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COREP – Reporting Requirements of the Basel Committee

The term COREP reporting essentially covers the reporting and disclosure requirements under Pillar I of the Basel Committee. It is possible to transmit all relevant data for tracking compliance with the minimum capital requirements to the supervisory authorities in standardized reporting formats and tables as an XBRL transmission.

Changes to COREP Templates

The reporting obligations and COREP templates also continue to evolve in line with the constantly changing and evolving requirements of the minimum capital requirements in Pillar I. In some cases, these are only minor shifts or additions to existing information that can be addressed with a data definition and simple mapping. In other cases, new requirements result in completely new disclosure requirements or additional data must first be recalculated because it has not yet been calculated or has no longer been calculated. The currently planned CRSA floors can certainly be regarded as an example of this. While institutions that previously used the IRBA approach generally did not determine the CRSA values parallel to this, they will now also have to determine the CRSA values again in order to be able to report them.

Controlling-Relevant Values in the Determination of the COREP

However, the COREP reporting usually does not end with pure determination and reporting. In most cases, the values determined in this way are also controlling-relevant or lead to additional ad-hoc notification obligations to the supervisory authority if certain caps are overshot or limits undershot. In addition, the processes for determining and reporting data must be designed in such a way that they are flexible enough on the one hand to implement new requirements at short notice, but on the other hand so stable that the supervisory authority can classify them as reliable.

FAS AG Support in Determining the COREP

FAS AG supports credit institutions in fulfilling the requirements of the COREP. This begins with the technical determination of the requirements, the definition of possible data sources and the design and implementation of reporting processes. The latter can also include the selection and technical support in the implementation of tools for the creation of COREP reports.

If you are interested or have any questions, please contact us.

 

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 Andreas Huthmann Managing Partner