudential analysis.
Read our data strategy.