8. Data quality

Before submitting data to their competent authorities, institutions and investment firms should check the completeness and plausibility of data and apply necessary corrections. The same should apply to competent authorities before they submit the data to the EBA.

When requested by the EBA, competent authorities should provide as necessary corrected data or explanations to any implausible data as soon as possible.

For the data quality checks, competent authorities should verify:

• a. that the templates are filled in completely and on an individual basis;
• b. the correct indication of the governance structure;
• c. the correct selection of the size category by the institution;
• d. the correct selection if an institution is categorised as significant or non-significant; and
• e. the plausibility of the number of directors, considering that data should be provided on an individual basis.

When submitting diversity practices benchmarking data to the EBA, competent authorities should ensure that they also comply with EBA/DC/335 of 5 June 2020 on EUCLID (EUCLID Decision)⁸ as amended and that they provide institutions and investment firms with any technical specifications necessary for continuous compliance with the EUCLID Decision.

8 https://www.eba.europa.eu/sites/default/documents/files/document_library/Risk%20Analysis%20and%20Data/Reporting %20by%20Authorities/885459/Decision%20on%20the%20European%20Centralised%20Infrastructure%20of%20Data%20% 28EUCLID%29.pdf

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