24. Financial institutions may refrain from resubmitting historical data as provided in paragraph …

Financial institutions may refrain from resubmitting historical data as provided in paragraph 16 of the guidelines in the following situations:

• a. where the answers to the Questions and Answers on the EBA Single Rulebook⁶ (covering technical questions regarding both reporting and policy) clearly provide that the legislative provisions or reporting requirements have been deemed as inaccurate and the clarifications of such regulatory requirements provided in the Answers will necessitate changes to reported data. In such cases, financial institutions should apply relevant changes only to future data for the reference dates following the publication of the response to the Questions and Answers.

This exemption applies without prejudice to paragraph 28 of the guidelines. It is also noted that the financial institutions should maintain the general approach to the resubmission of historical data as set out in the guidelines for all other responses to the Questions and Answers, where corrections to the data are expected from the Answer;

• b. where as part of data validation and quality assurance process the corrections fall within tolerance limits/thresholds defined via the agreed filing rules⁷ , and therefore the competent authorities, resolution authorities or the EBA consider the data submitted by financial institutions as being sufficiently accurate.

⁷ See the EBA Reporting Frameworks webpage: https://www.eba.europa.eu/risk-analysis-and-data/reporting-frameworks

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/