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AxiomSL provides all the data aggregation, validation and reporting functionality needed to comply with the European Central Bank’s (ECB) Statistics on Holdings of Securities (SHS) regulation in respect of Reporting Banking Groups (SHSG). The solution accommodates direct submission to the ECB or to the relevant National Central Bank (NCB). Its scalable platform and business dashboards allow users to quickly process and manage the large quantities of data that are needed.
Leveraging a group’s existing data structure, AxiomSL’s solution quickly and accurately assembles the required SHS data from multiple source systems. After being enriched and validated, the data is mapped to the ECB’s common data structure and used to populate the appropriate submission format (SDMX and CSV).
Business dashboards allow users to monitor the entire reporting process, making it possible to manage the submission of large amounts of data in a simplified manner. The dashboards also give users the ability to conduct variance and plausibility analysis and drill down from the final reports to the source data, and to make manual adjustments, if necessary. Once they are satisfied with their reports, users can sign off on them before they are submitted to the relevant regulator.
Being highly flexible and scalable, AxiomSL’s solution makes it possible to load, process and submit the large volumes of data that are required for SHS, within the ECB’s tight deadlines. AxiomSL supplies and maintains the submission formats needed for SHS. When these change, updated formats will automatically be provided. Regulatory update releases such as these are separated from software releases, allowing firms to upgrade quickly without undergoing costly regression activities.
AxiomSL’s solution for SHS reporting is built on the same platform as all of its other solutions. This ‘one platform’ approach ensures consistency between reports submitted for different regulations. It also reduces cost and complexity because firms do not need to maintain separate systems to comply with different reporting requirements. AxiomSL’s ‘one platform’ model means the same system can be used for all other regulatory reporting and stress testing requirements. These include Analytical Credit Dataset (AnaCredit), Firm Data Submission Framework (FDSF), Comprehensive Capital Analysis and Review (CCAR), Common Reporting (COREP), Financial Reporting (FINREP) and many others.
Interface with client’s data, infrastructure and workflow processes without any data conversion.
Drill down capability to the logic and source data.
Automated end to end workflow as well as user-defined workflows.
Comprehensive traceability/data lineage on how data flows upstream and downstream.
A single platform that integrates whole or part of the end to end process to meet SHS requirements.
Seamless aggregation of data across multiple data sources.
Ongoing monitoring of any changes to the regulation.
Streamlined and automated data collection and report submission process.
Extension Of The AnaCredit Reporting Framework: SHS has been introduced by the European Union (EU) as part of the amendment to the Regulation and Guideline of the ECB. This amendment included an extension to include a list of reporting groups.
Data Granularity: The scope includes holdings within the group of all debt securities, listed shares (no other equity is required) and investment funds/units.
Data Quality: The data quality becomes imperative given the granularity of the reporting requirements. In order to achieve timely and accurate implementation, firms must ensure underlying technology is fully capable of delivering reliable and high quality data.
Cross Validation Between COREP And FINREP Reporting: The information provided must be validated against the group’s other regulatory submissions for COREP and FINREP.