In practice, we often find prudential reports to contain (material) errors, requiring time-consuming resubmissions. Additionally, adverse trends in the financial soundness of institutions might go undetected for too long, hampering timely recovery measures. Therefore, we call on institutions to take additional measures (where needed) to better ensure the quality of their prudential reporting. These good practices provide guidance in this regard.
We have published the good practices for consultation from October 25th till December 13th 2023. You can find the feedback statement here. It sets out how we processed the consultation responses.
The good practices consist of two parts:
- Good practices on overarching governance and infrastructure
- Good practices on regulatory prudential data aggregation processes
You can find the good practices below.