Data Requirements May Place Strains on Bank Infrastructure for Corep Compliance
As the September 30 deadline nears for upgrading the standards used to report data under Common Reporting (Corep) and Financial Reporting (Finrep) guidelines of the European Banking Authority (EBA), many firms will have to replace legacy systems and move away from Excel formats, according to an executive at AxiomSL, a global regulatory reporting, risk and data-management services provider serving banks and insurers.
Market participants who use legacy systems to report data under the Corep and
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