On December 19, the European Banking Authority (EBA) released its final technical package for version 4.0 of the reporting framework, set to take effect in the first half of 2025. This pivotal update introduces the new Data Point Model (DPM) semantic glossary and enhances the capabilities of the DPM 2.0 model. Key Highlights: - Standard specifications for validation rules, DPM, and XBRL taxonomies to support reporting obligations for asset-referenced tokens (ARTs) and electronic money tokens (EMTs). - New Implementing Technical Standards (ITS) amending COREP templates to reflect changes from the EU Banking Package (CRR3 and CRDVI). - Minor adjustments to reporting for class 2 investment firms in line with CRR3/CRDVI updates. - Updated requirements under the Digital Operational Resilience Act (DORA) following the EU Commission's regulation on standard templates. - Availability of a data dictionary in both DPM 1.0 and DPM 2.0 formats, along with an updated DPM Query Tool. This development follows last year's announcement about migrating to the DPM 2.0 methodology, with comprehensive documentation and FAQs now available for further guidance. For more updates on financial services, follow Global Regulatory Insights. #EBA #FinancialReporting #DPM2 #FinancialServices #EURegulations #DigitalOperationalResilience #BankingRegulations
