CRD V COREP Regulatory Reporting Solution

The CRD V COREP regulatory reporting solution automates capital calculations and reporting processes end-to-end and accommodates multiple internal entity structures to satisfy European Banking Authority (EBA) regulatory requirements

A Complex Framework And Evolving Regulatory Changes

As part of the Capital Requirements Directive IV (CRD IV), the EBA introduced a harmonized European common reporting framework (COREP) for prudential information that includes reporting and disclosure requirements for counterparty credit risk (CR), operational risk (OR), market risk (MR), large exposures (LE), leverage ratio (LR), credit valuation adjustments, and default fund contributions. Initial CRD V amendments include changes to CR, MR, LE, and LR.

Large Volumes Of Granular Data

To meet the calculation and reporting requirements of the complex CRD rule set, financial institutions need to process larger volumes of granular data and manage data overlaps consistently.

Interdependencies Of Risks

COREP requires a series of interrelated calculations that include recent introductions of FRTB and SA-CCR. To comply and withstand audits, firms must use consistent data and methodologies.

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AxiomSL’s Holistic CRD V COREP Regulatory Reporting Solution

CRD V COREP Regulatory Reporting Solution automates capital calculations and reporting processes for EBA requirements

Transparent | Flexible | End-to-End

Powered by the CapitalView extensible data dictionary

Transparently provides consistent interconnected calculations

Includes direct access to CRD rule references

Automates conservative and countercyclical capital buffers calculation and reporting

Drives efficiencies across Basel and EBA regulatory changes including anticipated Basel V and CRR3 updates

CRD V COREP Regulatory Reporting Solution Features

End-to-End Process Automation

The COREP solution enables compliance and consistency across all capital and credit risk mandates such as FRTB and SA-CCR.

Runs on the ControllerView data management and reporting platform that automates all processes and provides end-to-end transparency from data ingestion, enrichment, and validation, through calculations and reporting/disclosure requirements for COREP and provides a single platform for broad spectrum regulatory mandates including FINREP.

Accommodates multiple internal entity structures and jurisdictions.

Data And Calculations

Ingests data from multiple source systems without need of upstream transformation. The CapitalView extensible data dictionary maps the data to meet COREP taxonomy and related mandates and BCBS 239 Principals.

Sophisticated capital calculation engine runs ISDA-compliant EBA-mandated CRD V capital and risk-weighted asset (RWA) calculations, including SA-CCR and FRTB.

Prepares firms for regulatory evolution by calculating standard approach (SA) and internal ratings-based (IRB) approach on the credit-risk portfolio.

Reporting, Disclosures, And Analysis

Generates all CRD V COREP regulatory reporting outputs per EBA taxonomy requirements and validation rules enabling quick, transparent report reviews and XBRL submission. Plug-in seamlessly delivers Pillar 3 Disclosures aligned with COREP and FINREP reporting.

Enables drilldown to datapoints and calculations. Provides visual business rules with CRD rule references showing how regulatory rules are applied. LineageView module enables users to traverse report outputs, through calculations stages, to source data.

Cloud And Technology

Fully managed, scalable, secure RegCloud deployment ensures firms have the latest regulatory changes and software updates and reduces the technology infrastructure burden.

Seamlessly incorporates latest technologies to streamline processes and enable nimble evolution. High-performance computing technologies such as Spark, Hadoop, and Aurora provide speed and efficiency. Road-mapped integration of AI/ML will bolster data onboarding and anomaly detection.

Key Benefits

Enables firms to drive Basel and CRR changes by flexibly implementing CRD V COREP elements together with recent Basel IV requirements such as FRTB and SA-CCR.

Empowers financial institutions to efficiently address all reporting and cross-validation requirements for COREP, liquidity, FINREP, and other mandates including Pillar 3 Disclosures from a single data-driven platform.

Informs risk and capital management decision-making by delivering optimized RWA results through sophisticated collateral management and comprehensive application of regulatory calculation rules.

Via the CapitalView extensible data dictionary architecture, ensures optimal data consistency and reusability across risk mandates, eliminates extensive regression testing need, and bolsters BCBS 239 compliance.

Related Insights

Important Considerations for CRD V COREP Regulatory Reporting

Do we have access to the most mathematically efficient algorithms and multiple regulatory approaches to optimize for capital savings?

Can we adapt quickly to the latest versions of calculations and reporting requirements that the EBA publishes at regular intervals, while retaining access to earlier iterations?

Are we able to submit CRD V COREP regulatory reporting returns using XBRL with all requisite EBA-mandated validation and reconciliation rules?

Do we understand the rule differences and impact on our capital position between SA and IRB?

Are we prepared to process large volumes of granular risk data to facilitate capital adequacy, large exposures, and leverage ratios, as well as liquidity?

Are we able to track metadata and data lineage from our source data to submission files, thus driving audit-enabled, automated risk calculations?

CRD V COREP Regulatory Reporting Solution

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