New Technical Standard for the centralised EBA Pillar 3 data hub

 

The new Banking Package (CRR3/CRD6), which implements the latest Basel III reforms in the EU, requires the EBA to develop a Pillar 3 data hub. The EBA’s approach to fulfilling the mandates set out in the Banking Package is outlined in its Roadmap on Strengthening the Prudential Framework, published in December 2023.

Under CRR3 (Articles 434 and 434a), the EBA must publish prudential disclosures for all relevant institutions on its website, ensuring centralized and easy access for stakeholders via a single electronic entry point. To meet this requirement, the EBA is establishing a data hub to consolidate all disclosures mandated under Part Eight of the CRR.

A separate consultation on the draft ITS for small and non-complex institutions, as well as the resubmission policy, is planned for the first half of 2025. The ITS specifies the IT solutions and processes for large and other institutions when submitting their Pillar 3 disclosures, covering submission methods, data exchange formats, and technical validations by the EBA. Further details for submitters will be provided in an onboarding communication plan, expected by the end of Q1 2025.

Institutions will have a transition period for disclosures with reference dates from June to December 2025, allowing them time to adjust to the new publication process. Meanwhile, the EBA has completed a voluntary pilot exercise to test the process for large and other institutions. The final ITS incorporates insights from this pilot, along with feedback from the consultation phase.

Monitor closely our website to keep track of the upcoming regulatory changes in banking compliance.