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The European Banking Authority (EBA) published a Recommendation on the use of unique identification codes for supervisory purposes for every credit and financial institution in the European Union. This Recommendation is a major step forward in harmonizing the identification of legal entities, in line with proposals by the Financial Stability Board (FSB) endorsed by the G20, to ensure consistent and comparable data.
In 2013, the EBA finalised Implementing Technical Standards (ITS) on supervisory reporting, which will ensure uniform reporting requirements across all EU Member States in a number of areas such as own funds, financial information, large exposures, liquidity ratios, leverage ratios and asset encumbrance. As of July 2014, all competent authorities shall,...
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