Deutsche Bundesbank (BBK) Reporting

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AxiomSL’s strategic regulatory platform automates the production and submission of reports to the Deutsche Bundesbank (BBK), including all statistical, credit, liquidity, External Sector and European Banking Authority (EBA) returns.

AxiomSL’s ‘one platform’ approach means the same system can be used for all other regulatory reporting requirements globally. This ensures a quick time to market and allows firms to greatly reduce the cost and complexity of compliance.

Deutsche Bundesbank reporting: The requirements and challenges

Financial firms in Germany must file a wide range of regulatory reports to the Bundesbank. These include returns that have been mandated at both the domestic and European level, such as Common Reporting (COREP) and Financial Reporting (FINREP) submissions.

Firms face significant challenges to consolidate and normalize all of the required data from disparate systems across the enterprise. They must transform the data into different formats, including XBRL, and submit it to the Bundesbank within tight timelines.

Those that rely on siloed point solutions are struggling to keep up with the pace of regulatory change and are being hampered by increasingly complex infrastructure environments. Many have also been hit by unexpected costs because their chosen reporting tools do not offer native support for XBRL.

The AxiomSL solution

AxiomSL’s flexible, high-performance platform supports all of the regulatory reports that must be filed to the Bundesbank, including:

Bilanzstatistik
Zahlungsstatistik
Investment Fund Statistic
Kreditnehmerstatistik

Aussenwirtschafts Verordnung
Ausslandsstatus

ALMM
LCR
NSFR
LE
OF
Liquiditatsverordnung
Millionenkredite/AnaCredit
§ 2 FinaRisikoV
Risikotragfahigkeits

The platform leverages a financial firm’s existing data structure to quickly and accurately aggregate the required data from different lines of business. It reconciles the aggregated data back to its sources and uses it to run any necessary calculations before populating the report templates that must be submitted to the Bundesbank.

The values in the templates are automatically validated and reconciled with disclosures that have been made as part of other regulatory requirements. Users can drill down from the templates to the source data and understand all transformations that have taken place. Once signed off in accordance with the four-eyes principle, the relevant report will be submitted to the Bundesbank in the required format, including XML and XBRL.

The AxiomSL platform includes fully embedded support for XBRL. As a result, firms do not need to implement a separate XBRL ‘translator’ and can avoid the associated capital and operational costs. AxiomSL provides the latest iterations of the EBA’s XBRL taxonomy, while continuing to give firms access to earlier versions, which they need when rerunning or resubmitting reports.

In addition to Bundesbank reporting, firms that operate internationally can quickly extend their use of the AxiomSL platform to support any other regulatory requirements globally. This flexibility is enabling firms to negotiate changing regulatory deadlines with ease and confidence. Using a single platform for multiple reporting requirements also allows firms to contain costs and ensures consistency between the data in different regulatory returns.

By continually monitoring changes to the reporting requirements of different regulators and updating its templates as required, AxiomSL relieves firms of onerous development work. Regulatory update releases like these are separate from software updates and therefore do not require time-consuming regression testing.

Key Benefits

  • A single platform that can be used not only for reporting to the Bundesbank, but also for all other regulatory reporting requirements globally
  • Full support for all statistical, credit, liquidity, External Sector and EBA reporting requirements
  • Automation of the entire reporting process, including submission to the Bundesbank extranet
  • Sign-off functionality based on the four-eyes principle
  • Native support for XBRL and all other submission formats
  • Monitoring of changes to report templates and provision of updated versions
  • Separation of regulatory update releases and software updates
  • Drilldown from final reports to source data
  • Data loaded in any format

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AxiomSL | EMEA

+44 203 823 4600
info@axiomsl.com



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