Further Reading

Chapter 13: Regulatory Reporting — From XBRL to API-Based Reporting

Essential Reading

EBA (2023). EBA XBRL Taxonomy — Documentation and Filing Rules. The EBA publishes detailed taxonomy documentation for each annual XBRL release, including filing rules, validation rules, and annotated template specifications. Available free at eba.europa.eu/risk-analysis-and-data/reporting-frameworks. Essential for practitioners implementing COREP/FINREP reporting.

BCBS (2013). Principles for Effective Risk Data Aggregation and Risk Reporting (BCBS 239). The foundational governance standard for risk data in financial institutions. Fourteen principles covering data architecture, accuracy, timeliness, and reporting quality. Free at bis.org. Despite being over a decade old, BCBS 239 remains the benchmark regulatory supervisors apply when assessing reporting quality.

Bank of England (2022). Transforming Data Collection — Future of Finance Data. The Bank of England's strategic vision for modernizing UK regulatory reporting — common data standards, API-based submission, reduced reporting burden. Available at bankofengland.co.uk. Essential background for understanding where UK reporting is heading.

Federal Reserve (2023). FR Y-14Q/A Instructions. The Federal Reserve's detailed instructions for the capital assessment reporting forms — granular credit, market, and operational risk data used in stress testing. Free at federalreserve.gov. The technical specification for one of the most demanding US regulatory reporting obligations.

For Practitioners

XBRL International. XBRL Specification and Best Practices. XBRL International maintains the open specifications for XBRL and iXBRL, along with best practice guides for implementation. Free at xbrl.org. The canonical technical reference for XBRL implementers.

EBA (2024). ITS on Supervisory Reporting (Commission Implementing Regulation). The EBA's Implementing Technical Standards on supervisory reporting under CRR/CRD — the legal basis for COREP/FINREP obligations. Available at eba.europa.eu. Required reading for compliance teams responsible for EU reporting obligations.

FFIEC (2024). Call Report Instruction Book. The FFIEC publishes detailed line-by-line instructions for each Call Report schedule. Free at ffiec.gov/npw. Essential for US bank regulatory reporting teams.

Oliver Wyman / McKinsey. The Cost of Regulatory Reporting. Various industry publications have quantified regulatory reporting costs — often cited in the range of £2-3 billion annually for the UK banking sector. Search for the most recent estimates. Useful for building the business case for reporting automation investments.

For the Curious

Penman, S.H. (2013). Financial Statement Analysis and Security Valuation, 5th ed. McGraw-Hill. Foundational text on financial statement analysis — providing the accounting context for regulatory financial reporting. Understanding what balance sheet and income statement categories mean is prerequisite to understanding FINREP.

Auer, S., et al. (2021). "The Role of Big Data and Machine Learning in the Banking Sector." BIS Working Papers, No. 938. BIS working paper on the use of data in supervisory reporting — relevant to the emerging landscape of near-real-time and granular reporting.

Bank of England (2023). Supervisory Statement SS1/23: Model Risk Management Principles for Banks. While focused on model risk, this statement includes discussion of how data flows from models into regulatory reports — directly relevant to the intersection of model governance and reporting data quality.

Financial Stability Board (2021). FSB Report on Supervisory and Regulatory Approaches to Climate-Related Risks. Discusses the emerging challenge of incorporating climate risk data into regulatory reporting — a forward-looking challenge for regulatory reporting functions.

Regulatory Primary Sources

Technology References