Automates calculation and capital reporting processes and accommodates multiple internal entity structures and jurisdictions to satisfy EBA mandate
Click image to view at full size
Complex Framework
As part of the Capital Requirements Directive IV (CRD IV), the European Banking Authority (EBA) has introduced a harmonized European reporting framework for prudential information (COREP) and financial information (FINREP).
The many evolving Basel-driven requirements challenges revolve around:
- Increased data overlap and granularity
- Move to more risk metrics
- Limitation of own estimates
Perspectives on Evolving Basel-Driven Requirements
To continue to comply with COREP evolving requirements, FIs must:
- Establish processes to meet BCBS 239-driven high data-quality standards and satisfy the many EBA-mandated validation and reconciliation rules
- Assess impacts of changing rules and approaches
- Report large volumes of granular data about their capital adequacy, large exposures, liquidity and leverage ratios
- Source required data, much of which has not previously been needed for external reporting
Questions to Consider
- Do we have well designed processes to ensure high data-quality standards and satisfy EBA-mandated validation and reconciliation rules?
- Can we efficiently apply algorithmic calculations and use multiple approaches to optimize for capital savings?
- Do we understand the delta between Standardized and Internal Ratings Based (IRB) Approaches?
- Are we able submit COREP returns to the regulator using XBRL?
- Are we able to track metadata of and derive ‘evidence’ from the models being invoked and the resulting outputs to drive audit-enabled, automated risk calculations?
- Are we prepared to report large volumes of granular data about our capital adequacy, large exposures, liquidity and leverage ratios?
- Can we quickly adopt the latest versions of the EBA-published XBRL taxonomy, while retaining access to earlier iterations?
The Basel Journey
Simple Platform
AxiomSL enables firms to automate the process of calculating and reporting capital and satisfy EBA-mandated CRD IV COREP requirements on ControllerView ― a single platform that accommodates multiple internal entity structures and jurisdictions.
AxiomSL’s solution automates the process of calculating and reporting conservative and countercyclical capital buffers.
Powerful Modules
The COREP solution is powered by:
- AxiomSL’s CapitalView extensible Data Dictionary for capital reporting that is designed to map against data emanating from multiple capital and risk source systems
- A robust, transparent capital calculation engine that provides access to its interpretation of the EBA’s standard rules
AxiomSL’s Extensible Capital View Data Dictionary ― Enables Seamless Change Management as Reporting Requirements Evolve
Click image to view at full size
IntegratedModelView
AxiomSL’s COREP Solution Powered by the CapitalView Data Dictionary
Automate calculation and capital reporting processes across jurisdictions to satisfy CRD IV COREP requirements
Click image to view at full size