The Integrated Reporting Framework project is an ongoing initiative by the European Central Bank aimed at streamlining and harmonizing the reporting of statistical data by banks and other financial institutions across the Eurozone. The project’s core objective is to reduce the regulatory burden on reporting institutions while ensuring high-quality and consistent statistical data collection for monetary and financial stability purposes.
The ECB is currently in the design and consultation phase of the IReF project. Over the past few years, the ECB has conducted several rounds of public consultations with stakeholders, including national central banks (NCBs), financial institutions, and other relevant entities. These consultations aim to gather feedback on the framework’s structure, reporting requirements, and potential impact on the banking sector.
IReF seeks to consolidate and simplify the diverse statistical reporting requirements currently in place across the euro area. This includes aligning data definitions, reporting formats, and frequency across countries to create a more efficient and standardized reporting environment.
The ECB has outlined a tentative timeline for the implementation of IReF, with implementation expected by 2027. This timeline is subject to revisions based on the progress of consultations, regulatory approvals, and technical readiness of institutions.
Stay Compliant with Aguilonius
At Aguilonius, we understand the complexity of regulatory reporting and are fully prepared to meet the challenge. Our software, built on a granular data model, is IReF-ready—enabling seamless data integration into the Integrated Reporting Framework (IReF) with precision and confidence, as soon as the technical specifications go live.